William Powar Press Release

25-year payments and credit card industry veteran, William Powar, joins Advisor Board at ViVOtech; Bolsters company's leadership position in offline digital payments.

Los Altos, CA, Aug 9th, 2001---ViVOtech, Inc, the leading digital medium for offline commerce announced today that William Powar, former VISA's Senior Vice President of Emerging Markets & Technologies is joining ViVOtech's advisory board. Mr. Powar brings over 25 years of experience in payments technology development and worldwide business development.

"We are delighted to have Mr. Powar in our Board of Advisors, his wealth of experience and business relationships will be invaluable as ViVOtech grows" said Jorge Fernandes, CEO of ViVOtech. "He will be instrumental in launching ViVOtech as the leading provider of offline digital payment services for the credit card market."

ViVOtech's solution delivers today, to the credit card industry, the convenience and security benefits of future credit card payment technologies. These include adding financial transaction capabilities for mobile devices and smartcards to interface with existing point of sales terminals. In addition, ViVOtech's technology provides the transition process to evolve the market place towards future solutions.

"Every company and financial institution in the payment business is positioning itself to capitalize on the next wave of business opportunities in wireless and digital payments services," says William Powar, "ViVOtech is one of the most promising new technologies in this brand new industry, ensuring digital security and convenience to the most used method of payments throughout the world - credit and debit cards, without changing existing systems, nor consumer behavior".

William Powar is a principal of Venture Architects, a consulting firm he founded in January, 1997 to provide strategic guidance and business development expertise to companies in the e-commerce industry. Prior to founding Venture Architects, Mr. Powar served 22 years with Visa USA and Visa International developing new markets and businesses. In the 1980's, Powar managed the development of low-cost POS merchant terminals and the software and business infrastructure that lead to the automation of the merchant payment process. In his last assignment, as SVP of Emerging Markets & Technologies, Powar was Visa's business development officer in the information/electronic market with primary responsibility in chip cards, electronic commerce and network-based micropayments, as well as directing Visa's venture investments and strategic alliances - Including acting as one of the co-founding investors of VeriSign.

Mr. Powar has an MA in Economics from Stanford University, a BA in Economics from Amherst College, and holds several patents in payment systems.

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

ViVOtech makes both hardware and software 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