Presto Technologies, Inc. Launches PrestoPass Platform at Demo 2000

CAMBRIDGE, MA - February 7, 2000 - Presto Technologies, Inc., a provider of innovative e-commerce solutions for "click and mortar" companies, today announced the details of its revolutionary new e-commerce platform at the exclusive Demo 2000 conference. PrestoPass allows consumers to make purchases, initiate actions, or access accounts and loyalty programs by simply waving their credit card or other branded object over a PrestoPass reader. This "one wave" approach delivers unprecedented ease of use and security to shop online and in brick and mortar settings, using the customer's favorite payment object, whether it's a credit card, a key tag or even a wristwatch.

In the opening session of Demo 2000 this morning, Henry Holtzman, founder and CEO of Presto Technologies, demonstrated the power of Presto's e-commerce platform to more than 1,000 guests from the high-tech industry including leading members of the press, industry analysts, venture backers and technology executives. Using a single key tag as his digital ID and a reader in the form of a mousepad, Holtzman showed several examples of a Presto-enabled future, including "one wave" login to email at a kiosk, instant population of personal data screens for online purchasing, and buying a double latte with a single wave.

Presto offers its merchant customers the ability to streamline and personalize the customer experience, delivering a truly integrated multi-channel strategy that increases brand loyalty and sales conversion. PrestoPass identifies and authenticates customers at home or retail with a single wave - and no typing. Presto also enables rapid ordering and payment at favorite retail locations without requiring cash - payment and preference information is pre-configured in the system. The company produces PrestoPass readers for the home in the shape of a mousepad, conserving precious desktop real estate. Presto, with targeted distribution partners, plans to offer the home readers free of charge to consumers later this year. Presto is also building the same technology into store kiosks and point of sale systems at retail locations.

About Demo 
Entering its 10th year, Demo has become the premier launch event for companies with new products and emerging technologies. Top executives from leading hardware and software technology companies, venture capitalists, journalists from key industry publications and industry analysts attend Demo to preview the most promising products and technologies shaping the market. More than 1,000 applicants competed for the 82 exhibition slots at Demo 2000, held this year at the Renaissance Esmeralda Resort in Indian Wells, Calif. from February 6-9, 2000.

About Presto Technologies 
Presto Technologies, Inc., a spin-off from the MIT Media Lab, is at the forefront of the next wave of the Internet - enabling consumers to shop securely in any online or brick and mortar setting, using the Internet as the backbone. Presto delivers a unique e-commerce platform that allows consumers to make purchases and access accounts or loyalty programs by simply waving their credit card or other object over a Presto reader, whether at home or at retail. By streamlining and personalizing the customer experience, Presto offers its merchant partners a truly integrated multi-channel strategy for increasing brand loyalty and sales conversion. For more information about Presto Technologies, please log onto the Web at www.prestotech.com.

Members of the press wishing to discuss Presto should contact:

Presto Technologies
617.621.9993
info@prestotech.com