Banyan DoubleCase Unit Purchases the Patriot Group Product Line.

COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--Aug. 17, 1999--

Banyan Corporation (OTC BB:BANYE) announces its wholly owned subsidiary, DoubleCase Corporation, has entered into an agreement to purchase the entire Patriot Group Inc. product line.

Under the terms of the agreement, DoubleCase will purchase the Patriot Group's product line for an undisclosed cash purchase price. The transaction is expected to close on or around Aug. 25, 1999.

One of the products DoubleCase will be acquiring is the Universal Speaker Shelf, a patented speaker mounting device that attaches computer speakers to desktop monitors using special vibration absorbing materials. The Universal Speaker Shelf carries a suggested retail price of $19.95 and fits all types of monitors and computer speakers, and benefits the user by raising the speakers to ear level and reducing desktop clutter. In addition to the Universal Speaker Shelf, Banyan will be acquiring the designs and tooling to several new products that have never been marketed.

Cameron Yost, Banyan's president and chief executive officer, stated, "This is the first of many steps towards expanding Banyan's existing DoubleCase product line. This acquisition complements and maintains our emphasis on low-tech, high-margin products. DoubleCase will be introducing these new products, as well as some potential others, at this year's Fall Comdex computer show in Las Vegas."

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 United States 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.