Moen Technologies, GPC Client, Settles Patent Suit with PepsiCo

SUFFERN, NY, May 20, 2004 - General Patent Corporation (GPC), a leading contingency IP licensing and enforcement firm headquartered in Suffern, New York, announced today that its client, Moen Technologies LLC (Moen), has settled its patent infringement lawsuit against PepsiCo, Inc. (NYSE: PEP). GPC represents Moen in the licensing and enforcement of its patent portfolio.

GPC brought suit against PepsiCo on behalf of Moen Technologies on December 24, 2003, in the U.S. District Court for the Southern District of New York alleging an infringement of one of its patents. PepsiCo ultimately agreed to take a license under the patent-in-suit and two other related patents.

The technology covered by the licensed patents, co- invented by Dr. Arthur "Skip" Moen and Dr. Alexander Poltorak, pertains to certain aspects of debit platform telecommunications and PIN-based Internet promotions.

Earlier, Coca Cola also took a license under the Moen patents as a result of settling a patent infringement lawsuit.

"We are delighted to have reached an amicable resolution of the lawsuit with PepsiCo," said Alexander Poltorak, GPC's Chairman and a co-inventor of the patent-in-suit. "We welcome PepsiCo as a licensee of Moen Technologies, and hope that the rest of the industry will respect our intellectual property without the need for litigation."

About Moen Technologies

Moen Technologies LLC, is a portfolio company of IP Holdings LLC, an idea incubator affiliated with GPC. Moen Technologies is the owner of United States Patent Nos. 5,438,615, "Method of Providing Message Service for Pinless Limited Access Telecommunications;" 5,592,537, "Method of Providing Message Service for Limited Access Telecommunications;" and 5,864,604, "Method of Providing Message Service for Limited Access Telecommunications." Moen Technologies offers non- exclusive licenses under these patents on attractive terms. For licensing terms, contact Kathlene Ingham, GPC's Director of Licensing, at (845) 368-4000 ext. 107. For more information about Moen Technologies visit www.moentech.com.