FOR IMMEDIATE RELEASE

Mangosoft, Inc. Announces Closing of Acquisition

Westborough, MA - September 8, 1999: MangoSoft Inc. (OTC BB: MGOF) a Nevada corporation, approved for trading on the NASD Electronic Bulletin Board Wednesday announced that it has completed the acquisition of MangoSoft Corporation ("Mango"), a Delaware corporation.

As part of the acquisition, the company changed its name from First American Clock Co. to MangoSoft, Inc., appointed a new board of directors and changed its offices to Westborough. The company also effectuated a 1.734 to 1 forward stock split which is effective with the commencement of business on Wednesday, Sept. 8, 1999. The company now has 19,875,007 shares of Common Stock outstanding.

MangoSoft Corp. has leveraged an innovative and patented technology know as Pooling to develop a suite of software solutions to address the needs of small businesses, workgroups and large enterprises.

MangoSoft's products include Medley99, a virtual file server that enables small businesses to share files without investing in expensive client/server hardware, and Cachelink, a virtual web caching product that significantly increases the delivery speed of Internet and intranet content to end-users.

MangoSoft's patented Pooling and caching technologies provides next-generation solutions for improving the utility and effectiveness of networked computer systems, encompassing the Internet, intranets and local area network ("LANs").

MangoSoft's suite of products seamlessly aggregates the capabilities of multiple computer systems to facilitate the flow and sharing of information.

About Mangosoft, Inc.

Mangosoft, Inc. (OTC: BB: MGOF) creates software and services that make the Internet a better place for business. Through its Mangomind® Internet File Server for Business, Mangosoft allows its customers to connect easily and securely with remote colleagues, clients, and partners around the world, enabling them to make smarter and faster business decisions. Encryption technology is provided by RSA Security (NASDAQ: RSAS). FileTRUST^SM, acquired from FleetFinancial, provides secure, online file storage services. Mangosoft's Cachelink® Web caching software maximizes a company's existing resources, making the Internet work faster and more efficiently. Mangosoft sells its products directly to customers as well as through a network of value-added resellers and systems integrators. The Mangosoft Web site is http://www.mangosoft.com.

The matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based on a number of factors, including, but not limited to, risks in product and technology development, market acceptance of new products, product demand, the impact of competitive products and pricing, changing economic conditions and other risk factors detailed in Mangosoft's most recent annual report and other filings with the Securities and Exchange Commission. Prices for Mangosoft products and services are subject to change - check the pricing page on Mangosoft's web site for current pricing.

fileTRUST and The Business Internet File Service are servicemarks, Mangomind and Cachelink are registered trademarks, and Mangosoft is a trademark of Mangosoft, Inc.