Business Wire
(Copyright (c) 2001, Business Wire)
SAN FRANCISCO--(BUSINESS WIRE)--Feb. 20, 2000

Driveway Corporation, a leading provider of online file management solutions, announced today that the Company has repositioned itself as a technology platform provider. This move will sharpen the Company's focus on strengths which have been at the heart of its success -- developing and supporting their enhanced storage application for service providers, telcos and extranet applications. Operations for the Company which support the Private Label Storage (PLS) service and Driveway's free consumer storage service will be phased out. The resulting restructuring included lay-offs of employees associated with the former business model.

This new organization has two charters:

-- To continue to evolve the Driveway Storage Platform (TM) and expand thescope of storage-related internet applications.

-- To develop a suite of tools to empower enterprise-level informationmanagement for service providers and infrastructure partners.

About Driveway

Headquartered in San Francisco, Driveway Corporation is a leading provider of internet-based storage infrastructure software for service provides and enterprise customers. Driveway is a privately held company whose investors include Generation Partners, Chase Capital Partners, RS Investment Management, Sandler Capital Management and Vantage Point Venture Partners. For additional information, please visit Driveway at http://www.driveway.com.