Mobilocity Announces New Contract Win With J.P. Morgan, Formally Launches Mobile Financial Services Practice.

Business Editors

NEW YORK, New York--(BUSINESS WIRE)--Aug. 9, 2000

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Leading M-Business Builder Selected to Develop and Implement J.P. 

Morgans Mobile Internet Strategy

Mobilocity, Inc. (www.mobilocity.net), a leading builder of mobile Internet businesses, today announced that it has won an engagement with J.P. Morgan & Co., Incorporated (NYSE:JPM)(www.jpmorgan.com). Mobilocity today also formally launched its Mobile Financial Services Practice, designed to pioneer m-business strategies and applications in the areas of banking, brokerage and insurance.

Under terms of the agreement, Mobilocity will assist J.P. Morgan with developing and implementing a mobile Internet strategy for the bank on a global scale. Mobilocitys m-business strategists will work with J.P. Morgan to formulate a high-level business plan for mobile initiatives within the firm, conduct an assessment of mobile technologies for the bank, and develop and host m- business seminars for senior business and technical professionals at J.P. Morgan.

"Mobilocity complements our financial markets and technology expertise by bringing experience in developing mobile Internet platforms," said Andrew Comas, head of technology research at J.P. Morgan. "Mobilocitys undiluted focus on the mobile Internet and their reputation for developing and implementing highly differentiated mobile strategies made them the obvious choice."

J.P. Morgan has already taken a leadership position in developing mobile business platforms. On May 11, J.P. Morgan announced the creation of SynDirect(TM) Wireless, the world's only wireless communication platform for bond issuers and investors. SynDirect(TM) Wireless allows primary market issuers to track investors' interest for pending debt issues, and it allows investors to check current pricing and even express interest for bonds remotely - using a Palm(TM) VII Handheld Connected Organizer in the United States, or a WAP cellular telephone in Europe and Asia.

"J.P. Morgans clients and staff will benefit from the foresight that J.P. Morgan is showing by aggressively entering this quickly emerging space," commented Omar Javaid, Chief Executive Officer of Mobilocity. "While many banks and brokerages have made initial forays onto the mobile Internet, the real challenge lies in conceiving and rolling out differentiated offerings that will retain existing clients and attract new ones."

In June, J.P. Morgan led Mobilocitys first round of financing. With todays agreement, J.P. Morgan increases its commitment to Mobilocity by becoming a client as well as a stakeholder.

Mobilocitys Mobile Financial Services Practice has been formed to address the unique requirements of the banking, brokerage and insurance industries by developing and applying vertical-specific best practices. On the technology side, Mobilocitys Mobility Lab has developed deep expertise in issues related to security and scalability of financial services applications. Mobilocity also works with best-in-class partners such as Aether Systems and MobileQ to deliver optimal end-to-end mobile solutions to its financial services clients.

Mobilocity recently published a white paper on the strategies for success in mobile financial services. The paper can be obtained at http://www.mobilocity.net/html/services.html.

ABOUT J.P. MORGAN & CO., INCORPORATED

J.P. Morgan (www.jpmorgan.com) is a leading global financial services firm that meets critical financial needs for business enterprises, governments, and individuals. The firm advises on corporate strategy and structure, raises capital, makes markets in financial instruments, and manages investment assets. Morgan also commits its own capital to promising enterprises, and invests and trades to capture market opportunities.

ABOUT MOBILOCITY, INC.

Mobilocity, Inc. is a leading builder of mobile businesses. The company, based in New York City, provides m-business strategic consulting and implementation services and is differentiated by its vendor- and platform-neutral approach. As the m-business thought leader, Mobilocity is committed to helping its clients grasp and capture the rapidly emerging opportunities in the mobile Internet space. Mobilocitys clients include Global 1000 corporations, leading dot coms and next-generation mobile Internet startups. Mobilocity promotes open industry standards and is a member of the WAP Forum. The companys backers include J.P. Morgan, LCC International, Cambridge Samsung Partners, and Comdisco Ventures. For more information on Mobilocity, Inc., please visit http://www.mobilocity.net.