Gary, this might answer some of your questions.
Monday July 20, 6:59 am Eastern Time
Company Press Release
International Barter Corp. Launches New Internet Ubarter.com, E-Commerce Site Today
SEATTLE--(BUSINESS WIRE)--July 20, 1998--International Barter Corp. (IBC) (OTC:IBCX - news), today launches a new concept in Internet commerce, an on-line site for bartering products and services at www.ubarter.com.
Ubarter.com is the first on-line site to promote the concept of ''barter'' for the general Internet user and differs from existing auction and classified sites, which sell for cash only. Steven White, President and CEO of IBC stated, ''We are excited to launch Ubarter.com today. In early postings, we have users from as far away as Kuwait and India!'' Examples of a posting may be a consumer near retirement entering a boat to trade for a motorhome. Another is a business offering to trade surplus computers for nationwide travel.
Goods and services purchased on the Web are predicted to grow at a rate of 1,000% through the year 2001. Ubarter.com is designed to fill a niche in the electronic commerce marketplace that can attract worldwide participation. White noted, ''We are extremely pleased with the interest we have received from the Internet community and the press, both nationally and internationally, since we announced the development of Ubarter.com. The Financial News in London called regarding our site and an article will run in today's edition. Everyone across the globe has something to trade; Ubarter.com is the vehicle to bring individuals and companies together to maximize this potential.''
Accessing the Ubarter.com site, the opening Web page offers traders 10 main categories including electronics, vehicles, travel & vacations, home furnishings, and business items among others. Users are able to post items they would like to make available for barter or peruse posted listings, 24 hours a day, 365 days a year. As an incentive to try the new Ubarter.com site, all posting-matches will be free until August 31, 1998. After that date, once a match is made, users will pay a small fee of 1% to 3%, depending on the price, to complete their transactions. Qualifying charities or non-profit organizations will be able to post or trade items at half of the normal fee. Ubarter.com will incorporate several additional features designed for the convenience and security of their electronic traders. iEscrow, Inc., the leading Internet provider of escrow services for Web transactions, will be linked directly to the Ubarter site. Clients wishing to complete their transaction with the security of an escrow provider need only click on the iEscrow icon to access their service.
For any Ubarter.com traders of automobiles or trucks, Carfax Lemon Check Report will allow traders to quickly find out if a vehicle they may be interested in is a ''lemon'' or if it has been the subject of a manufacturer buyback. Carfax is the only comprehensive nationwide vehicle history service providing buyers and sellers of used vehicles with invaluable information about problems that may be hidden in a vehicle's past. White noted, ''We are pleased to offer these additional services to our on-line customers and are looking to add additional links that can provide the highest quality assurances to Ubarter's electronic commerce transactions.''
Internet Business Services in Anaheim, California, utilizing iCat electronic commerce software, designed and is hosting the site. iCat is the leader in the e-commerce catalog field.
About IBC:
IBC offers barter services to retail, professional, corporate and media companies. Clients are assigned a personal 'trade broker' via one of IBC's regional offices, who continually monitor buying and selling opportunities. Ubarter.com is the first pure play on-line barter site and is a wholly owned division of IBC. Additional information on IBC may be obtained via their Web site at: www.ibinc.com.
To order an investor package, please call: 1-800-292-7812.
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Contact:
International Barter Corporation, Seattle
Steven White, 206/870-9290
email: swhite@ibinc.com |
