From: Robert Hettinga <rah@shipwright.com>
Date: Mon, 28 Apr 1997 10:10:37 -0700 (PDT)
To: cypherpunks@toad.com
Subject: DigiCash appoints CEO and...
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Date: Mon, 28 Apr 1997 22:39:42 +1000
From: Andreas Furche <andreas@digicash.com>
Reply-To: andreas@digicash.com
MIME-Version: 1.0
To: ica@syd.dit.csiro.au
Subject: DigiCash appoints CEO and...
Sender: e-payments-owner@digicash.com
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This message was addressed to:  e-payments@lists.commerce.net
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DIGICASH APPOINTS CEO, INCREASES OUTSIDE INVESTMENT, AND MOVES
HEADQUARTERS TO CALIFORNIA

MENLO PARK, CA (April 28, 1997) -- DigiCash Inc, a leader and pioneer in
smart card technology and secure and private Internet payments software,
today announced the appointment of Michael Nash as chief executive
officer (CEO) of its worldwide operations.
DigiCash founder, Dr. David Chaum, also announced significant
additional investment that will fuel the company's growth.

Nash will join Dr. Chaum, Nicholas Negroponte, and new investor David
Marquardt of August Capital, on an expanded board that adds new
resources and depth of industry experience to DigiCash.  His primary
mission will be to add business and marketing excellence to the world
class cryptographic expertise and technology that has enabled
development of such cutting edge products as ecash(tm) and OEM smart card
systems, for which DigiCash is recognized throughout the banking and
financial services industry.

"Mike brings a new dimension to DigiCash with his background in the
business of electronic payments and his international marketing
experience with Visa, American Express and the SmartCard Group at
Amdahl," said Dr. Chaum.  "The partnership that we form will take this
company a great step forward and help us grow into a significant force
in the business of electronic commerce."

Nash, who conceived and developed VisaCash, a smart card-based, stored
value payment system, will create an international sales and marketing
strategy for smart cards and ecash(tm), the unique Internet payment system
which offers both security and privacy.
DigiCash is already providing ecash(tm) systems to Deutsche Bank in
Germany, Bank Austria, Advance Bank in Australia, Den norske Bank of
Norway and the Nomura Research Institute in Japan, as well as other
leading banks.

Further expansion in North America, where the company is newly
headquartered, will be a major focus for the new CEO.  Another reason
for the move is to facilitate alliances with firms in the Silicon Valley
area that are pioneering commerce on the Internet.

"Ecash(tm) is at the forefront of a revolution in the way the world does
business," said Nash.  "DigiCash technology offers the security and
privacy that is inherent in traditional bearer instruments such as coins
and bank notes, but with the flexibility and power of the Internet.
This is a great opportunity to shape the new way commerce will be done."

DigiCash interim Chairman Nicholas Negroponte, author of Being Digital,
head of the MIT Media Lab and a member of the Motorola Inc. board is
quoted as saying, "Ecash(tm) is the most exciting thing I've seen in 20
years."  Negroponte is also a general partner of Applied Technology
Investors, one of the firms that is backing DigiCash.

Newly appointed director David Marquardt, General Partner at August
Capital, and previously Technology Ventures Inc. (TVI) was an early
investor in Intuit, Sun Microsystems and Verifone.  He also was the sole
venture investor in Microsoft where he currently serves on their board
of investors.  He too is excited by the possibilities of the technology
that lies at the heart of DigiCash Products, saying, "This is the type
of basic infrastructure that will be essential for the commercial growth
of electronic payments on the Internet."

The target market for ecash(tm) is enormous.  There are more than 20,000
banks and over 10 million retailers around the world that are potential
customers for ecash(tm) transactions, and more than a billion consumers who
want the security, privacy and convenience of electronic coins and
banknotes.  Nash, who has already taken up his appointment with
DigiCash, sees this entire market as an opportunity for his company.  As
well as targeting additional leading banks and other customers in North
America and the Pacific Rim, he has a stated goal of establishing
relationships with leading banks in the G7 nations, a goal which is
already more than half accomplished.

About DigiCash

DigiCash is a private venture capital backed corporation with
headquarters in the United States and offices in The Netherlands,
Australia and Singapore.  Founded by Dr. David Chaum, a luminary in the
field of cryptography and electronic cash technology, the company creates
and markets the most sophisticated software in the world for smart cards
and secure, private Internet payment transactions.

 - end -

EDITORS NOTE: More information on DigiCash and biographies of Michael
Nash and Dr. David Chaum are available from LVA or by accessing the
DigiCash Website at http://www.digicash.com/

DigiCash and ecash are trademarks of DigiCash and should always be
referred to as such.  All other trademarks are the property of their owners.

Contact details:

Netherlands				United States
DigiCash bv				LVA
Toby Chaum				Ian Cheeseman
Ph:		+31 20 665 2611		Ph:		+1 860 739 5598
Fax:		+31 20 665 1126		Fax:		+1 860 691 0353
email:  	press@digicash.com	email: 	icheeseman@mcimail.com
					United Kingdom/Europe
Australia:				LVA UK
DigiCash Pty Ltd			Mike Hardwidge
Andreas Furche				Ph:		+44 181 994 6762
Ph:		+61 2 9375 2316		Fax:		+44 181 995 3050
Fax: 		+61 2 9375 2121		email: 	101765.1155@compuserve.com
email: andreas@digicash.com

--
Andreas Furche					Level 29 The Chifley Tower
Managing Director				2 Chifley Square
DigiCash Pty. Ltd.				Sydney 2000, Australia
e-mail: andreas@digicash.com			ph  +61 2 9375 2316
mobile (0419) 385 569 (NEW number!)		fax +61 2 9375 2121



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