SoftLock.com Inc Information

SoftLock expects to sell its patent portfolio by November 30, 2001. In order to satisfy SoftLock's obligations to creditors and shareholders, it is expected that no offer less than Two Million Dollars will be considered. Although SoftLock expects to sell the patent portfolio for a lump sum, it is willing to consider reasonable proposals to condition installments of the purchase price on the achievement of agreed milestones with respect to the prosecution of the pending patent applications in the portfolio. During the inquiry period, SoftLock will answer questions concerning its patent portfolio, technology, business and its perceptions and opinions concerning the evolution of DRM standards and software. SoftLock will make available to interested persons, a confidential CD-ROM, which contains, among other things, a form of Assignment Agreement that SoftLock is prepared to enter into. All offers to acquire the portfolio should be submitted in writing by November 30, 2001, although the portfolio may be sold before that date. If two or more offers are received that are close to each other, or are based on different conditional payments or criteria, SoftLock reserves the right (in its sole judgment) to advise the three top bidders of the amounts and terms of the respective bids (without identifying, in any way, the parties that made the bids) and offer those three parties the opportunity to submit a second and final round of bids, to be received on or before January 31, 2002.