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EforNet Corporation, a Subsidiary of Upgrade International Corp., Announces the Formation of Its Beta Testing Support Group.

Business Editors

LOS GATOS, Calif.--(BUSINESS WIRE)--March 23, 2000

EforNet Corporation, a subsidiary of Upgrade International Corp. (OTCBB:UPGD), has assembled a team of software designers and engineers led by Mr. Kenneth Donnelly the company's new Chief Operating Officer to test and implement the first Beta of the Ultracard and Egis Vault Operating System (EVOS) in a real world application. "In this team, we have attracted the most qualified individuals available today in the areas of banking and, more broadly, in financial services," said Mr. Donnelly.

"The company is in the process of producing a high visibility Beta test to prove the reliability and usability of the Ultracard in a day-to-day setting, and the security and functionality of the Egis Vault Operating System. Details of the Beta test will be announced shortly as all participants of the test sign off on the desired scope and deliverables," added Mr. Zucker, President of Efornet.

EforNet's new Chief Operating Officer, Mr. Donnelly is a leader in Global Information Systems. As a specialist in the Financial and Travel industries he brings to EforNet over 20 years experience as a project manager, system developer and applications architecture, having worked with companies such as Citibank, Visa International, Chicago Board Options Exchange, Logitek and Bank of America. Mr. Donnelly is an expert in applying advanced technology to business opportunities in new and innovative ways.

Internal participants of the Beta test include Mr. Winn Derman whose experience includes 24 years at Visa International where he developed the original business case for and lead the implementation team for the Exchange and Clearing Systems (Base II), managed the Service Exchange Authorization System (Base I), Developed the technical specifications for Magnetic Stripe implementation and Personal Identification Number (PIN) encoding, and managed Visa's 22,626 ATMs in 26 countries. Mr. Derman was a Visa standard committee representative to ABA, ANSI and ISO Standards Groups.

Mr. Irwin Werbin, whose experience includes 29 years at Citibank where he was Vice President of Operations and Technology. Mr. Werbin was responsible for ATM, POS access channels, Call Center fulfillment. Mr. Werbin's many duties over his career at Citibank included: Managing operations and maintaining MasterCard and Visa interfaces, director of prepaid (Stored Value) card technology.

Mr. Karl Burghart has 30 plus years experience working with large domestic and international banks. His experience includes the startup of a fifty branch domestic bank and two major international branches in the U.S. His expertise is in business process re-engineering, item processing, performance improvement, application system design and electronic funds transfer systems (cash management). He has been active in the credit card, POS and ATM technology since 1968.

Commenting on the composition of the new team, Mr. Daniel Bland, President of Upgrade International said the following: "EforNet has embarked on the development of the Egis Vault Operating System; David Zucker's objective has been to attract a quality team that will deliver the architecture of the EVOS operating system. We believe that Mr. Donnelly's expertise and strategic insight coupled with his commercial skills will enable EforNet to pursue targets in both the U.S. and Europe."

Upgrade International Corp., (www.upgd.com) is focused on the development and acquisition of state-of-the-art information technology. In addition to EforNet Corp., (www.efornet.com) one of the companies in which Upgrade holds a substantial stake, UltraCard Inc., has developed an innovative system for high capacity data storage. The management of UltraCard, Inc., (www.ultracard.com) believes that their developed and patented product represents a significant advance in the method consumers and businesses will utilize portable data, integrating UltraCard products into everyday life. Utilizing existing hard disk storage technology, UltraCard provides a unique and highly durable media in a common credit card format, to satisfy the next generation in personal portable data storage for a broad range of existing and new market sectors. UltraCard currently provides several megabytes of memory and is fully editable. Management estimates that more than 1 gigabyte of recordable data, on a single credit card format, can be achieved without the need for compression technology.

This news release may contain forward-looking statements relating to future results, performance, plans, events or other matters. Such statements involve numerous risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of the Company's products and services and markets for such products and services, the timing and level of customer orders, competitive products and services and pricing, changes in economic conditions and the markets for the Company's products and services and other risks and uncertainties. Actual results, performance and events may differ materially. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this News Release. The company undertakes no obligation to release revisions to these forward-looking statements to reflect events or circumstances after the date of this News Release.
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Publication:Business Wire
Date:Mar 23, 2000
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