Yippee Ltd first off the rank

Yippee Ltd first off the rank in hp garage dot.com program

hp announces first New Zealand garage program partner

Auckland, 10 August 2000 -- Hewlett-Packard New Zealand today announced that Auckland-based internet company Yippee Ltd is to be the first off the rank in the hp garage dot-com program.

Part of a global initiative, the hp garage program provides a comprehensive package of financing, IT infrastructure, technical expertise and marketing to start up Internet companies.

HP New Zealand has formed a partnership with Yippee Ltd, which has already launched a shareware site and adware technology.

“Since June when the hp garage program was launched locally, we have been approached by more than 50 people with dot.com businesses. This is an excellent response and indicates the high level of activity in this market,” says Mark Bowman, general manager solutions for HP New Zealand.

Yippee Ltd was chosen because of the strength of their proposition and the value that HP could add to their business, he said.

“With our hp garage program partners we will be adding value through not only technical partnership but also the strength of our global relationships and market knowledge,” he added. “We identified that Yippee offers a dynamic concept for Internet users – one which we are sure will grow rapidly.”

Mark Stuart, founder of Yippee says: “As a New Zealand company launching a global business we are excited to be partnered by an organisation with the skills and contacts of HP.”

Yippee Ltd was established in November 1999 and immediately launched a shareware site – Yippee.net, which enables users to gain instant and free access to more than 4,000 items of downloadable software.

Earlier this week, the company launched Mambezi.com, adware technology that allows people to download free software in return for receiving targeted advertising on their screens. Mambezi.com is available through the Yippee.net site.

As a global site operating out of New Zealand, Yippee.net provides access to software from around the world and has significant local content, offering everything from guitar training to speedway racing.

As part of the hp garage dot-com program, HP will provide up to $3.6 million per company for 15 to 20 companies in Australia and New Zealand. The program aims to complement rather than compete with funding provided by venture capitalists.

Globally, HP will invest up to $600 million in the hp garage program in 2000.

“The hp garage program is another example of HP’s commitment to industry development in New Zealand and aims to identify and invest in those companies that are potential leaders in the global Internet economy,” Mark Bowman said.

“The fact that we have been able to identify a partner company so early in the program is very exciting and we are looking forward to helping in their development,” he added.

Further information on hp garage program is available on http://www.hpnz.co.nz/e-services/garage

About HP

Hewlett-Packard Company -- a leading global provider of computing
and imaging solutions and services -- is focused on making technology and its benefits accessible to individuals and businesses through simple appliances, useful e-services and an Internet infrastructure that’s
always on.

HP has 86,000 employees worldwide and had total revenue from continuing operations of $42.4 billion in its 1999 fiscal year. Information about HP and its products can be found on the World Wide Web at http://www.hp.com.

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For further information, please contact: Issued by:
Mark Bowman Claudia Macdonald
General Manager Solutions Senior Consultant
Hewlett-Packard New Zealand Beyond Public Relations
Tel: +64 4 802 6819 Tel: +64 9 306 1804
Mob: 021 649 800 Mob: 025 932 418

Ingrid Mepham Andrea Wilson
Marketing Comms Manager ECSO PR Consultant
Hewlett-Packard Yippee Ltd
Tel: +64 4 382 6540 Mob: 025 281 3516

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