Friday July 30, 10:42 am Eastern Time
Company Press Release
MBT International Launches
LifeatHome.com
Online Mall Features E-commerce Solutions for Home Improvement and Real Estate Markets
CASTLE ROCK, Colo.--(BUSINESS WIRE)--July 30, 1999-- MBT International Inc. (OTC BB:MBTI - news), parent company of premier vertical web portal AgriMall.com (www.agrimall.com),
today announced the launch of its newest portal, LifeatHome.com (www.lifeathome.com), an E-commerce site targeted at the estimated trillion-dollar home improvement and real estate markets.
Using the same target-specific business model utilized in its AgriMall.com site, MBTI believes it will be able to capture the early lead in this expanding market. The LifeatHome.com site uses a blend of Internet and multimedia technology which management believes is unique to the vertical portal segment of the World Wide Web.
A proprietary function called the LifeatHome Proximity Location System (LPLS) will allow consumers and businesses to browse throughout their own area directory and purchase goods and services online, conducting E-commerce with local merchants with whom they are comfortable. According to Jason McKinnon, Project Manager and developer of the site, ``This localized business-to-consumer and business-to-business function addresses a major challenge to Internet E-commerce. With our LPLS, local merchants can now conduct E-commerce activities within their own specific trade area.'
LifeatHome.com will generate revenue from percentages earned on all E-commerce and auction transactions, retail merchant sign-on fees, listing fees, real estate success fees, advertising and web development/hosting fees. This model is similar to that used by AgriMall.com.
Commenting on the announcement, Andy McKinnon, Chairman and CEO of MBTI, stated, ``We are extremely pleased with the exceptional look and feel of the LifeatHome.com site. The business plan and marketing strategy are the culmination of over two years' research and development by Jason and his very talented team. We believe that LifeatHome.com can become a leading site where consumers shop for everything for their home or actually shop for a home online either locally or globally. The Company will aggressively pursue value-added, existing web sites to roll into the LifeatHome.com site.'
McKinnon added, ``We anticipate that LifeatHome.com will begin generating revenue this quarter. Further, MBTI is currently negotiating a number of strategic relationships in the home improvement and real estate industries which should position the LifeatHome.com site for substantial future
growth.'
MBTI has over 400,000 users and is the parent company of AgriMall.com (www.agrimall.com), Horsenet.com www.horsenet.com), Bookstable.com (www.bookstable.com), EquestrianMall.com (www.equestrianmall.com), HorseChat.com (www.horsechat.com), EquiSeek.com (www.equiseek.com), EquiAuction.com (www.equiauction.com) and LifeatHome.com
(www.lifeathome.com). MBTI's strategy is to acquire content-rich, value-added, sophisticated, yet
navigable, websites, and to become a leader in the $300 billion agricultural industry. MBTI
continually evaluates highly focused acquisitions that will further increase both the traffic and volume
of E-commerce at its AgriMall.com site.
For additional information on MBTI, please visit the Company's web site at www.mbtinet.com.
Certain statements in this release are forward looking. Although MBTI believes its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from its expectations. For factors that may cause actual results to differ materially from expectations and underlying
assumptions, see reports by MBTI filed with the Securities and Exchange Commission.
Contact:
MBT International Inc., Castle Rock, Colo.
Andy McKinnon, CEO, 303/688-0244
amckinnon@mailcity.com
or
Investor Relations:
Phoenix Alliance, Inc., Durango, Colo.
Phil Huss, 970/259-7241
phoenixalliance@frontier.net
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