FOR IMMEDIATE RELEASE

Mangosoft Releases Mangomind Version 2.0

New file sharing service features improve offline access and workgroup communication and collaboration

Westborough, MA - July 23, 2001: Mangosoft, Inc. (OTC: BB: MGOF), a leading provider of Internet-enabling business software and services, announced today the release of Mangomind version 2.0, the latest edition of the company's business Internet file sharing and online storage product line.

Mangomind v2.0 makes offline file access more powerful, enhances secure business communication and collaboration, and increases ease of use. Key features of Mangomind v2.0 include:

• Advanced synchronization: controls a new "pinning" feature automatically updates user-designated files and folders and saves them in the local PC cache so the most recent versions are always available during offline use. Offline access to files provides increased productivity and convenience for remote workers who don't always have an Internet connection. This mechanism augments Mangomind's usage-based caching rules.
• Secure Messaging: a new Notice Board utility allows users to securely exchange messages with other users on a specific Mangomind Drive. Users are alerted when a new message has been posted and all messages are encrypted to ensure the highest level of security. The Notice Board also allows Mangosoft administrators to communicate important service alerts and software updates directly to all Drive users.
• Easier to use: additional features in Mangomind v2.0 are designed to simplify drive installation, administration, and operation.

"Mangomind is a unique business solution with a solid technology foundation from a company with a rich tradition of enterprise quality engineering," said Scott Davis, Vice President and Chief Technology Officer of Mangosoft. "Our Mangomind offering is a "best of breed" Internet file service and our ongoing development efforts address the usability and functionality requirements of an increasingly mobile workforce. This upgrade is about continuous improvements in ease of use for our customers."

Mangomind is designed for business users who frequently collaborate with remote colleagues, partners, and others outside the corporate firewall and who require remote file access. It is more secure, reliable, easy to use, and cost-effective than any other solution available today and is the only service with full simultaneous multi-user capabilities. Mangomind operates with the same look and feel of a familiar Windows drive, is easy to install, and does not require extensive end-user training.

Security for Mangomind products is provided by RSA Security (NasdaqNM: RSAS) and includes business level 128-bit encryption of transferred and stored files. Mangomind also includes Tier 1 enterprise hosting with automatic backup and restore functions as well 24 x 7 customer support and service.

Davis added, "From enabling new business applications and new platforms to creating wireless applications, we are excited about what the upcoming versions of Mangomind will bring. We are dedicated to providing the best technology available today so that Mangomind continues to meet the evolving needs of our corporate clients".

Mangomind is available in two configurations:

Mangomind Drive: is a secure, multi-user Internet file sharing and online storage service consisting of a 5-user drive with 50 megabytes of storage. The cost of the service is $14.95 per month.

Special introductory offer (extended): purchase before September 1, 2001 and get the first 3 months for just $7.95 per month.

Mangomind Enterprise: provides expanded storage and internal drive administration capabilities, and the flexibility of an unlimited number of seats. Mangomind Enterprise costs $14.95 per user per month and includes 10 megabytes of storage for each user with the option of purchasing additional storage.

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.