Association for Interactive Media Applauds Enactment of "e-Signature" Bill; President Clinton to Sign E-Sign Act today in Philadelphia at Congress Hall.

Business Editors

NEW YORK--(BUSINESS WIRE)--June 30, 2000

The Association for Interactive Media, largest lobbying organization representing Internet companies, applauded President Clinton today for penning into law the E-Sign Act.

The law, which takes effect Oct. 1, will give true meaning to the term e-commerce. As of March 1, 2001, companies can begin the electronic retention of legal records such as mortgages and financial securities.

The law will allow consumers who shop online for a new car or home mortgage seal their deals with a few clicks on their computer keyboards.

"This is a landmark day in the lives of Internet companies and consumers," said Ben Isaacson, executive director of the Association for Interactive Media. "This marks the beginning of a new era. Now, digital signatures will allow more secure trading and will decrease fraud in electronic transactions by use of encryption keys. As businesses and consumers recognize the power of the Internet for e-commerce, these first regulatory steps will pave the way for a windfall of future economic progress."

Since 1993, AIM has led the fight to protect companies doing business on the Internet by working behind the scenes with elected officials, senior lobbyists, critical congressional staff members and other power players, who turn to AIM as the voice of the Internet industry. No other Internet organization is more connected in the Washington power structure than the Association for Interactive Media.

Mr. Isaacson is available to members of the press for commentary on today's bill signing. To arrange an interview, please contact: Rita Gudgion or Steven Blinn at BlinnPR, [phone], [e-mail] , [e-mail].