Proginet Form 10-SB Clears SEC Comments

Business Wire, Sept 5, 2000

Business Editors

GARDEN CITY, N.Y.--(BUSINESS WIRE)--Sept. 5, 2000

Proginet Corporation (CDNX: PRG.U) announced that its Registration Statement on Form 10-SB has cleared the SEC's process of review and comment, making it possible for Proginet to begin trading on the OTC Bulletin Board.

Proginet President and CEO Kevin M. Kelly stated, "The move to the U.S. market is exciting for Proginet, and is the realization of one of our key corporate goals. I am confident that trading on the OTC Bulletin Board will benefit our many loyal shareholders by giving them increased liquidity, and will provide Proginet with increased credibility and access to capital markets. Further, the increased exposure that Proginet will experience by trading on the OTC Bulletin Board will broaden the Company's opportunities to expand its investor base to allow more shareholders to share in Proginet's future."

Mallory Factor of Mallory Factor Inc, corporate advisor and investor relations consultant to Proginet, added, "The move to the OTC Bulletin Board will further enhance Proginet's visibility in key public markets and its credibility with investors."

Proginet Corporation develops state-of-the-art software applications that integrate multiple computing environments for e-businesses running OS/390 from IBM (NYSE:IBM), Windows from Microsoft (NASDAQ:MSFT) and UNIX platforms from Sun Microsystems (NASDAQ:SUNW), Hewlett-Packard (NYSE:HWP) and others. Proginet's software addresses 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 streamlines enterprise password management and cuts help desk costs.

For additional information, please visit the Proginet website at www.proginet.com.

(c)2000 Proginet Corporation. All rights reserved.