Monday May 10, 9:04 am Eastern Time
Company Press Release
MBT International Anticipates
Profitability for Fiscal 1999 as Well as
Record Revenues of Approximately $6
Million
Company To Add 200 Brokers and Agents By Year End Which Will Generate
$3.6 Million
CASTLE ROCK, Colo.--(BUSINESS WIRE)--May 10, 1999-- Advertising Campaign
Generating Approximately $40,000 In First Month,
Expected To Reach $60,000 To $70,000 Per Month
MBT International Inc. (OTC: MBTI - news), the leading provider of agricultural products and
services over the Internet, today announced that based on recent acquisitions, expansion of its
broker network, a successful banner advertising program and continued penetration of the on-line
agricultural market, it expects to report record revenues for the year ending November 30, 1999 of
approximately $6 million. MBTI expects to report a profit for the fiscal 1999 year.
The Company also announced it generated a record $160,000 in April from web design, hosting and
brokerage services and is expected to have 1,000 storefronts by year-end.
The Company noted that its network of agricultural brokers sold approximately $250,000 worth of
farm/agricultural products for the month of April. At its current pace MBTI will add 200 brokers and
agents by year-end. Each broker pays an $18,000 sign-up fee as well as $500 per month to remain
part of the MBTI network. In addition, advertising revenue was approximately $40,000 in April and
is on track to generate $60,000 to $70,000 in monthly ad sales by the end of the second quarter.
Commenting on the announcement, Andy McKinnon, Chairman and CEO of MBTI, stated, ''The
Company continues to successfully execute on its strategic business plan and, as a result, we are on
track for a record year. The MBTI AgriMall.com network of brokers continues to expand and the
total value of products being sold continues to increase. In fact, we expect to add 200 brokers and
agents by the end of the year to the already successful on-line broker community. The additional 200
brokers will generate $3.6 million in up front fees paid directly to MBTI in addition to $500 per
month per broker. We believe we currently offer one of the best advertising opportunities in the
on-line agricultural industry which is why ad revenues continue to grow at such a rapid pace.''
Mr. McKinnon continued, ''MBTI has added key people to its agricultural marketing team.
Additionally, we've expanded the Company's marketing programs to include web development
packages, solutions for large and small companies that distribute product through dealer networks,
retail marketing solutions and old-fashioned cattle trading. We remain confident that we are firmly
positioned to utilize the Internet and our proprietary technology to take advantage of the $300 billion
agricultural market and, as a result, significantly enhance shareholder value.''
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 web sites 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 - news) and eBay (NASDAQ:EBAY - news).
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., Castle Rock
Andy McKinnon, CEO
303/688-0244
Fax: 303/814-2382
or
Wolfe Axelrod Associates, New York
Stephen D. Axelrod, CFA
Jeffrey Volk
Allen Salzberg (media)
212/370-4500
Fax: 212/370-4505
e-mail: steve@wolfeaxelrod.com
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