Princeton Learning Systems Teams With CyberSource To Open New Sales Channel; Electronic Commerce Solutions Now Available To Clients Of Leading Online University

Business Wire, May 28, 1998

SAN JOSE, Calif.--(BUSINESS WIRE)--May 28, 1998--Princeton Learning Systems (PLS), a provider of online learning and compliance solutions, and CyberSource, a global leader in Internet transaction processing and fulfillment services, have announced an agreement that will open a significant new online transaction-enabled sales channel for PLS' core product, the online Financial Services University, while providing PLS clients with valuable new electronic commerce solutions.

PLS' online Financial Services University (FSU) -- a customizable "virtual university" -- is distributed via the Internet to financial services organizations on a subscription basis, in order to provide continuing education to their employees. FSU will now add CyberSource's comprehensive transaction processing capabilities to allow its subscribers' employees, and even end-consumers such as individual investors, to pay online on a more flexible and more easily managed per-use basis.

Under the agreement, PLS and its clientele will take advantage of CyberSource's broad range of electronic commerce services including credit card authorization and validation, export and restricted parties screening, fraud screening, territory management and the handling of various other transactions. PLS will also use CyberSource's global rights registry for the issuance of electronic keys and the maintenance of PSU's critical intellectual rights database.

"This partnership enables us to add significant new value to our clients, which include such companies as DLJ Pershing Division, Morgan Stanley, Scudder Kemper, and Paine Webber's Correspondent Services Corporation," said Steven Haase, co-founder and EVP of PLS. "Many of our clients resell FSU educational services to scores of other organizations, and the ability to accept secure online payments from end users will allow them to more fully leverage the power of the Internet and more rapidly extend and grow their markets for these services."

"The combination of Princeton Learning Systems' expertise in implementing online education solutions coupled with our leadership in digital commerce, provides PLS's clients with the ability to fully implement innovative Electronic Commerce solutions using online education as an initial application," said Greg Quinn, CyberSource vice president of marketing and sales. "Together, PLS and CyberSource are electronic commerce-enabling PLS' entire clientele."

As a customizable "virtual university," FSU incorporates training programs and tests from leading training publishers and delivers them to financial industry firms, employees and consumers on a web-based platform. It is designed to train, test and track continuing education, compliance and ongoing professional development via the Internet and internal corporate Intranet systems. Subscribing companies can customize the FSU package to meet any special requirements, such as corporate identification, internal training and policy issues, programs, sales literature, or customer and employee surveys.

About Princeton Learning Systems

Princeton Learning Systems designs, implements, and manages Internet- and Intranet-based virtual universities for corporate training, certification, and compliance issues. Its core product, Financial Services University, represents a turn-key solution for delivering, managing and certifying continuing education and compliance. PLS is based in Princeton, N.J.

About CyberSource

CyberSource Corporation is a global provider of Internet transaction processing and electronic fulfillment services. More than 250 major software publishers, distributors and resellers have turned to CyberSource. The CyberSource suite of electronic commerce services are optimized for the delivery of digital products. CyberSource's quick-start program enables merchants to process transactions online in as little as a week. CyberSource's customers include Adobe, AutoDesk, IBM/Lotus, Liquid Audio, Microsoft, Netscape, Qualcomm, Real Networks, Symantec, Programmer's Paradise, Tandem, and Wall Data.

Founded in 1994, CyberSource is a privately held company headquartered in San Jose, Calif. and maintains offices in the United States and Europe.

    CONTACT: CyberSource Corporation
              Marguerite Padovani, 408/260-6058
              padovani@cybersource.com
              http://www.cybersource.com
              or
              Princeton Learning Systems
              Steven Haase, 609/924-2882
              shaase@fsu.org
              http://www.fsu.org