Aqueduct Selects Preview Systems to Power Electronic Software Distribution.

Business Editors/High-Tech Writers

ALISO VIEJO, Calif. & SUNNYVALE, Calif.--(BUSINESS WIRE)--Dec. 21, 2000

Aqueduct, Inc., a leading provider of outsourced sell-side e-commerce services to brand name product manufacturers, today announced that it has selected Preview Systems' (Nasdaq:PRVW) digital rights commerce platform to power its electronic software distribution capabilities.

Using Preview Systems' technology, Aqueduct will enable a software manufacturer to directly deliver software in an electronic, secure format to consumers purchasing from the manufacturers' online store hosted by Aqueduct. The real-time purchase and delivery of the software through this digital download technology enables the consumer to immediately begin using the manufacturer's software.

"We were impressed with Preview Systems' focus and commitment to the digital delivery market, as well as their proven track record, " said Bill O'Connell, Aqueduct's vice president of marketing. "We found Preview Systems' digital goods commerce platform to be both reliable and scalable."

"We are delighted that Aqueduct is using our platform to offer electronic software distribution services," said Vincent Pluvinage, CEO of Preview Systems. "Together, we are helping Aqueduct's clients improve their customer satisfaction and simplify the e-commerce process for digital goods."

By enabling secure rights management and commerce, Preview Systems is expanding the market for the sale of digital products, such as software and music, over the Internet. Preview Systems' open platform accommodates emerging services and distribution channels, enabling companies such as software manufacturers and their channel partners to increase their businesses with additional revenue streams.

About Aqueduct, Inc.

Aqueduct, Inc. is a leading provider of outsourced sell-side e-commerce services to brand name product manufacturers. Aqueduct's outsourced e-commerce platform enables product manufacturers to sell their products online to consumers and businesses both directly and through their existing channel partners. The end-to-end Aqueduct service platform offers clients online store planning and design, hosting infrastructure, store management, order processing, payment processing and risk management, e-marketing, warehouse logistics and fulfillment. The company currently has relationships with more than 35 major manufacturers. More information about Aqueduct can be found on its Web site at www.aqueduct.com.

About Preview Systems

Preview Systems' digital rights commerce platform enables service providers and content producers to sell digital goods over the Internet legally and securely. Preview Systems also ensures the protection, delivery and management of the rights associated with the usage of digital products. Headquartered in Sunnyvale, Calif., the company counts as its customers a network of software publishers, record labels, distributors, service providers, resellers and hardware manufacturers. For more information, please visit the Preview Systems Web site at www.previewsystems.com.

The statements contained in this release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934. These include statements regarding Preview's expectations, beliefs, hopes, intentions or strategies regarding the future and, in particular, the implementation of Preview Systems' technology by Aqueduct and its clients. These forward-looking statements are subject to a number of risks and uncertainties, including: the worldwide growth and acceptance of digital distribution of music, software and other digital products; the acceptance and use of Preview Systems' technology; the amount of software applications available for digital download; technical challenges specific to Aqueduct and its clients' implementations of our solution the ability of the solution to achieve desired system integration, flexibility and other expected business benefits and adverse economic conditions in any of the major countries in which Preview Systems does business. Actual results may differ materially due to these and other factors. The matters discussed in this press release also involve risks and uncertainties described from time to time in Preview's filings with the Securities and Exchange Commission. For further discussion of the risks and uncertainties, readers should see the Risk Factors described in our quarterly reports on Form 10-Q for the quarters ended March 31, 2000, June 30, 2000 and September 30, 2000, respectively, our annual report on Form 10-K for the fiscal year ended December 31, 1999, our final Prospectus dated December 7, 1999 for our initial public offering and our press releases. Preview Systems assumes no obligation to update the forward-looking information contained in this press release.