GlobeSet announces the first live, U.S. SET transaction and the first U.S. SET pilot, conducted at the Wal-Mart Online Store

Business Wire, June 2, 1997

AUSTIN, Texas--(BUSINESS WIRE)--June 2, 1997--

Secure payment card purchase at WWW.WAL-MART.COM made possible

with solution developed by GlobeSet, Wal-Mart, American Express

and GTE

GlobeSet, Inc., has announced the first live, U.S. Internet transaction using the Secure Electronic Transaction (SET) protocol. SET is an electronic commerce protocol developed by Visa, MasterCard and their technology partners, including GlobeSet, for secure payment card transactions over the Internet.

Today's transaction, which consisted of an American Express Cardmember ordering, purchasing, and requesting shipment of a drill press at the Wal-Mart Online store (located at www.wal-mart.com) on the Internet, marked the successful introduction of live, SET transactions to the United States. The transaction was conducted in a SET pilot, also the first in the United States, developed by Wal-Mart in a joint effort with GlobeSet, American Express Travel Related Services Company, Inc., and GTE.

For the Wal-Mart pilot, GlobeSet provided two applications: GlobeSet POS and GlobeSet Wallet. GlobeSet POS is a point-of-sale application residing on the merchant's server. It connects the merchant to the buyer and to the banks and other financial institutions that manage and process payment card transactions.

"Wal-Mart's implementation of SET-secured payments relies heavily upon the GlobeSet POS application," said Randy Mott, chief information officer for Wal-Mart Stores, Inc. "GlobeSet has demonstrated a firm understanding of the SET technology. Their commitment to interoperability assures us that our customers will be able to purchase from our online store using a wide variety of SET- enabled technologies."

GlobeSet also provided GlobeSet Wallet, an electronic wallet application that resides on the payment card holder's computer and communicates via the SET protocol with the merchant. Using GlobeSet Wallet, an American Express Cardmember transmitted information securely over the Internet to the American Express Gateway for authorization and payment. GTE provided certification authority (CA) services. A CA issues and manages digital certificates that offer proof of identity for all parties participating in an online transaction.

GlobeSet is one of the foremost SET software developers today, with a comprehensive SET solution supporting all four parties involved in secure, SET payments over the Internet. In addition to the applications used in the Wal-Mart pilot, GlobeSet offers:

-- GlobeSet Gateway, a payment gateway application connecting the

merchant to the payment processor and processor's legacy

systems for payment authorization

-- GlobeSet CA, a digital certificate application that generates and

manages SET CA certificates

"SET offers our Cardmembers and merchants a high level of security when making transactions over the Internet," said Andrew Bartels, vice president of encrypted payments at American Express. "Our goal is to make electronic commerce safe and easy for our customers, and we are delighted to be working with GlobeSet, Wal-Mart and GTE to make this happen."

"This pilot demonstrates that SET is ready and available today for secure Internet shopping," said Michael Cation, chairman and CEO of GlobeSet. "It has been a privilege working with Wal-Mart, American Express and GTE on a project of this importance. We believe the Wal- Mart pilot is a historic event in the development of SET as the standard for electronic commerce transactions."

GlobeSet has been at the center of SET development since 1996. The company is a part of the SET design team and has served as an active member of the SET Business Review Board. It is one of only four companies that have recently passed the SET compatibility testing sponsored by Visa and MasterCard (May 1997). In addition, Tandem Computers has chosen GlobeSet as their sole source provider for SET solutions.

Founded in 1994, GlobeSet, Inc. is a privately-held corporation headquartered in Austin, Texas. Strategic equity investors include Bankers Trust, Tandem Computers Incorporated, and Verity, Inc. GlobeSet's outside board of directors include Philippe Courtot, CEO and chairman of Verity Inc.; John Herron, senior managing director of Bankers Trust BT Ventures; and Roel Pieper, CEO of Tandem Computers Incorporated.

Additional information on GlobeSet is available on the World Wide Web at http://www.globeset.com .

CONTACT: GlobeSet, Inc., Austin

Richard Cole, 512/427-5114

Fax: 512/427-5101

cole@globeset.com

http://www.globeset.com