STAMPS.COM CREATES INTERNATIONAL SUBSIDIARY
Effort Will Extend Internet-based Mailing and Shipping Services to Europe and Asia
WORLD EXPRESS AND MAIL CONFERENCE (Paris, France) – Wednesday, May 24, 2000 – Stamps.com™ (Nasdaq: STMP), the world’s leading provider of Internet-based mailing and shipping services, today announced the formation of Stamps.com International, Inc., a wholly-owned subsidiary that will bring the company’s mailing and shipping technologies and services to markets in Europe, Asia and other regions. The formation of this subsidiary is the culmination of a year-long effort to build relationships with foreign postal authorities. Stamps.com opened its first international office in the United Kingdom in June of 1999 and since that time has aggressively pursued business development opportunities with European postal unions.
The announcement was made by Stamps.com President and Chief Operating Officer Loren Smith in Paris at the 11th Annual World Express and Mail Conference where leading postal unions and carriers are gathered.
“With international posts increasingly embracing e-commerce opportunities, the adoption of PC Postage technology outside the U.S. is fast becoming a reality,” said Smith. “The success of Internet Postage in programs operated by the U.S. Postal Service and the strong leadership role Stamps.com has played in the development of the domestic market make us the leading contender to provide these services to Postal Unions and their customers around the world.
Stamps.com was the first company approved by the U.S. Postal Service to print postage directly from the Internet. The establishment of this subsidiary signals Stamps.com’s strong commitment to focus resources and talent on the tremendous opportunities represented in the International markets.
Stamps.com International, Inc. will hold exclusive rights to Stamps.com, Inc.’s industry leading mailing and shipping technologies for all regions outside of North America.
Development of this international subsidiary is the latest in a growing list of business milestones since the launch of the Stamps.com service in October 1999. Last fall, Stamps.com acquired online shipping company iship.com, and established another subsidiary, EncrypTix, which utilizes Stamps.com’s Internet Postage technology to enable organizations to deliver value-bearing documents to consumers over the Internet. With more than 200,000 U.S. customers already using its software-only Internet Postage service, Stamps.com is the clear leader in the category, where it serves small businesses, corporations and e-commerce vendors with the latest in mailing and shipping technologies
About Stamps.com
Stamps.com™ provides the easiest, smartest way to mail or ship letters, packages or parcels anywhere and at anytime. Stamps.com operates three distinct business units focused on providing valuable e-services that allow small businesses, large corporations and e-commerce companies to control costs and efficiently manage their mailing, shipping and returns operations. Its business is anchored in key relationships with the U.S. Postal Service and United Parcel Service (UPS) and other carriers, including FedEx, Airborne Express and Yellow Freight. Stamps.com subsidiary, EncrypTix Corp., leverages its highly secure, patented technologies enabling companies to provide value-bearing documents like tickets, coupons and certificates over the Internet to consumers. Stamps.com International extends the company’s reach into foreign markets. Visit (sdcmainprod.wpengine.com) for more information.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This release may contain forward-looking statements that involve risks and uncertainties. Important factors, which could cause actual results to differ materially from those in the forward-looking statements, are detailed in filings with the Securities and Exchange Commission made from time to time by Stamps.com, including its annual report on Form 10-K/A for fiscal year ended December 31, 1999. Stamps.com undertakes no obligation to release publicly any revisions to any forward looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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