Cavio Corporation Unveils the First Fully Automated Payment Solution for the $60 Billion Global Commodity Trade Mid-Market.

Business Editors/High-tech Writers

SEATTLE--(BUSINESS WIRE)--Sept. 18, 2000

Innovative Approach to International Trade

Strengthens Online Privacy and Transaction Security

Cavio Corporation, today announced the first comprehensive online payment solution for high-value transactions from $10,000 to $50 million for small and mid-sized commodity trading companies. Cavio increases buyer and seller confidence in online transactions by combining Internet and Biometric technology with traditional world trading practices. Cavio is partnering with some of the world's largest financial institutions, including Wells Fargo and Fidelity National, and is establishing a worldwide network of licensees in North America, Europe, South Africa, India and China.

With more than 15 years in the global commodity trading industry, Cavio founder and CEO Paul Mann understands the hazards of doing business across borders. "Today's commodity traders have to cope with an inefficient system rife with fraudulent practices and misrepresentation," said Mann. "We built the Cavio solution to give traders a more effective way to conduct business--without changing the way that they are used to doing business."

Cavio automates transactions for the exchange of commodities such as novelty items, chemicals, agricultural goods, scrap metal, textiles, coffee beans, rice, sugar, etc. Until now, these transactions have been made through multiple brokers, and Letters of Credit (LCs) issued by banks. The use of LCs has left traders vulnerable to various unscrupulous practices. In many instances, goods are not delivered and payments are not made as agreed.

Cavio Instills Confidence in e-Business

Cavio is the only solution to address all four key concerns surrounding online transactions:

--  PRIVACY
    -------
      Cavio users are not required to submit personal and financial data
    to web vendors. 'Cookie' files can be set for automatic removal
    after each web browsing session. These features prevent profiling
    and tracking of users' buying habits.

--  SECURITY
    --------
      Cavio user data is stored separately in multiple secure locations.
    Personal data is stored with local bank, and thumbprint ID data is
    stored at a high-security data center. Cavio transactions are made
    directly bank-to-bank over their existing private networks. These
    features provide increased protection from hackers.

--  VALIDATION
    ----------
      Cavio transactions can only be initiated when the buyer's
    nonreplicable thumbprint data is matched with their minutia files
    stored in a high-security data center. This guarantees that others
    cannot use the buyer's account.

--  AUTHENTICATION
    --------------
      Cavio guarantees user's identity through the nonreplicable
    biometric data, eliminating the risk of misrepresentation.

The Cavio Solution

Users enroll for a Cavio account at their local bank, where they obtain a free biometric device and instructions for downloading software. Once products have been selected for purchase at any e-Commerce web site, instead of proceeding to vendor checkout, the user clicks the Cavio purchase button on their PC. Cavio is then activated and it automatically captures all relevant transaction data from the site, including product, price, and vendor details. The financial portion of the data is sent to the bank, which then initiates a bank guarantee of funds. The delivery address, product purchase data and confirmation of funds is then sent to the vendor. Upon satisfactory inspection of goods, the bank-to-bank transfer or guarantee of funds takes place.

Availability

Cavio 1.0, the beta version, is currently available on a controlled release basis. Cavio 2.0, the full production release, will be available in December, 2000.

About Cavio Corporation

Founded in November 1999 by global trade expert, Paul Mann, Cavio provides the first complete global payment solution for high value transactions from $10,000 to $50 million. Seamlessly connecting through the established international banking infrastructure, Cavio will reduce the cost and virtually eliminate any risk for buying and selling online. Unlike payment systems based on the Internet, transactions using Cavio are consummated on a bank-to-bank basis over secure banking infrastructure. Submission of personal information to vendors is not required, eliminating the threat of invasion of privacy from tracking and profiling. Cavio's Biometric thumbprint system provides a unique verification system, through its non-replicable thumb print scan that minimizes the risk of fraud and misrepresentation. For more information visit www.cavio.com, or call 800/363-1418.