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Expects Savings of More Than Business/Technology Editors MARLBORO, Mass.--(BUSINESS WIRE)--Nov. 9, 2000 Envision Development Corporation announced today it has completed the sale of certain assets and liabilities of its professional service organization (PSO) to Robert R. Haskell II. Mr. Haskell was the former Vice-President of sales of Envision's PSO unit. Most of these assets and liabilities were contained within the Company's wholly owned subsidiary, Envision Development Corporation (Envision Mass). Terms of the transaction were undisclosed. The Company expects to record a loss on the sale of such assets of approximately $10.25 million. "As a result of the transaction, Envision experienced an impairment of its intangible assets related to the professional service organization of $10 million. The loss on the sale of assets and the impairment on our intangibles will be included in the results of operations for the three months ended October 27, 2000," said Envision Chief Executive Officer Michael E. Amideo. Mr. Amideo noted that Envision had acquired Envision Mass on May 17, 2000. Envision Mass delivered eBusiness solutions to companies forging transformational breakthroughs into the Internet economy. "As part of the restructuring and refinancing strategy we implemented this fall, we decided to de-emphasize our PSO business. The sale of most of our PSO assets will allow our Company to focus on our e-mail privacy software and private conferencing platforms." The Company does not currently expect to recognize revenues from its subsidiary investments until its first fiscal quarter, which ends April 28, 2001. Envision's revenues through its third fiscal quarter ended October 27, 2000 were generated entirely by its professional services. Consequently, the Company does not expect to recognize any operating revenues during its fourth fiscal quarter. "The disposition of certain assets, specifically our customer contracts and certain computer hardware, is expected to result in a reduction of Envision's overall burn rate by approximately $200,000 per month," said Envision Board Chairman, Dean M. Willard. Such risks and uncertainties are described in the Company's filings with the SEC including the Company's Annual Report on Form 10K and the Registration Statement on Form S-1.