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April 19, 1999 08:04
MBT International Announces Record Sales From Internet Properties
Boosts Advertising And Marketing Revenues
CASTLE ROCK, Colo.--(BUSINESS WIRE)--April 19, 1999--
MBT International Inc. (OTC:MBTI) the leading provider of agricultural products and services over the Internet, today announced preliminary results for the first quarter ended March 31, 1999. Additionally, the
Company has begun a significant advertising and marketing initiative designed to further increase traffic to its vertical portal AgriMall and its properties, which is already recognized as one of the highest traffic agricultural sites on the world wide web and the only E Mall positioned to market to the $300 billion agriculture industry.
MBTI's AgriMall web site achieved 160 web hosting contracts, ranging from $500 to $30,000 in development fees, plus residual fees of $79.95 to $500 per month per contract. AgriMall also signed seven marketing agency brokerage agreements valued individually at $12,500 to $33,000, each with monthly residuals of $500 per month, plus 2% - 5% of gross revenue. The AgriMall Auction services for horses and agricultural products was recently launched with $15 million worth of inventory, of which MBTI collects 2% -7 1/2% of gross revenues as the inventory is sold.
Andy McKinnon, CEO of MBTI, stated, "This has been an incredible first quarter for our Internet properties. In addition to our success with AgriMall, banner advertising sales revenues on our HorseNet.com portal
have skyrocketed, which further enhances our advertising revenue opportunities for all our properties. Thirty one new advertisers have been added, paying a monthly fee from $75 to $1000, 7,500 classified ads have also been added and 9,000 new HorseNet members have joined the site."
"The BookStable.com web site has had record sales since we acquired it 45 days ago and we have just completed two sales of our very strategic customer mailing list. BookStable is presently negotiating to
increase its on-line inventory by 6,000 titles, which will dramatically increase revenues. Twenty new magazine titles have already been added and there have been over 1,000 catalog requests."
"In addition, the Alpha Test I on our new streaming video application conducted by SGI was very successful and a new agreement with SGI (NYSE:SGI) to develop Alpha Test II has been reached,"
concluded Mr. McKinnon.
The Company will also receive a percentage of sales through its strategic alliances with Triplus, a Trimac Corporation (TSE/MSE:TMA), a major transportation company, and the interactive software maker,
Interactive Lighting Showrooms, Inc. (NASDAQ:ILSR), from which it will receive 2% of gross sales.
MBTI is the parent company of AgriMall.com (www.agrimall.com), HorseNet.com (www.horsenet.com) and BookStable.com www.bookstable.com). MBTI's strategy is to acquire high content, value-added, sophisticated yet navigable websites and become a leader in the $300 billion agriculture industry. MBTI continually evaluates highly focused acquisitions that will further increase both the traffic and volume of e-commerce at its AgriMall.com site. MBTI applies methodologies currently in use by online auction and
marketing houses such as Amazon.com (NASDAQ:AMZN) and eBay (NASDAQ:EBAY). MBTI is positioning itself to file an application for listing on the Nasdaq Small Cap Market in the first half of 1999.
For more information on MBTI visit www.mbtinet.com/investors.
Certain statements in this release are forward-looking. Although MBT International, Inc. 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 MBT International filed with the Securities and Exchange Commission.
CONTACT: MBT International, Inc.
Andy McKinnon, CEO
(303) 688-0244, (303) 814-2382 fax
or
Wolfe Axelrod Associates
Jeffrey Volk
Donald C. Weinberger
Susan Bolen (media)
(212) 370-4500, (212) 370-4505 fax
E-mail: Jeff@wolfeaxelrod.com |
