First Ecom.com and Microsoft Enter into Agreement to Create E-Commerce Payment Gateway Module for Microsoft Products

Business Wire, July 19, 1999

HONG KONG--(BUSINESS WIRE)--July 19, 1999--

First Ecom.com Inc., (OTC BB:FECC), a leading Internet payment service provider for companies based outside North America, today announced it has entered into a development services agreement with Microsoft Hong Kong Limited.

Under the agreement, Microsoft will develop a payment gateway module for its Microsoft Site Server Commerce Edition, designed to integrate with First Ecom.com's e-commerce payment back-end, providing real-time settlement capability for online merchants. The key feature of the module being multi-currency processing enabling e-commerce for a worldwide market.

The project is expected to be completed in approximately one month.

About First Ecom.com

First Ecom.com (OTC BB: FECC) is a leading provider of online payment processing services for merchants outside of North America. Through a series of strategic alliances, First Ecom.com approves merchants and processes transactions in a tax-neutral jurisdiction without the need for using U.S. banking institutions or U.S.-based ISPs.

FEC offers online credit card processing solutions for merchants in their preferred currency. For more information, contact First Ecom.com at 888/305-8233, by e-mail at ir@firstecom.com or at www.firstecom.com.

Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.