LINCOLN, Neb.--(BUSINESS WIRE)--April 30, 2003--

Service Offers Extensive Online Music Library and Provides Consumers with Financial Incentives to Download Files Legally in a Reliable and Secure Environment.

File-Cash, the world's first legitimate online music file sharing service based on the popular peer-to-peer delivery method, will launch June 1 and offer consumers an extensive catalog of music from over 100 independent labels.

File-Cash will utilize the new SussexValley E-Cash(TM) digital cash technology to enable direct and instant payments, including micropayment transactions of as little as 1/10 of a cent, to the artists, labels, publishers and other rights owners. It will also offer financial incentives for consumers to download registered files and co-host the files on their home computers' shared directories.

"For many years, the music industry has been struggling to compete against the increasing popularity of illegal file-sharing on peer-to-peer networks, which cuts significantly into the industry's legitimate revenues," said Brian Ginn, President and co-founder of File-Cash. "Our answer is not to fight peer-to-peer networking, but to embrace it. File-Cash represents a significant, cost-effective and logical step forward in leveraging the power and popularity of the P2P platform in a way that meets the unique needs of artists and consumers."

According to Ginn, copyright owners register their music into the File-Cash network via a simple web-based control panel. They enter relevant artist and file information, search keywords, as well as set the price of the digital file. All files hosted on File-Cash are encrypted with sophisticated Digital Rights Management (DRM) technology to track every download across the entire network, allowing immediate, predetermined payments-per-transaction to all relevant parties. There is no cost for consumers to join File-Cash. They install an easy-to-use, cross-platform application provided by File-Cash to help them quickly find and download their favorite files. Additionally, consumers will get a percentage of the file price every time another consumer downloads the file from their shared drive.

The File-Cash protocol allows artists, distributors, record labels and other digital content providers of any size to register as many or as few files as they wish without any risk or obligation. Rights owners can set and change their prices, payments and usage rights at any time. For consumers, there are no subscription fees and no obligations to share their files, though file usage will be governed by the criteria placed upon them by the individual copyright owners.

"Like every business, price is the foremost barrier to successfully selling music on the Internet. Why pay 99 cents to download a song when, with a simple click of the mouse you can get it for free, without any limitation of use whatsoever?" Ginn noted. "We make it profitable for the consumer to download our registered files. In addition, since we control the quality of that file, consumers are guaranteed that the file they request is the file they receive. The risk of downloading corrupted files, files with offensive or potentially unlawful content, as well as viruses are nonexistence. We believe this is the first true, practical business model for the legitimate distribution of music and other digital content on the Internet using the popular peer-to-peer method."

Enabling File-Cash's seamless distribution and payment system will be a new generation of encrypted digital cash technology, E-Cash(TM), developed by SussexValley, a company that specializes in innovative encrypted software for underwriting, minting and validating "blind" signature electronic cash and digital depository receipts (DDRs).

"In order to succeed, File-Cash needs to split payments of less than a dollar and even cents among numerous vendors, artists and consumers with every transaction - and do this literally millions of times per day. This would be highly impractical and cost-prohibited using traditional payment methods such as credit cards," notes Ted Simson, President and Founder of SussexValley. "Our E-Cash(TM) technology enables micropayments of as little as 1/10 of a cent with no transaction fees. It also instantly authenticates that payment without referencing a financial institution, enabling the first true peer-to-peer commerce. E-Cash(TM) can be converted into the legal currency of choice at any time. By using E-Cash(TM) as the enabling technology, File-Cash ensures every monetized transaction is seamless, instantaneous, and exceptionally accurate."

 About SussexValley

SussexValley is a privately held company that specializes in developing innovative encrypted software for underwriting, minting and validating "blind" signature electronic cash and digital depository receipts (DDRs). SussexValley is leading the evolution in superceding cash, credit and debit cards as the preferred method in all electronic, computer-based financial transactions, including peer-to-peer, e-commerce and other platforms in which a monetary payment can be made electronically.
For more information, contact info@SussexValleyJaycees.com.
You can also log on to Web at www.SussexValleyJaycees.com.

 About File-Cash

File-Cash is the first online music service to offer consumers a true financial incentive to legally download music and other digital media and share it using the latest peer-to-peer file sharing delivery method. File-Cash utilizes the new E-Cash(TM) digital depository receipts (DDRs) technology, which enables true peer-to-peer commerce. In the File-Cash P2P environment, every file download initiates a transaction of E-Cash(TM) directly and instantly to the content owner/copyright holder. The Peer Host of the file being downloaded also receives a percentage of the transaction for their participation in the File-Cash P2P network.