SANTA MONICA and SAN JOSE, Calif., July 14, 2004 – LAWFUEL – FirstCall/ —
Stamps.com Inc. (Nasdaq: STMP) and eBay Inc. today announced that the
companies have resolved various disputes among them that led to the filing of
litigation in June 2003. eBay will pay Stamps.com an undisclosed amount up
front, designated for settlement. The parties also agreed to a three-year
license of software and intellectual property owned by Stamps.com. Further
details were not disclosed.
“We are very satisfied with the outcome in this matter,” said Ken McBride,
CEO of Stamps.com. “This deal represents a terrific return to our
shareholders for the large investment we have made in our technology and
“We are pleased to reach a mutually beneficial arrangement with
Stamps.com,” said Michael Jacobson, Senior Vice President and General Counsel
Stamps.com (Nasdaq: STMP) is a leading provider of Internet-based postage
services. Stamps.com enables customers to print U.S. Postal Service-approved
postage with just a PC, printer and Internet connection. The company targets
its services to small businesses, home offices, and individuals, and currently
has partnerships with companies including CompUSA, Earthlink, HP, Microsoft,
NCR, Office Depot and the U.S. Postal Service.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act
of 1995: This release may contain forward-looking statements that involve
risks and uncertainties. Important factors, including the company’s ability
to complete its products and obtain regulatory approval, which could cause
actual results to differ materially from those in the forward-looking
statements, are detailed in filings with the Securities and Exchange
Commission made from time to time by Stamps.com, including its Annual Report
on Form 10-K for the fiscal year ended December 31, 2003, its subsequent
Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K, if any.
Stamps.com undertakes no obligation to release publicly any revisions to any
forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.