RED HERRING MAGAZINE SELECTS XPEDITE'S MESSAGEREACH E-MAIL SERVICE TO DELIVER AND PROCESS ONLINE INVOICES AND RENEWALS
Leading Business Publication Increases Response Rates with Multimedia Messaging Capabilities

TINTON FALLS, N.J. (June 27, 2002) - Xpedite (www.xpedite.com), a company that helps businesses manage information distribution to and from their customers through multimedia messaging solutions, including fax, e-mail, voice and wireless services, and a business unit of Ptek Holdings, Inc. (NASDAQ: PTEK), today announced that Red Herring magazine selected its messageREACH^SM e-mail service. Red Herring, a leading business publication covering the intersection of technological innovation, entrepreneurialism and the financial markets, is using messageREACH to distribute and process subscriber invoices and subscription renewals to thousands of recipients each month.

Xpedite delivers HTML-based invoices to Red Herring subscribers that are pre-populated with the recipient's information, such as name and address. The recipient fills out the payment portion of the invoice and simply "clicks" to submit the form electronically via messageREACH, which collects all of the response data. Because messageREACH is capable of handling large volumes of outbound and inbound e-mail to a diverse subscriber base with speed and reliability, the process is accomplished faster, and with greater success, than with traditional direct mail campaigns.

"messageREACH enables us to create graphic-rich, attention-grabbing HTML messages that generate higher response rates on subscriber invoices and renewals," said Mike Hill, Retention/Fulfillment Manager at Red Herring. "Xpedite made the transition to using messageREACH smooth, providing first-rate customer service and a strong knowledge of list management and e-mail distribution. The end result is a more successful, efficient online invoice and renewal process for our magazine, which helps our bottom line."

"As an experienced solutions provider for the publishing industry, Xpedite knows that managing and growing the subscriber base is a key component to the success of any publication," said Rob Mainor, President of Xpedite. "The interactive capabilities of our messageREACH services offer magazines like Red Herring a high-impact, cost-effective way to manage critical information to and from their subscribers, making it easy for recipients to respond. The improved response rates for Red Herring prove that messageREACH is a valuable marketing tool."

About Red Herring Communications, Inc.
Red Herring Communications, Inc. is an integrated network of media properties connecting the people, companies and industries whose ideas and technological innovations are inspiring and reshaping the world of business. Founded in 1993, Red Herring magazine, the company's flagship platform, provides in-depth analysis and reporting on the business of technology, innovation and entrepreneurialism. The publication was recently named one of the ten hottest media for technology advertisers by Adweek Magazines' Technology Marketing for the second consecutive year. Red Herring Online (www.redherring.com) complements the printed publication with timely reporting on the innovations that are powering future business trends. Red Herring Executive Conferences bring the magazine to life with insight and analysis by Red Herring editors and top thinkers from leading companies. A privately held company, Red Herring Communications, Inc. is headquartered in San Francisco and has offices in Chicago, London, Los Angeles and New York.

For a detailed discussion of these and other cautionary statements and factors that could cause actual results to differ from the Company's forward-looking statements, please refer to the Company's filings with the Securities and Exchange Commission, especially in the "Factors Affecting Future Performance" included in the Management's Discussion and Analysis section of the Company's Form 10-K for the fiscal year ended December 31, 2001 and in subsequent filings filed with the Securities and Exchange Commission.