NEW ONLINE PAYMENT PROVIDER, GREENZAP, OPENS WEBSITE TO PUBLIC

La Jolla, California, June 1, 2005 – GreenZap, Inc., a new consumer-based, online payment provider, opened its website doors today welcoming nearly 200,000 pre-registered members to explore the GreenZap website and begin using its services. GreenZap began accepting account pre-registrations on April 2, 2005. Users of GreenZap can send and receive money online globally using email. GreenZap is similar to eBay’s® payment processor PayPal®, but touts lower transactions fees and superior customer service. GreenZap also unveils today its interactive, community tracking system, the ZapMap. The ZapMap enables users to dynamically view their friends and family that have opened accounts. According to GreenZap’s President Alex Sonkin, “the multi-dimensional ZapMap technology allows our members to interactively search and view the community they are transacting with. ZapMap is the eyes and ears of our community. By its mere existence, transactions conducted by individuals will be more secure and less susceptible to fraud because everyone can see their community. It’s like the Kevin Bacon 6-degress of separation phenomenon – everyone will know someone, who knows someone else.”GreenZap rewards account holders for telling their friends and family about GreenZap. Account holders are rewarded anywhere from $5 to $30 and receive their earnings as a combination of cash and WebCash. GreenZap’s WebCash can be used virtually anywhere online to purchase goods and services from hundreds of retail outlets offering thousands of brand names. From hotels, restaurants and travel to toys, electronics and attire.“WebCash can be used to pay for GreenZap transactions fees, used to send to anyone with an email address, or used at GreenZap Storez to purchase goods and services from GreenZap’s global network of preferred merchants,” says Sonkin. “The only difference between cash and WebCash is that WebCash can only be used, as the name says, on the web.”GreenZap launched its pre-registration website and marketing campaign on April 2, 2005, and within one week GreenZap was attracting over 3,000 pre-registrants each day. GreenZap anticipates capturing a large percentage of the existing online spending community, but sees its brand and messaging appealing to a new generation of online spenders. “The GreenZap brand is young, hip, and fun, but the site maintains a clean, professional design given the financial aspect of the products and services being offered,” said one of GreenZap’s brand managers.GreenZap offers two types of accounts, a basic GreenZap account and an upgraded Gold account. The Gold account offers reduced transaction fees, increased rewards, and a GreenZap Stored Value MasterCard® or Visa® for off-line spending.