BancBoston Robertson Stephens Raises Revenue Estimates, Reiterates Buy Rating on CPTH.

SAN FRANCISCO--(BUSINESS WIRE)--Sept. 13, 1999--

BancBoston Robertson Stephens senior eCommerce analyst Rick Juarez today reiterated his Buy rating on Critical Path (NASDAQ:CPTH).

The company, headquartered in San Francisco, Calif., is a leading provider of outsourced mission-critical messaging services, e.g. email, calendaring, secure message delivery.

"We are revising our estimates and reiterating our Buy rating on Critical Path, as the company's revenue growth is gaining strength due to its penetration in the enterprise market and recent acquisitions," said Juarez.

"We are raising our 1999 and 2000 revenue estimates from $12.6 million to $13.5 million and from $48.5 million to $53.3 million, respectively," said Juarez. "We believe there is additional upside to our revised revenue estimates, driven by higher quality of revenues, increased enterprise demand for outsourced mailbox services and the potential for new-significant account wins."

"In addition, we are revising our 1999 and 2000 earnings-per-share estimates from ($0.73) to ($0.97) and from $0.04 to $(0.21), respectively, to reflect cost associated with recent acquisitions," said Juarez.

Clients interested in receiving more information should contact their salesperson at 415/781-9700.

BancBoston Robertson Stephens is the leading full-service investment bank focused exclusively on growth companies. For the first half of 1999, the firm completed over 100 offerings, raising more than $15 billion in capital for clients and is the leading investment bank for Internet M&A transactions. The firm's 45 research analysts cover nearly 700 companies.

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