FOR IMMEDIATE RELEASE

Mangosoft Announces Management Additions To Expand Business Relationships And Drive Vertical Market Penetration

Company Focuses on Internet Enabling Business Applications

Westborough, MA - January 29, 2001: Mangosoft, Inc. (Nasdaq: BB: MGOF), developers of Internet-enabling business software and services, today announced new management additions that will strengthen the company's marketing efforts to advance business partnerships, form OEM relationships and penetrate vertical markets. The company is aggressively seeking alliances with Microsoft solution providers, eBusiness solution providers, hardware vendors and application service providers (ASPs) for its (R) Pro Web caching software and Mangomind Internet file sharing service.

To support this corporate focus, Mangosoft announced that Jeff Kruger has joined the company as an enterprise business strategist. Kruger is responsible for identifying potential business alliances and contributing to the company's long term vision.

Kruger comes to Mangosoft from Compaq Computer Corporation where he spent four years in program management and business development. While at Compaq, Kruger played an instrumental role in the growth and repositioning of a $300 million worldwide business unit. Kruger also held key management positions with NCR Corporation, a recognized world leader in data warehousing solutions. While at NCR, Kruger developed and implemented global service programs for networked and business critical systems.

"Jeff's broad range of experience in program management, marketing and business development, and his proven track record of success make him the perfect fit to lead our market expansion," said Dale Vincent, Chief Executive Officer of Mangosoft. "Jeff will play a vital role in identifying relationships and alliances with key industry players."

"I joined Mangosoft because the company has developed the types of business solutions that will drive the next generation of secure and efficient online collaboration amongst a workforce that is becoming more and more disparate in nature," said Kruger. "Mangosoft's unique products not only speed businesses' access to the Internet, but also help businesses to streamline communications in order to leverage the full power of the Internet and to gain a competitive advantage."

Mangosoft also announced the promotion of Jim Yearick to director of business development. Yearick, who was previously responsible for Mangosoft's Web caching software solutions, will lead the company's efforts in developing strategic partnerships and licensing agreements in Mangosoft's key vertical segments. Yearick will focus on the legal, financial and professional services markets where Mangosoft's Mangomind file sharing service can provide a powerful value-add by Internet-enabling existing business applications.

The company chose the legal, financial and professional services segments for its initial vertical market thrust because of their project-oriented work flow, demanding schedules and requirement to collaborate securely with colleagues who are geographically dispersed.

"Jim Yearick was instrumental in securing Mangosoft's OEM agreements with several vendors, including 3Com, for integration of Cachelink for small business solutions," said Vincent. "As director of business development, Jim will focus on building relationships with Microsoft application developers and other solution providers where Mangosoft can leverage its unique Internet-enabling software and services."

Mangomind, The Business Internet File Service, improves business collaboration among customers, partners and colleagues through better, faster Internet communications. The service is ideal for project teams who have external contributors, a demanding project cycle and require intense collaboration to successfully complete their projects. With Mangomind, team members can easily access the most recent project information and updates from contributors anywhere in the world. The Windows software is easy to use and requires no additional end user training. Business level security (128-bit encryption) eliminates the need for expensive, complex virtual private networks (VPNs).

Cachelink Web caching software improves Web access speed and saves network bandwidth. The desktop software can increase Web access up to 40 times faster with a T1 line, up to 60 times faster with DSL and up to 160 times faster with a 56k modem.

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.