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Non-Tech : USAB - USABancShares.com -- Ignore unavailable to you. Want to Upgrade?

To: im a survivor who wrote (1854)	8/18/1999 3:59:00 PM
From: im a survivor	Read Replies (1) \| Respond to of 2419

Company Changes On-Line Identification PHILADELPHIA--(BUSINESS WIRE)--Aug. 18, 1999--On Monday, USABanc.com, Inc. (NASDAQ - "USAB") launched the newest version of its online banking services, which incorporated checking, savings and bill paying functions previously available on a limited scale since July 15th through Electronic Data Systems (NYSE - "EDS"). In addition, the company added to its banking line a fully operational brokerage site, "USAForce". USAB had planned the launch of these services for several months, pursuant to its announcement of a third quarter rollout made in April. The April announcement also coincided with the Company's first offering of FDIC insured deposits online, through "CDMachine", at the USABanc.com, Inc. web site. Since that time, USAB has enlarged its national presence to correspond with plans focusing upon internet banking as its core strategic priority. U.S. Bancorp, Inc., a seventy seven billion dollar multi-state bank holding company, filed a lawsuit in the federal district court in Minnesota on August 11th alleging that the mark used by USABanc.com, Inc. infringes its trademark rights and is seeking to prevent USABanc.com, Inc. from providing online financial services under its corporate identity, pending determination of the lawsuit. Yesterday the court ordered a temporary order that requires USABanc.com, Inc. to cease using the "USABanc.com" identification until a full hearing is held later this month. The company intends to use USABancShares.com as it's permanent online identification. "In light of the temporary order which requires us to refrain from doing business as USABanc.com, we have reverted our online identification to USABancShares, to preserve access to our FDIC insured products, now available at www.USABancShares.com" stated Ken Tepper, President & CEO of USABanc.com. Inc. The name reflects both banking and brokerage functions. USABancShares has been a federal trademark owned by USABanc.com, Inc. since 1995 and has never been subject of challenge. While the USABancShares trademark was not challenged in the lawsuit, U.S. Bancorp may determine to continue to litigate its usage, and if U.S. Bancorp, Inc. were to prevail, then the company would be required to change its name again and could be liable for damages. USABanc.com, Inc. will continue defending any such action. Forward Looking Statements: Some of the statements contained in this press release discuss future expectations, contain preliminary unaudited results of operations and financial condition and state other "forward looking" information. Those statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from those contemplated by the statements. The forward-looking information is based on various factors and was derived using numerous assumptions. Important factors that may cause actual results to differ from projections include, for example: general economic conditions, including their impact on capital expenditures; business conditions in the financial services industry; the regulatory environment; rapidly changing technology and evolving banking industry standards; competitive factors, including increased competition with community, regional and national financial institutions; new services and products offered by competitors; and price pressures. CONTACT: USABanc.com, Philadelphia Maureen P. Steady, Esquire - Corporate Counsel 215/569-4200 KEYWORD: PENNSYLVANIA BW1376 AUG 18,1999 11:52 PACIFIC 14:52 EASTERN