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Toccata Announces Release Of Real-Time Currency Conversion
Software For E-Commerce

Free Server-based Program Lets Web Users See Prices In
Their Own Currency, Rather Than Currency Of Vendor

Toccata, Inc., a Washington, D.C. based E-commerce company, announced today it is offering a free filter to E-commerce vendors that provides customers from around the world the ability to see prices in their own currency, rather than in the currency of the vendor.

This revolutionary new currency conversion software will greatly enhance efforts by E-commerce vendors to market goods to the global internet marketplace.  This free filter can be down-loaded at the Toccata Web site by the vendor’s webmaster.  It requires less than 30 minutes to load and test.

The first release is for Microsoft based-servers, with further releases for Netscape and Unix-based browsers to follow shortly.  When a potential customer signs onto any Toccata-enabled E-commerce web site they are asked if they would like to use this currency conversion tool.  Once registered the customer will automatically see all published prices converted to their preferred currency from all Toccata-enabled E-commerce web sites.

Chris Williams, CEO of Toccata, states, "Research of vendors indicates a high level of interest and acceptance. The ability to see real-time prices for goods in any currency creates a vast new market for E-commerce vendors." Jim Cates, VP of International Sales, adds, "The service is free to both buyer and seller and increases marketing awareness.  Vendors can use the web as a new sales vehicle to open markets in all parts of the world in their local currencies, but without any currency exposure. It’s the best deal on the internet."

Toccata's fully transactional service will be available in September and will alleviate virtually all risk for the buyer and seller. The Toccata transaction service will provide a comprehensive order facilitation service which collects funds from international customers and pays to the account of international E-commerce vendors - each payment in their own currency. Toccata will also guarantee the real-time price for both sides of the transaction based on currency rates at the exact time of the transaction - something that is currently unavailable from credit card companies.  Toccata will link to databases of shippers, duty and VAT information providers. The customer sees the total price, while the vendor has no additional work- other than packing and shipping from the factory gate.

Using Toccata's transactional service, E-commerce vendors receive their funds in a cost-effective manner and are able to market goods to customers previously unreachable.  CEO Williams says, "The Toccata system will allow international customers to know the complete cost of the the purchase immediately, so they won't be surprised when they receive their credit card bill 30 days after the sale."  Vendors can access new markets around the world with full security on payments without currency risk for themselves or their customers. Toccata will insure complete backing for all international transactions at a merchant fee that is less than is currently being charged by credit card banks.

Toccata fully protects against cardholder fraud at a lower rate to the vendor than is currently being paid to credit card companies, which eliminates the biggest danger for E-commerce vendors.  The number of web servers has risen from 500,000 in May, 1997 to 2,300,000 in May, 1998, primarily based upon new E-commerce vendors.  The E-commerce market is projected to grow from $8 billion in 1998 to over $300 billion within two years. According to Forrester research USA on-line retail sales reached $2.4 billion in 1997 and are expected to grow to $17.4 billion by 2001.

Toccata is a privately held corporation and is leading the way for global trade through its currency conversion, government funding and international trade facilitation program.  Toccata is based in Washington, D.C. with offices in England and Dubai

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