CORRECTING and REPLACING PayPal Launches PayPal X Developer Challenge

Most Innovative Applications Will Win Prizes Worth a Total of $150,000
SAN FRANCISCO--(Business Wire)--
Fourth paragraph of release should read: Finalists will be determined by popular
vote on x.com and a panel of distinguished judges including chairman of eBay
Inc. Pierre Omidyar... (sted ...including eBay founder Pierre Omidyar...).

The corrected release reads:

PAYPAL LAUNCHES PAYPAL X DEVELOPER CHALLENGE

Most Innovative Applications Will Win Prizes Worth a Total of $150,000

INNOVATE 2009

PayPal today challenged developers to solve the fundamental problems people face
when trying to pay or get paid. With prizes totaling $75,000 in cash and $75,000
in waived fees, the PayPal X Developer Challenge offers anyone with an idea the
opportunity and seed capital to create a new business based on the PayPal open
payments platform, PayPal X.

Contestants must build their applications using the PayPal X application
programming interfaces (APIs). The challenge: create the most innovative payment
application for businesses in areas such as services, social media, gaming,
mobile and consumer electronics.

The first and second prizes are $50,000 and $25,000 in cash, respectively, and
$50,000 and $25,000 in waived PayPal transaction fees. To enter the PayPal X
Developer Challenge, log on to www.x.com, read the contest rules, and start
coding. The deadline for final submissions is Feb. 1, 2010. The winners will be
announced in March. Entries must include a link to a demo application and an
accompanying video describing how it would work.

Finalists will be determined by popular vote on x.com and a panel of
distinguished judges including chairman of eBay Inc. Pierre Omidyar; PayPal
president Scott Thompson; general partner of Andreessen/Horowitz, Marc
Andreessen; and Sequoia Capital`s Roelof Botha, who will choose the top two
prize winners.

"PayPal is putting developers in the driver`s seat to enable new and emerging
business models for their innovations," said Osama Bedier, PayPal`s vice
president of platform and emerging technology. "We`re challenging developers to
take PayPal X for a spin. And while the prize money is certainly an incentive,
the real reward will be making payments easy, for the very first time, for an
entirely new generation of applications built by our developer community."

Follow PayPal on Twitter: @PayPal, @PayPalX, #ppxi09 and #changehowwepay. For
more information on the PayPal platform, visit www.x.com.

About PayPal

PayPal is the faster, safer way to pay and get paid online. The service allows
members to send money without sharing financial information, with the
flexibility to pay using their account balances, bank accounts, credit cards or
promotional financing. With more than 78 million active accounts in 190 markets
and 24 currencies around the world, PayPal enables global ecommerce. PayPal is
an eBay company (Nasdaq:EBAY) and is made up of three leading online payment
services: the PayPal global payments platform, the Payflow Gateway, and Bill Me
Later. More information about the company can be found at
https://www.paypal.com.

PayPal
Anuj Nayar, 408-967-5730
anayar@paypal.com
or
Access Communications, for PayPal
Lindsay Scalisi, 415-844-6217
lscalisi@accesspr.com

Copyright Business Wire 2009