EXHIBIT 99.3
FOR IMMEDIATE RELEASE
Stamps.com Media Contacts: Stamps.com Investor Contacts:
- -------------------------- -----------------------------
Seth Oster Ken McBride
Vice President, Corporate Communications Acting Chief Financial Officer
(310) 581-7542 (310) 581-7552
pr@stamps.com ir@stamps.com
Heather Meeker
Asst. Manager, Corporate Communications
(310) 581-7548
pr@stamps.com
STAMPS.COM APPOINTS INTERIM CEO
SANTA MONICA, Calif. - October 31, 2000 - Stamps.com(TM) (Nasdaq: STMP), the
leading provider of Internet mailing and shipping services, today announced that
it has selected Bruce Coleman as interim chief executive officer. The
announcement was made prior to the release of the company's third quarter 2000
financial results, scheduled for later today, October 31, at 5 p.m. EST.
"Bruce Coleman has a proven record at successfully leading companies through
transformations and putting them on the right path toward growth and
profitability," said Stamps.com Chairman Marvin Runyon. "With strong financial
resources and a growing customer base, Stamps.com is well-prepared to meet its
business objectives. We believe Bruce is the right leader to take us forward."
"My immediate goals are to help Stamps.com regain its focus and to put together
the right senior team for the future," said Coleman. "This company has enormous
potential to continue to lead the Internet postage market, grow its shipping
business, and take advantage of its sound financial standing to provide
shareholder value. We have a skilled executive team and a solid long-term
business model. I'm excited by this opportunity and the challenge of leveraging
the company's significant strengths in the marketplace."
Coleman has extensive experience running both publicly and privately held
companies. He was CEO of Boole & Babbage, Inc., Information Sciences, Inc. and
Walker Interactive Products. He has also taken on a number of interim CEO
assignments, including Computer Network Technology, Websense and Rogue Wave.
Coleman is currently a director of Websense, Printronix and Infantelligence. He
received his MBA from Harvard University and his bachelor's degree in economics
from Trinity College.
-more-
Interim CEO Appointed
Page 2-2-2
Coleman was appointed interim CEO by the Stamps.com Board of Directors following
the resignation of former CEO John Payne on October 12.
The company's earnings conference call today will be broadcast live at
www.stamps.com. For those unable to listen in at the designated time, an
- --------------
archived Webcast of the conference call will be available approximately one hour
following the live call and will remain on the site until December 1, 2000.
About Stamps.com
Stamps.com(TM) provides the easiest, smartest way to mail or ship letters,
packages or parcels anywhere, anytime. Stamps.com focuses on providing valuable
e-services allowing small businesses, large corporations and e-commerce
companies to control costs and efficiently manage their mailing, shipping and
returns operations. Its business is anchored in key relationships with the U.S.
Postal Service and United Parcel Service (UPS) and other carriers, including
FedEx, Airborne Express, DHL and Yellow Freight. Stamps.com's subsidiary,
EncrypTix, Inc., leverages its highly secure, patented technologies enabling
companies to provide value-bearing documents like tickets, coupons and
certificates over the Internet to consumers. Stamps.com International will
extend the company's reach into markets outside the U.S. Visit www.stamps.com
--------------
for more information.
###
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: This release may contain forward-looking statements that involve risks and
uncertainties. Important factors, which could cause actual results to differ
materially from those in the forward-looking statements, are detailed in filings
with the Securities and Exchange Commission made from time to time by
Stamps.com, including its annual report on Form 10-K/A for the fiscal year ended
December 31, 1999, its quarterly report on Form10-Q for the fiscal quarter ended
June 30, 2000, and its Current Reports on Form 8-K. Stamps.com undertakes no
obligation to release publicly any revisions to any forward-looking statements
to reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events.
Stamps.com, iShip, iReturn and the Stamps.com, iShip and iReturn logos are
trademarks of Stamps.com Inc. All other brands and names are property of their
respective owners.