Y-Pay.net Press Release (owned by CBQ Inc.)
y-pay.net
February 16, 1999
IN PREPARATION FOR THE LAUNCH OF ITS FREE INTERNET SERVICE, NET ACCESS EXCHANGE BEGINS DEVELOPMENT OF WEB SITE
Dallas, Texas, February 16, 1999 -- CBQ, Inc., (OTC:BB CBQI) today announced that its wholly-owned subsidiary, CyberQuest, Inc. ("CBQ") has begun development of a Web site for Net Access Exchange, Inc., a subsidiary company in which CBQ, as part of its E-commerce initiative, recently acquired an ownership interest.
Net Access Exchange, under the Y-PAY? brand, plans to offer free Internet service and e-mail to users in the US. Based upon the model for commercial radio and TV, Net Access Exchange provides free Internet access in exchange for the subscribers viewing advertisements. Anticipating strong consumer demand for the service from its planned nationwide launch in July and in response to growing interest in "free Internet", Net Access has opened its Web site for pre-registration at www.y-pay.net.
Commenting on the service, Mr. Michael L. Sheriff, founder and president of Net Access stated, "With millions of Internet users in the United States paying, in some cases, hundreds of dollars per year, we believe there will be a strong demand for free Internet service. If radio and TV are free and you see ads, then why pay for Internet access and see ads? Further, recent announcements regarding free Internet access have given our model additional credibility."
Working with Ericsson Network Intelligence™ in a strategic relationship, Net Access Exchange will utilize Ericsson's "Internet Advertiser" application. Ericsson's "Internet Advertiser" effectively distributes targeted messages and advertising to the Internet user based on the user's profile, location, time of Internet use and interests. Utilizing a unique fraud control capability, it will allow Net Access to guarantee to advertisers that the advertisements are being viewed rather than bypassed by the Internet users.
"The buzz word in advertising today is "targeted marketing", which means getting targeted advertisements to the appropriate audience at the most suitable time," said Michael L. Sheriff. "But unlike radio and television, our sophisticated software can provide significantly more demographic information to advertisers than has ever been available before. The Net Access system is an advertiser's dream."
"By incorporating fraud control and data reporting components, Internet Advertiser will enable Net Access Exchange to provide extremely targeted advertisement capabilities that are unlike any advertising in the marketplace today," said Ulf Lesley, director of global marketing, Ericsson Network Intelligence.
Net Access Exchange plans to "serve" rich-media, interactive advertising and other services to its subscribers. However, ads do not affect load-time since they load in the background while the users' current Web pages are viewed. Ads display instantly between page views, and minimize when they detect new users' pages. Ads are full page with rich media content - like TV, and are not Web site or Web network dependent. Unlike recent announcements from other companies, users do not give up valuable screen real estate in fixed non-closeable windows.
Proctor and Gamble (P&G) recently commissioned a study to gauge consumers' reaction to 80 different kinds of Internet ads. P&G found that larger, more complicated ads conveying more information to be more engaging and memorable. Recall was as high as 63% greater than standard banner ads, and consumers got the main message 33% of the time versus only 16% for banners. According to Emarketer, a market researcher, US ad spending on the Internet will grow from $1.5 billion in 1998 to $8 billion by 2002, which is less than 4% of the $215 billion US companies will spend in advertising.
"Studies such as the Proctor and Gamble study demonstrate that full-page, rich media ads deliver for the advertiser and are readily accepted by consumers. Net Access offers an advertising model that can efficiently and effectively increase sales and/or brand awareness," said Sheriff. "Further, while Internet advertising is expected to grow exponentially over the next three years, it will still only represent a small fraction of total advertising dollars."
Ericsson Network Intelligence, the world's leading supplier of intelligent network systems, launched Internet Advertiser, an intelligent network application that distributes targeted advertising to Internet users, in October 1998. Internet Advertiser is the first of Ericsson Network Intelligence's new TeleInternet products, geared towards helping major carriers and new operators exploit the capabilities of the Internet by linking telecom and Internet services.
CyberQuest Inc., developer of www.bid4it.com, is an E-commerce innovator. Using proprietary software, CyberQuest has created a virtual, Internet-based marketplace based on the principles of securities trading. Unlike web auction sites, such as eBay, Inc. (NASDAQ: EBAY), Onsale, Inc. (NASDAQ: ONSL), or Ubid (NASDAQ: UBID), "bid4it" is a completely automated electronic marketplace responding to supply and demand producing a "true" market price for products based on the open market interaction between Bidders and Sellers. Bidders interactively bid on desired products and may modify or delete their "bids" at any time before it matches the Seller's "ask" (asking price). The Seller may accept any "bid" at any time and may modify or delete their "ask" at any time before it matches a "bid". "Bid4it" allows sellers to compete in a worldwide market for the buyers of all types of products.
Like the NASDAQ and NYSE stock exchanges, the Company's patent-pending CyberMarketMaker™ integrates the best features of securities trading and an auction market. Bidding activity is continually analyzed and asking prices moved up or down in response to market activity. When a "bid" and "ask" match, the transaction is electronically completed, and the product is ordered and shipped to the buyer with instant notification to all parties. For more information about CyberQuest visit www.bid4it.com (bid4it WebSite) and www.cbq.com (Corporate WebSite).
bid4it and CyberMarketMaker are trademarks of CyberQuest, Inc. CyberQuest sub-licenses the bid4it software and related technologies to interested parties. NOTE: All other trademarks are the property of their respective owners.
This press release includes forward-looking statements related to CBQ, Inc. that involve risks and uncertainties, including, but not limited to, quarterly fluctuations in results, the management of growth, market acceptance of certain products and other risks. These forward-looking statements are made in reliance on the ''safe-harbor'' provisions of the Private Securities Litigation Reform Act of 1995. For further information about these factors that could affect CBQ's future results, please see the Company's filings with the Security and Exchange Commission (the "Commission"). Prospective investors are cautioned that forward-looking statements are not guarantees of future performance. Actual results may differ materially from management expectations.
CONTACTS: At the Company: Investor Relations:
Michael Sheriff, President Michael Manahan
CBQ, Inc. Magnum Financial Group
972.732-1100 213.488-0443
sheriff@cbq.com
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