BTLY.023News.COMTEX)B: Bentley to License Exclusive North American Rights to VirtualB
rter, the Barter Industry's Foremost Software
B: Bentley to License Exclusive North American Rights to VirtualBarter, the Bart
r Industry's Foremost Software
LOS ANGELES, Sep 22, 2003 (BUSINESS WIRE) -- Bentley Communications Corporation
(OTCBB:BTLY), an emerging force in the barter industry, has entered into an
agreement in principal with VirtualBarter to license the exclusive North
American rights to its comprehensive online barter exchange management system
and integration with its global trade marketplace.
VirtualBarter's software enables exchanges and their members to manage,
merchandise and market their products and services in an online barter
marketplace to an integrated worldwide network of trade exchanges. It has made
global online trading possible since January 2000. It was significantly enhanced
with the release of version 2.0 in July 2002. Version 3.0, the platform Bentley
will be using, will be released December 2003, just in time for members and
exchanges within the Crump Barter Network of 180 barter exchanges that serve
about 50,000 small to midsize businesses, to make the switch for the New Year.
Bentley acquired Crump Barter Systems, Inc., earlier this month.
Among the many special features VirtualBarter, which is produced by Independent
Broker Alliance, LLC, offers to exchanges and their members, is that each
exchange will be able to maintain their own distinct brand, with their own name
and logo on all screen views. Members who barter through an exchange will be
able to buy and sell 24/7 in a branded online ecommerce global trade
marketplace. Just one click will permit them to offer products and services to
other trade exchange members worldwide. One click will also enable them to find
products and services from trade exchange members locally or internationally.
Exchanges will be able to manage each of their members from one interactive data
screen for 24/7 access to their members and their trading information. The
software will provide exchanges with more than 20 real time management reports,
including a ready to print member directory. Transactions, trade and cash fees
and broker productivity will also be managed from one screen, as can cash,
collections and cash receipts.
VirtualBarter will give members of trade exchanges the ability to manage their
own accounts as they can post transactions, view real time online statements,
view detailed transaction history, search local and global member directories,
and manage their inventory offered for trade with a fully integrated item and
inventory control management system.
Marketing activities are enhanced with a full-featured contact manager that
includes call scheduling, call reminders and notes with complete reporting.
Email marketing will give an exchange and its brokers the ability to easily
create instant graphic content and to email it to one member, several members or
all of the members in their exchange. Segmentation will allow emails to be sent
to custom defined groups, such as all members that have purchased a particular
category of item during the year.
"We learned about VirtualBarter software and systems when we acquired Crump
Barter, as they were already using it," said Robert Schumacher, Bentley's
president and COO. "When we saw how comprehensive and easy the program is to
use, we decided to license it exclusively for North America and use it to enable
exchanges worldwide to participate in the Crump Barter Network. It offers
tremendous benefits to our member exchanges, their members who trade through
them, and will provide us with an extraordinary platform for our growth.
"Before selecting Virtual Barter, we compared it feature by feature with many of
the barter and trade software programs within the industry, including the
software that our own programmers have been developing," continued Mr.
Schumacher. "In our opinion, we feel that on any dimension, VirtualBarter is by
far the best for us and our member exchanges, and for those members who trade
through them. It is also the most scalable. We were already extremely impressed
with the current version, but the new version will put us, our exchanges and the
members who trade through them at the forefront of the industry."
About the Barter Industry
The International Reciprocal Trade Association estimates that in the U.S. alone,
over 470,000 companies actively participate in barter for a total of over $12
billion in annual sales. Over 65% of the corporations listed on the New York
Stock Exchange are presently using barter to reduce surplus inventory, bolster
sales and ensure that production facilities run at near capacity. The U.S.
Department of Commerce estimates that 20 to 25% of world trade is now barter,
and corporate barter is already a growing 20 billion dollar worldwide industry.
About Bentley Communications Corporation:
Bentley is positioning itself to be the domestic leader in the fast growing
trade and barter industry. Bentley has historically focused on the
implementation of alternative financial transactions and ecommerce services. In
barter it has an ideal opportunity to apply proprietary systems to enable barter
exchanges, and the companies that barter through them, access round the clock to
a user-friendly, online trade exchange -- tailored to their needs, with
real-time transaction credits to the merchant, whether it is credit, debit or
ATM card, barter dollars, cash or a blend that is processed online or offline.
Forward-Looking Statements:
With the exception of historical information, this news release and accompanying
information may include forward-looking statements that involve a number of
risks and uncertainties. Actual results could differ materially from those
anticipated as a result of various risks. There are numerous factors that could
contribute to such differences, therefore such projected events and anticipated
results are not warranties or guaranties that such events will occur or that the
Company will achieve such results. For more information about this corporation
and risks involved in the investment of their publicly traded shares, please see
the company's website(s), and/or documents filed with the SEC, which are easily
accessible in the EDGAR database system.
SOURCE: Bentley Communications Corporation
CONTACT: Bentley Companies
Gordon Lee, 310-445-2599
lee@bentleycommunications.com
www.bentleycommunications.com
or
VirtualBarter
Bruce Kamm, 646-825-8900 ext. 811
bkamm@virtualbarter.com
www.virtualbarter.com
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