2008-08-06 16:08:01 -

- PayPal today announced it has hired Scott Guilfoyle as the new senior vice president of platform services. In this role, Guilfoyle will be responsible for product development, IT operations, security and corporate architecture. Guilfoyle will begin in September.

Guilfoyle brings extensive technology and payments expertise to PayPal, having held key leadership positions at General Electric, Bank of America

and most recently, as the CIO of LendingTree. While at Bank of America, he oversaw an organization of 1,200 people, ran Bank of America's credit card business and helped build their online banking platform. He was also one of the primary executives responsible for driving GE's eBusiness initiative, which migrated all of GE's aircraft business processes online.

"PayPal has always thrived on the creativity and experience of our executives," said Scott Thompson, president of PayPal. "Scott's extensive background and understanding of technology make him the ideal leader to take PayPal's robust payment platform into its next phase of growth. We're all very excited to welcome Scott to the team."

About PayPal

PayPal is the safer, easier way to pay and get paid online. The service allows anyone to pay without sharing financial information and gives consumers the flexibility to pay in any way they prefer, including through credit cards, bank accounts or account balances. With more than 63 million active accounts in 190 markets and 19 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company (Nasdaq:EBAY). More information about the company can be found at www.paypal.com.

PayPal
Charlotte Hill, 408-967-5754
chhill@paypal.com