FOR IMMEDIATE RELEASE

Mangosoft Launches Mangomind® Enterprise Server Software

Allows rapid deployment of secure, file-based extranet for workgroup and enterprise-to-enterprise collaboration without requiring a Virtual Private Network (VPN)

Westborough, MA - May 16, 2002: Mangosoft Inc. (OTC: BB: MGOF), a developer of Internet enabling business software products and services, announced today the introduction of its Mangomind Enterprise Server software that allows rapid deployment of a secure, file-based extranet for workgroup and enterprise-to-enterprise file sharing and online collaboration. The Mangomind Enterprise Server extends Mangosoft's Mangomind Business Internet File Service^SM suite of hosted services to medium- to large-sized organizations that require data to be stored behind the corporate firewall. General availability for the software is scheduled for May 31, 2002.

The Mangomind Enterprise Server creates a secure, shared Internet workspace where geographically dispersed workgroups can access information, from anywhere at anytime, and collaborate privately with remote team members. The shared Internet workspace is easy to initiate and enables secure, inter-company and external collaboration without a VPN. The Mangomind Enterprise Server integrates easily into existing networks and data centers and is scaleable for organizations of any size.

"Enterprise IT managers today are challenged to enable productive, collaborative processes for mobile employees, cross-enterprise workgroups, and inter-enterprise business relationships," said Scott Davis, Mangosoft's Chief Technology Officer. "While VPNs provide an adequate means for remote network access within an enterprise, they fall short as collaboration tools for geographically dispersed workgroups, especially where multiple companies are involved - the management costs and attendant delays can be exorbitant. Mangomind transparently extends the LAN collaboration of Windows business applications to the Internet in a secure, easy-to-use, easy-to-initiate manner that is intuitive and familiar to end users."

The Mangomind Enterprise Server was chosen by a Fortune 100 insurance company as a secure collaboration tool between its nationwide brokerage houses and third party vendors.

Features of the Mangomind Enterprise Server include:

• Remote file access: access to business critical files from any Internet connected PC
• Workgroup collaboration: multi-user file sharing of any Windows application, including online collaboration of database applications
• File synchronization: offline access to files and automated synchronization upon reconnect to the Internet
• File security: end-to-end data encryption, using RSA's BSAFE (R) 128-bit encryption, private/public key user authentication, and file/folder access permissions
• Secure communication: private Notice Board for workgroup communication
• Integration with Windows: operates like a shared network drive; Windows applications run seamlessly over Mangomind in their native format
• Storage interoperability: integrates easily with standard storage area networks
• Server management: the Mangomind Server Management tool integrates into the existing Windows 2000 management framework
• High availability: Mangomind supports Microsoft Windows 2000 fault-tolerant clustered services configuration

About Mangomind Enterprise Server Software Pricing

Mangomind Enterprise Server software license pricing starts at $40,000 and includes 100 end user licenses. Additional end user licenses range from $100 to $150 per user, depending upon the quantity of licenses. Installation, training, support, and annual maintenance are priced separately.

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.