Banyan Announces Temporary Symbol Change.

COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--Aug. 6, 1999--

Banyan Corporation (OTC BB:BANYE) announces that earlier today the National Association of Securities Dealers (NASD) affixed an "E" to the end of its trading symbol.

The "E" indicates that Banyan has become subject to delisting from the OTC Bulletin Board unless it satisfies the SEC's new OTC Bulletin Board requirements as set forth on Jan. 4, 1999. Banyan is currently a fully reporting company and in compliance with Section 12(g) of the Securities Exchange Act of 1934, as amended.

If Banyan's stock is delisted, it will begin trading on the "pink sheets" until Banyan satisfies all of the SEC's requirements at which time its stock would resume trading on the OTC Bulletin Board.

Cameron Yost, Banyan's president and chief executive officer, stated, "Banyan has been working diligently over the past several months to become fully compliant with the SEC's new rules and regulations. Banyan filed a Form 10-SB earlier in May which became 'effective' 60 days later, compelling Banyan to file quarterly and annual reports with the SEC.

"Nevertheless, Banyan is still in the comment process for the Form 10-SB. Just as soon as Banyan completes the comment process the 'E' will be dropped from its trading symbol. In the mean time, Banyan will continue filing regular quarterly and annual reports with the SEC -- nothing material has changed at Banyan. In fact, Banyan will file its first Form 10-QSB with the SEC next week for the second quarter ending June 30, 1999."

Banyan Corporation is a publicly traded holding company focused on investing in and building a network of operating subsidiaries engaged in designing, manufacturing and marketing products and services aimed at the personal computer market, the notebook segment in particular, which is also the fastest-growing segment of the personal computer industry, and Internet e-commerce.

Banyan currently sells a line of hard-sided protective carrying cases for notebook computers under the DoubleCase brand name and controls 26% of Anything Internet Corporation. Banyan's products are currently available through distribution from Ingram Micro and sold through a wide variety of Internet e-commerce storefronts, computer mail order catalogs, several of the largest U.S. computer retailers, Value Added Resellers (VARs), a number of overseas vendors, and to the U.S. government.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Banyan Corporation) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the high-technology industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Banyan Corporation. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, changes in federal or state tax laws and market competition factors.