Industry Veteran to Bring Strategic Experience to Groundbreaking SaaS Electronic Payments Solution Company

DENVER, CO – June 9, 2008 – PaySimple, the leading provider of on-demand electronic payment solutions for small businesses, is pleased to announce Alfred ‘Chip’ Kahn IV has joined the company’s advisory board. Kahn, the founder and CEO of IP Commerce, the world’s first open commerce network, also serves on the advisory board for BroadHop, Inc., a broadband services software company.

Kahn is a seasoned entrepreneur who has established and developed several successful technology and technology-related companies, including enterprise venture group Inventure Partners, Application Media, and STS Hotel Net. While at STS Hotel Net, Kahn led the company through a merger with CAIS Internet (NASDAQ: CAIS) to form Medias Group, Inc., creating the then-largest vertically oriented broadband media platform in the world. Most recently, he founded and served as CEO of Amigo Systems, a next-generation payment processor for vertical enterprise markets.

“Chip brings invaluable experience and a broad industry network to PaySimple,” said Eric Remer, chief executive officer of PaySimple.“His contribution to startups is renowned and we look forward to benefiting from his leadership, expertise, and vast knowledge of the payments market.”

Recognized as one of Colorado’s up-and-coming business leaders in 2002 with the “40 under 40” Award, and more recently as semi-finalist for Ernst & Young’s Entrepreneur of the Year award, Kahn has an impressive track record of identifying business opportunities and developing innovative strategies to address market needs. He holds a bachelor’s degree in Business Administration from Colorado State University.