Proginet Corrects and Replaces Previous Announcement, BW1287 NY-PROGINET.Business Editors The following replaces and corrects the previous Proginet news release, which ran earlier today, Wednesday, January 20 on Business Wire, BW1287 (NY-PROGINET) GARDEN CITY, N.Y.--(BUSINESS WIRE)--Jan. 20, 2000 Proginet Corporation Announcements: Partners Conference, Microsoft Healthcare Users Group Membership, Investor Relations Advisor Appointed Proginet Corporation (VSE See DOS/VSE. VSE - Virtual Storage Extended :PRFu.V CDNX CDNX See Canadian Venture Exchange (CDNX). : PRF PRF abbr. prolactin-releasing factor .U) announced its upcoming Partners Conference, its membership in Microsoft Healthcare Users Group and the engagement of an investment relations consulting firm. Proginet will host over two dozen delegates from its indirect channels representing North America, Europe, the Pacific Rim and Asia, at its third annual Partners Conference in New York on January 26-28, 2000. Attendees, including new partners Broad Corporation (Japan), Emmo (Belgium), Executive Computing (Australia), Metastore (Benelux) and MPS (UK), will receive advanced sales and technical training for Proginet's SecurPass and CyberFusion software products. Proginet has joined Microsoft Healthcare Users Group, Inc. (MS-HUG) to promote the recent release of CyberFusion-HIPAA, Proginet's Internet information transfer application that is fully compliant with HIPAA (Health Insurance Portability & Accountability Act of 1996, Public Law 104-191) Also known as the "Kennedy-Kassebaum Act," this U.S. law protects employees' health insurance coverage when they change or lose their jobs (Title I) and provides standards for patient health, and the Health Care Financing Administration Health Care Financing Administration, n.pr department in the U.S. agency of Health and Human Services responsible for the oversight of the Medicaid and Medicare benefit programs, including guidelines, payment, and coverage policies. Privacy Act. MS-HUG's mission is to provide industry leadership, drive appropriate standards and develop associated requirements in support of healthcare solutions. CyberFusion-HIPAA is the newest addition to Proginet's line of critical software solutions used by major healthcare and insurance companies worldwide. Proginet Corporation has entered into an agreement with Mallory Factor Inc (MFI) to act as corporate advisor to Proginet for one year, effective September 22, 1999, which can be extended upon mutual agreement. MFI consults to Proginet's management on financial relations aspects and develops programs designed to achieve Proginet's financial relations objectives. MFI conducts itself in accordance with the appropriate professional standards of its industry. MFI receives an overhead charge of $3,500.00 per month for the term of the agreement, plus expenses. MFI's compensation is 150,000 warrants. MFI can earn up to 350,000 additional warrants contingent upon Proginet's achieving certain milestones including stock price performance. All warrants are struck at $0.54. Proginet Corporation is an Internet software company that develops communication and password management products for e-businesses running OS/390 from IBM (NYSE NYSE See: New York Stock Exchange :IBM), Windows from Microsoft (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :MSFT) and UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). platforms from Sun Microsystems (NASDAQ:SUNW), Hewlett-Packard (NYSE:HWP) and others. Many of the world's largest corporations and government agencies use industry-leading software from Proginet. Proginet has distributors throughout the world and is listed on the Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) under the symbol PRF.U. (c)2000 Proginet Corporation. Proginet, SecurPass and CyberFusion are trademarks of Proginet Corporation. The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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