PayPal Launches Local Service in Spain
May 31, 2005

SAN JOSE, Calif.--May 31, 2005--PayPal, a leading online payment solution, today announced the launch of a new PayPal site in Spain, designed for Spanish users. The new site (https://www.paypal.es) is written in Spanish, offers information customized for Spanish PayPal account holders, and enables payments in Euros, the common currency in Spain.

PayPal.es is also integrated into eBay Spain, making buying and selling on eBay (Nasdaq:EBAY) even faster, safer and more convenient for Spanish users. Because PayPal has nearly 72 million accounts in 45 markets, PayPal.es makes it easier for Spaniards to buy and sell with millions of eBay and PayPal users around the world.

"The Spanish eBay community has been requesting a local PayPal site for some time now," said Mathias Entenmann, vice president of PayPal's international business. "Through the launch of PayPal Spain, we are delivering on this request and further enabling PayPal users in Spain to participate in global ecommerce."

PayPal Spain joins the growing list of international PayPal sites, including: The United Kingdom, Canada, France, Belgium, the Netherlands, Germany, Austria, Switzerland, Italy, Ireland and Australia. PayPal enables payments in six currencies: U.S. Dollars, Canadian Dollars, Pounds Sterling, Euros, Japanese Yen and Australian Dollars. The PayPal.es service is provided by PayPal (Europe) Limited. PayPal (Europe) Limited is regulated by the Financial Services Authority in the United Kingdom as an electronic money institution.

About PayPal

Founded in 1998, PayPal, an eBay company, enables any individual or business with an email address to send and receive payments online securely, easily and quickly. PayPal's service builds on the existing financial infrastructure of bank accounts and credit cards and uses one of the world's most advanced proprietary fraud prevention systems to create a safe, global, real-time payment solution. PayPal has nearly 72 million accounts and is available to users in 45 markets around the world. More information about the company can be found at https://www.paypal.com.

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