Fast fact:
'Eight times as many people would use m-commerce compared to the number using e-commerce today.' - MORI research poll

Upaid launches Intellectual Property Business Unit and appoints Dr Pat Nunally Senior Vice President, Patents & Intellectual Property

LONDON & PARIS - 07 July 2003 - Upaid, a leading provider of a mobile payment authentication and authorisation service to mobile operators, card associations, banks and merchants, today announced the creation of a new business unit for Intellectual Property and the appointment of Pat Nunally, PhD as Senior Vice President, Patents and Intellectual Property (IP).

Nunally has 20 years' experience in wireless and IP development. Prior to joining Upaid, he led IBM's wireless patents portfolio development and has directed the development of numerous wireless and transaction processing technologies for a number of companies including co-founding Wave Interactive Networks (now Wave Systems) where he was executive vice president of engineering. Pat has also served as CEO of Gruppe Telekom (now part of Philips).

'My career in the development, management and commercialisation of IP portfolios, especially relating to micro-transactions, mobile payments and wireless technologies, seamlessly matches Upaid's market segment. The fundamental value of Upaid's IP is its ability to transcend networks and selectively deliver services to all participants in mobile transactions', commented Pat Nunally, Senior Vice President, Patents and Intellectual Property, Upaid. 'It is certainly one of the most interesting portfolios I have seen in recent years, and I believe it is one of the most valuable and envied in the m-payments domain.'

'Our customers can rest assured that we took the initiative to patent our technology as early as 1998, long before mobile commerce became the hot-topic that it is today in our industry. Because this is such an exciting new area of the technology, we decided to establish a dedicated Intellectual Property Business Unit to handle such issues now and in the future', commented Ashley Ward, CEO of Upaid. 'Pat Nunally will head the unit and will be responsible for assessing new developments, determining patenting potential and representing the enduring value of these efforts to Upaid.'

For further information, please contact :

Nick Giles or Sam Routley
MS&L;/ for Upaid
+44 (0)20 7878 3151 / 3137
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