Stamps.com Supports the Recommendations of the Presidential Commission on the U.S. Postal Service
SANTA MONICA, Calif, — August 14, 2003 – Stamps.com (Nasdaq:STMP – News) today announced their support for the recommendations of the Presidential Commission to ensure the long-term viability of the U.S. Postal Service. Several of the Commission’s recommendations focused on increasing the value of mail through the use of technology and increasing alternative access to postal products and services. Stamps.com plans to continue working with the Postal Service and mailing industry to advance these goals.
Specific recommendations that the Commission made include: 1) that the Postal Service should increase the use of intelligent mail so that it is available to all users, large and small, at an affordable price; 2) that the Postal Service, in coordination with the Department of Homeland Security, should explore the use of sender identification for every piece of mail, retail and commercial; and 3) that the Postal Service should expand retail access to postal products and services beyond the traditional post office.
“We are pleased that the Commission recognized the opportunity that technology has created for making the mail more intelligent, secure and accessible,” said Ken McBride, CEO of Stamps.com. “Our service is currently using technology to provide these benefits to a wide range of customers from individuals to small businesses to corporations.”
Stamps.com’s service produces an intelligent mail piece with a two-dimensional barcode that contains important information including the sender’s identity and the point of origination of the mail piece. In addition, Stamps.com provides the opportunity for customers to access postal products and services from the convenience of their home or business without having to go to the post office.
The nine-member bipartisan Commission was established by President George W. Bush to identify the challenges facing the Postal Service, examine potential solutions and recommend steps to ensure the long-term viability of the Postal Service. The Commission delivered their report to President Bush on July 31, 2003. Stamps.com provided testimony to the Commission in April 2003.
Stamps.com (Nasdaq: STMP) is a leading provider of Internet-based postage services. Stamps.com enables customers to print U.S. Postal Service-approved postage with just a PC, printer and Internet connection. The company targets its services to small businesses, home offices, and individuals, and currently has partnerships with companies including CompUSA, Earthlink, HP, Microsoft, NCR, Office Depot and the U.S. Postal Service.
“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, including the company’s ability to complete its products and obtain regulatory approval, 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 for the fiscal year ended December 31, 2002, its subsequent Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K, if any. 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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