ViVOtech Press Release

ViVOwallet becomes ViVOtech, new name reaffirms company technology depth, and business model strength.

Los Altos, CA, Oct 15th, 2001 --- Effective Immediately, ViVOwallet's name has been changed to ViVOtech Inc., company officials have announced.

ViVOtech Inc., is the leader in developing both hardware and software solutions to facilitate anytime anywhere commerce using mobile devices and existing merchant systems.

The company begins operation under the ViVOtech name as of today. In addition, the company's web site address changes to www.vivotech.com.

The corporate name, ViVOtech, concisely describes its technology depth and business model strength. ViVOtech has expanded its core product offering to worldwide markets, adapting its technology to meet the local requirements for complete mobile commerce capabilities crafted to work with existing merchant systems. ViVOwallet will remain the name of its highly successful product for consumer financial management.

"The name change is an important milestone for the company," says Jorge Fernandes, CEO of ViVOtech "it's the symbol of a mature company that recognizes the potential of its technology that offers strong value proposition in several markets."

ViVOtech reaffirms its ongoing commitment with quality and product innovation.

ViVOtech's solution for the financial industry:

ViVOserver™ is a back-end software application that synchronizes and aggregates the consumer's entire financial profile and presents it anywhere anytime either online or at a synchronized mobile device. The ViVOserver connects with Banks and other Financial Institutions databases to gather financial information in real time for efficient management of finances.

ViVOwallet® is a software package that resides on mobile devices for consumers to us as their offline transaction tool. The ViVOwallet empowers the consumer to manage all their cards in real-time, and to securely complete purchases at 21 million brick-and-mortar merchants using their existing Point-Of-Sale systems.

ViVOcard®'s patent pending technology enables it to become any of the consumer's cards by dynamically changing its magnetic stripe. ViVOwallet enabled devices dynamically program a ViVOcard with the chosen credit, debit, merchant discount and other card information. The ViVOcard can then be used in any existing Point-Of-Sale system emulating as a normal magnetic card.

ViVOpay™ is a Point-Of-Sale terminal adapter that enables any of the existing 21 Million Point-Of-Sale systems to interact with ViVOwallet enabled mobile devices. The consumer just needs to beam the credit, debit, merchant discount and other card information to the Point-Of-Sale terminal using the infrared port of its Smartphone, PDA or Cellphone without having to rely on any magnetic card. ViVOpay does not require any change in the hardware or software of the POS terminals.

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

ViVOtechdevelops both hardware and software solutions to facilitate anytime anywhere commerce using mobile devices. ViVOtech is focused on the physical merchant transaction, where over 21 million merchants worldwide generate in excess of two trillion dollars in yearly transactions.

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