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Diversinet and Oasis Technology Sign License Agreement; Joined Product Suite to Secure Open Internet Systems for Financial & Business Systems Worldwide.

TORONTO--(BUSINESS WIRE)--Oct. 28, 1998--Diversinet Corp. (Nasdaq Small Cap:DVNTF) (CDN:DVNT) a leading technologies provider for authentication and authorization security for digital communications and electronic commerce over corporate networks, the Internet and telecommunications systems, today announced that it has entered into a licensing agreement with Oasis Technology, a worldwide leading developer and marketer of electronic transaction processing and E-commerce payment software solutions for financial institutions, service providers and retailers worldwide.

Under the terms of the agreement, Oasis and Diversinet will work together with a view to incorporate Diversinet's Passport Certificate Server product into the Oasis Technology IST (Information Switching Technology) suite of business solutions.

Oasis Technology's IST suite of business solutions provides a wide range of E-commerce and electronic payment processing within intranet and internet systems and certified access to major international networks for worldwide clients such as MasterCard, VISA, Diners Club, and Europay. Oasis E-commerce solutions now include complete services for PC banking, SET(TM) Payment Gateway, and OFX (Open Financial Exchange). Oasis solutions are currently installed in more than 65 countries worldwide.

"As businesses expand worldwide, companies must turn to vertical solutions designed to cut the costs of expensive telecommunication-oriented, closed, network systems. These solutions, which include electronic commerce, electronic fund transfer, automated teller machines (ATM), point of sale systems, and electronic data interchange, require systems that allow instant, secure, worldwide access to funds and information," says Ashraf Dimitri, President & CEO of Oasis Technology, Ltd. "As our client base of financial institutions, service providers and retailers moves into the Internet marketplace to capitalize on global customer access and lower costs, additional security measures become essential. We are looking to the Diversinet Passport Server to provide those solutions, while maintaining privacy, integrity and simplicity," added Mr. Dimitri.

The Diversinet Passport Certificate Server provides the foundation for enabling secure transactions from within business applications. The certificate server issues digital certificates on demand to authenticate users to business applications, which run on corporate networks, wireless environments, and the Internet.

"Entering this agreement with Oasis is very exciting. Their worldwide presence keeps them abreast of industry trends and requirements. We anticipate that this relationship will create more opportunities for Diversinet to grow on an international basis. Oasis has an excellent reputation worldwide for being a reliable, full service supplier of on-line transaction processing systems," says Mr. Nagy Moustafa, President and CEO of Diversinet. He continued, "Oasis offers Diversinet a solid international customer base which will benefit from the additional security that our Passport Server offers the on-line transaction processing marketplace."

Diversinet Corp. (www.dvnet.com) is a leading provider of Digital Certificate management tools and a developer of public-key infrastructure (PKI) technology required for corporate networks, Intranets, and the Internet for electronic commerce. Diversinet's PKI technology offers diverse security authentication applications that are easy to use, operate efficiently and offer flexible implementation.

Oasis Technology Ltd. (www.oasis.on.ca), formed in 1989, is a leading provider of E-commerce payment system solutions on open platforms. Oasis develops innovative E-commerce payment software solutions for the next generation of online transaction processing, radically changing the way transaction processing has been done around the world. Oasis has global sales offices in the United States, Malaysia and Canada, as well as a broad network of licensed distributors. Oasis serves companies of all sizes throughout North America, South America, the Caribbean, Europe, the Middle East, Africa, and the Asia-Pacific region. In 1997, Oasis won Profit magazine's award for the fastest growing company in Canada.

This press release may contain forward-looking statements relating to Diversinet. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are delays in product development, undetected software errors and bugs, competitive pressures, technical difficulties, market acceptance, changes in customer requirements, and general economic conditions. All other companies and products listed herein may be trademarks or registered trademarks of their respective holders.
COPYRIGHT 1998 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Oct 28, 1998
Words:648
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