FOR IMMEDIATE RELEASE

Mangosoft Signs Fortune 100 Insurance Company For Mangomind Enterprise Internet File Sharing Service

First enterprise customer purchases annual license for 500 users

Westborough, MA - September 19, 2001: Mangosoft Inc. (OTC: BB: MGOF), a developer of Internet enabling software solutions, announced today that a leading international insurance company purchased an enterprise license for its Mangomind Enterprise Internet File Sharing Service. The annually renewable contract calls for an initial deployment of 500 users of the Mangomind Enterprise hosted service, which will provide a mechanism for the company's employees to securely share files with others both internally and external to the corporate network.

"This enterprise contract represents a turning point for Mangosoft as we steadily move past the development stage of our products to commercial sales, said Dale Vincent, president of Mangosoft. "The sale also validates our enterprise strategy whereby Mangomind can be deployed in large corporations as either a hosted service or a licensed software solution. We are extremely pleased that Mangomind has met the stringent quality, availability and security requirements demanded by a Fortune 100 company."

The Mangomind Enterprise Internet File Sharing Service is designed for large corporations with an increasingly mobile work force who need to access files and collaborate with remote colleagues, partners, and others outside the corporate firewall. Mangomind provides remote access to files, secure multi-user file sharing, online file storage, secure messaging, and offline access to files. The service operates with the same look and feel as a familiar Windows drive, is easy to install, and does not require extensive end-user training. Mangomind provides end-to-end security with 128-bit encryption of transferred and stored files, user authentication, and file access controls. All data is managed and stored in a secure, Tier 1 hosting facility with full back-up and restore capability.

Mangomind Enterprise hosted service is priced at $24.95 per user per month, and includes 10 megabytes of managed Internet storage per user and Mangomind Drive administration capabilities. Mangomind Enterprise is also available as a licensed software product that can be custom configured for operation behind the corporate firewall.

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.