FOR IMMEDIATE RELEASE

Mangosoft, Inc. Announces Mangomind V1.5

Latest Version of The Business Internet File Service Offers New Features and Microsoft Windows ME Compatibility to Meet the Demands of Mobile Workforce

Westborough, MA - February 8, 2001: Mangosoft, Inc. (Nasdaq: BB: MGOF), developers of Internet-enabling business software and services, today announced the availability of Mangomind v1.5, the first and only robust, multi-user Internet file sharing service designed for secure business-to-business communications. Mangomind v1.5 features several product enhancements including increased encryption functions, an improved client license user interface, automatic proxy handling and client compatibility with Microsoft (R) Millennium Edition (ME). Released in September 2000, the Windows ME operating system is gaining a strong foothold in the small to medium business market as more notebook PC's are preinstalled with the software.

Mangomind, which allows users to access, store and collaborate on files over the Internet, is a very useful tool for telecommuters and other mobile professionals who need access to files anywhere, at any time. According to GartnerGroup, more than 137 million U.S. residents will be telecommuting by 2003. Further, the International Telework Association & Council estimates that one in five corporate employees will work at home at least one day per week within the next year.

"As workers continue to migrate outside the traditional corporate enterprise, organizations need a secure, easy way to collaborate with mobile workers and business partners outside the network," said Linda Myers-Tierney, Mangosoft senior vice president and chief marketing officer. "Mangomind provides these capabilities without the expense of setting up virtual private networks (VPN's) and without the versioning problems inherent in collaboration through email."

"Today's workforce is less centralized, with more employees spending time in locations other than the central corporate office," said Michael Hoch, senior analyst with Aberdeen Group. "Consequently, businesses are looking for secure ways to increase productivity, through collaborative project work and file sharing. Mangosoft's Mangomind technology helps firms improve communications and manage workflow by enabling users to easily share documents and safely store files over the Internet."

The Mangomind service combines the benefits of the Internet with the familiarity of Microsoft (R) to deliver a secure method for multiple users to access, share and store files. Unlike other solutions that provide single-user Internet file storage, Mangomind enables multiple users from any location to access and share files - a critically important benefit to businesses given the proliferation of mobile computing, partnering, outsourcing and collaborative commerce.

About Mangomind

Mangomind, The Business Internet File Servicesm, improves business collaboration between 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 the project. 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 while business level security (128-bit encryption) eliminates the need for expensive, complex virtual private networks (VPN).

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.