Proginet Files For 10-SB Registration Status With SEC To Become U.S. Trading Company

Business Wire, March 29, 2000

Business & Technology Editors

GARDEN CITY, N.Y.--(BUSINESS WIRE)--March 29, 2000

Proginet Corporation (VSE:PRFu.V) announced today that it has filed Form 10-SB with the Securities Exchange Commission for the purpose of registering the company's securities. The filing was electronic and may be viewed at the official SEC Internet site.

Mallory Factor of Mallory Factor Inc, corporate advisor and investor relations consultant to Proginet, stated, "The 10-SB filing, when declared effective by the SEC, is the first step in allowing Proginet to become a fully reporting company. Hopefully, when effective, and the company becomes a fully reporting company, Proginet's visibility will be enhanced in key public markets, and U.S. investors will be able to better follow the company's progress."

Proginet Corporation develops leading-edge software products that seamlessly integrate IBM mainframes and midrange computers with Microsoft Windows NT and other distributed client/server environments for enterprises doing business around the world. The Company's products address the systems management software space, including enterprise managed data transfer, Internet managed data transfer and password management. Proginet's CyberFusion(TM) software allows information to be used anywhere, anytime and in any way. Proginet's SecurPass(TM) software simplifies enterprise password management.

For more information, please visit the Proginet web site at: http://www.proginet.com.

(c) 2000 Proginet Corporation

The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.