Peppercoin Recognized for Most Promising Technology at MIT Enterprise Forum's 25th Anniversary Technology Conference

WALTHAM, Mass.--(BUSINESS WIRE)--Dec. 2, 2003--

Micropayment Service Enables Merchants to Offer New Content and Quickly Build Market Adoption

“The demand to buy and sell low-priced items online has increased significantly. Peppercoin's technology enables merchants to meet that demand by providing significant reductions in transaction processing costs.”

Peppercoin, a micropayments company that enables profitable new business models for low-priced digital content and physical goods, today announced it received the Most Promising Technology Award at the MIT Enterprise Forum's 25th Anniversary Technology Conference. The MIT Enterprise Forum is a non-profit organization based at MIT whose mission is to promote and strengthen the process of starting and growing innovative and technology-oriented companies by providing services and programs that educate, inform and support the entrepreneurial community. Attendees at the November 18, 2003, conference voted for the Peppercoin Payment Service to receive the prestigious award.

"This recognition from our industry peers reflects the importance of micropayments technology as the key enabler for low-priced digital content and physical goods," said Robert Kiburz, president and CEO of Peppercoin. "The demand to buy and sell low-priced items online has increased significantly. Peppercoin's technology enables merchants to meet that demand by providing significant reductions in transaction processing costs."

Peppercoin's Payment Service, which is currently in beta testing, leverages advanced encryption and patented mathematical models to enable businesses to offer low-priced goods and services online, quickly and profitably. The Peppercoin service is based on technology that RSA-co-founder Ron Rivest and Silvio Micali, co-founders of the Cryptography and Information Security Group at the Massachusetts Institute of Technology's Laboratory for Computer Science, developed over nearly two decades of research.

The Peppercoin Payment Service reduces the workload and costs associated with payment processing by securely consolidating payments across multiple merchants and reducing 99 percent of the transaction load. This eliminates one of the most commonly identified challenges to making micropayments a reality - the high cost per transaction for offerings of under $2.

About Peppercoin, Inc.

Peppercoin is a micropayments company that enables profitable new business models for low-priced digital content and physical goods. Only Peppercoin helps merchants build market adoption quickly through a consumer-friendly, pay-as-you-go approach that eliminates prepayments. Peppercoin integrates easily with existing business models and systems to accelerate revenues and increase profits while dramatically lowering transaction costs. For more information visit www.peppercoin.com.

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