CyberCash Names Krishna Kushwaha to New Position of Executive Vice President of Research and Development.

Business Editors/Hi-Tech Writers

RESTON, Va.--(BUSINESS WIRE)--July 6, 2000

Nortel Networks Veteran Will Focus on New Products and the

Enhancement of CyberCash's Industry Leading Payments Technology

CyberCash, Inc. (Nasdaq:CYCH), the world's leading provider of electronic payment technologies and services, announced today that it has named Krishna G. Kushwaha to the new position of Executive Vice President of Research and Development.

Kushwaha joins CyberCash from Nortel Networks, where he spent the past 22 years in a variety of technical development positions. At CyberCash, Kushwaha will focus on developing new products and services, as well as enhancing the company's existing line of industry leading payment software and service offerings.

"We couldn't be more pleased to welcome Krishna to the CyberCash family. He will help CyberCash expand its lead as a pioneer and innovator in the Internet payment space, working to both create new products and enhance our existing software and service offerings. Only by having the very best people and technologies can we continue to maintain our position as a pioneer and leading innovator in Internet payment services and software. And we intend to do just that," said James J. Condon, President and Chief Executive Officer of CyberCash.

During his career at Nortel Networks, Kushwaha worked directly for Nortel and for its research and development subsidiary, then known as Bell Northern Research. He has work experience in Canada, the United States and his native India. Most recently, Kushwaha was R&D Director of Nortel's Access Networks and RT1000, a key call center product. He holds a bachelor's degree from India's oldest engineering college, the University of Roorkee. Kushwaha also holds a Master's degree in electrical engineering and a Ph.D. in Systems Design, both from Canada's University of Waterloo.

For more information about CyberCash products, services and partners, visit the company's Web site at www.cybercash.com.

About CyberCash

CyberCash, Inc., is the world's leading provider of Internet payment services and electronic payment software. The company uniquely provides services to 25,000 Internet merchants and has shipped more than 145,000 copies of its software products. CyberCash offers the broadest reach in the payment industry with a comprehensive distribution network that includes direct and indirect sales as well as marketing partnerships with financial institutions, Internet service providers, application service providers, storefront solution providers and leading independent software vendors.