NEW YORK, September 27, 1995 -- Microsoft Corporation and Visa International announced today publication of a specification to secure payments over public and private networks. The announcement, made simultaneously here and at NetWorld + InterOp in Atlanta, is the result of almost a year of joint effort between the two companies.

The open specification, known as Secure Transaction Technology (STT), is designed to provide a secure method for handling payment card transactions across electronic networks, such as the Internet. Built as an electronic version of the payment card system used today, STT extends the current transaction security and convenience advantages to the electronic commerce market. By providing a technology that is completely integrated with the current bankcard system, STT will serve as a reliable payment system for software providers to incorporate in their products.

To encourage widespread adoption of STT, Microsoft and Visa are making the specification available at no charge to all card brands, financial institutions, software developers and the Internet community to create STT-compliant applications.

"This specification will help enable the electronic commerce marketplace by calming some of the anxieties many consumers and businesses currently have about conducting transactions over electronic networks," said Richard Lonergan, executive vice president of the Point of Transaction division of Visa. "Millions of cardholders and merchants expect security and protection whenever they use or accept a Visa card -- and we want to make sure that's the case whether they're using it at the point of sale or on the Internet."

"Consumers, merchants and financial institutions will soon have a highly secure environment for conducting transactions in the 'anytime, anywhere' world of electronic commerce," said Craig Mundie, senior vice president, Commercial Systems Division, at Microsoft. "Because STT is designed to provide strong authentication and was developed with Visa, software developers can design and deploy solutions that will ensure the highest levels of security."

Microsoft and Visa have been working to develop the STT specification since November, 1994, when they first announced their joint effort. The specification is available to download from the Internet at either the Visa or Microsoft Web site.

Founded in 1975, Microsoft (NASDAQ: MSFT) is the worldwide leader in software for personal computers. The company offers a wide range of products and services for business and personal use, each designed with the mission of making it easier and more enjoyable for people to take advantage of the full power of personal computing.

Headquartered in the San Francisco Bay Area, Visa is the world's largest consumer payment system. It plays a pivotal role in developing and implementing new technologies that benefit its 18,000 member financial institutions and their cardholders, businesses, governments and the global economy. Visa's 420 million cards are accepted by more than 12 million merchants worldwide. Visa/PLUS is the largest global ATM network.

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For More Information, Press Only:

Microsoft - Mike Jackman, Waggener Edstrom, 415/388-3216
mikej@wagged.com

Visa - David Melancon, 415/432-2427
melancon@visa.com

For Online Product Information:

Internet Web site: http://www.windows.microsoft.com