Jorge Fernandes at CTIA Press Release

ViVOtech CEO Jorge Fernandes to Speak at CTIA on technology for enabling Mobile Transactions

Los Altos, CA, Mar 12, 2002 - For cellular phones and handheld computers like PDAs to become the "wireless wallets" envisioned by carriers, credit card organizations and consumers, they need to tie into existing point-of-sale terminals, back-end payment, billing and security systems.

The technology to make this happen will be described by ViVOtech CEO Jorge Fernandes in Orlando next week at CTIA Wireless 2002, the world's largest wireless trade show, hosted by the Cellular Telecommunications and Internet Association.

ViVOtech is a leading infrastructure technology provider developing mobile electronic payment solutions that are compatible with today's merchant legacy systems.

The CTIA session, entitled "Mobile Transactions," will be held from 1 to 2:30 p.m. in Room 307A and will also include experts from Citibank, IBM and Yankee Group.

"For mobile phones to become wireless wallets, the technology must not force a change in behavior for either the consumer or the merchant," said Fernandes. "It will be necessary to integrate seamlessly - and painlessly - the existing point-of-sale terminals, handheld devices and back-end financial systems. We've studied the problem with a range of experts in this field, and can describe how this can be done effectively today."

ViVOtech's management and advisory board includes former executives from such related industry companies as First Data Corp. (NYSE: FDC), Citibank (NYSE: C), Intuit (Nasdaq: INTU), McCaw Cellular, Mervyns (NYSE: TGT), Williams-Sonoma (NYSE: WSM), VeriFone and Visa International/USA. The company, headquartered here, intends to introduce its products in the coming months.

In addition to ViVOtech, Fernandes was a founder of EmployeeLife.com (now Benefit America), the nation's premier provider of online employee benefits solutions; BioLumin, Inc., which designs and manufactures drug discovery instrumentation; and Laser-Tron, which developed arcade games and was acquired by Acclaim Entertainment. He holds several patents and is an Executive Fellow at Santa Clara University's Center for Innovation and Entrepreneurship.

About ViVOtech, Inc.
"We turn cell phones into consumer payment devices."

ViVOtech's patent-pending technology lets enterprises offer a secure and easy way for consumers to make credit-card payments with their cell phones and other wireless handheld devices. ViVOtech makes it possible for the rapidly growing number of these devices to connect directly with the brick-and-mortar financial infrastructure, enabling anywhere, anytime electronic payments without requiring any changes in merchants' behavior or point-of-sale infrastructure.

For More Information Contact:
Marcelo de Lima, ViVOtech, Inc.
Phone: (650) 776-7109
mlima@vivotech.com