STAMPS.COM INC. COMMENCES INITIAL PUBLIC OFFERING OF COMMON STOCK

 

Santa Monica, CA – June 24, 1999 – Stamps.com Inc. (Nasdaq NNM: STMP) announced today its initial public offering of 5,000,000 shares of its Common Stock at an initial public offering price of $11 per share. All of the shares are being sold by the Company. The shares are being offered through underwriters led by BancBoston Robertson Stephens Inc., Thomas Weisel Partners LLC, Volpe Brown Whelan & Company and Wit Capital Corporation. In addition, the underwriters will have a 30-day option to purchase up to 750,000 additional shares of Common Stock to cover over-allotments, if any.

Stamps.com Inc. offers a convenient, cost-effective, and easy to use service for purchasing postage over the Internet. The Company’s core service is designed to enable users to print information based indicia, or electronic stamps, directly onto envelopes, labels or business documents using ordinary laser or inkjet printers. No additional hardware is necessary for a user to purchase and print the Company’s Internet postage; the user’s existing PC, printer and Internet set-up are sufficient to print postage 24 hours a day, seven days a week. The Company’s technology works within rigorous US Postal Service requirements to provide secure access to postage. The Stamps.com Postage Server will be designed to interact with word processing, contact and address management, accounting and corporate applications to stamp letters, invoices, statements, checks and other business documents automatically.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

A copy of the final prospectus may be obtained from the office of BancBoston Robertson Stephens Inc., 555 California Street, Suite 2600, San Francisco, CA 94104 (415) 781-9700; Thomas Weisel Partners LLC, One Montgomery Street, Suite 3700, San Francisco, CA 94104 (415) 364-2500; Volpe Brown Whelan & Company, One Maritime Plaza, 5th Floor, San Francisco, CA 94111 (415) 274-4400; and Wit Capital Corporation, 90 New Montgomery Street, Suite 201, San Francisco, CA 94105 (415) 905-6900.