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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (7807)	6/10/1999 8:37:00 AM
From: Kimberly Lee	Read Replies (2) \| Respond to of 108040

ECEC news, stock sitting at support. eCom eCom and MG Auctioneers Unveils Absolute Auctions Concept; Seeks Liquidated and Closeout Merchandise 07:11am Business Editors MIAMI--(BUSINESS WIRE)--June 10, 1999--MG Auctioneers and Brokers, Inc. and eCom eCom.com, Inc., (OTC BB: ECEC) (www.ecomecom.com) today announced finalized plans to sell closeout, overstocks, salvage and liquidation merchandise on an "absolute" auction basis through the eCom eCom Trading Club. "To our best knowledge, no other Internet auction company including eBay (Nasdaq:EBAY) and Amazon.com (Nasdaq:AMZN) buys distressed inventory for the purpose of allowing buyers to purchase the merchandise using the "absolute" auction method" said eCom eCom CEO David J. Panaia. "We are proud to be the first online company to offer consumers this unique Trading Club concept to find true bargains and deals." said Panaia. MG Auctioneers President W. Michael Guyer believes that merchandise seekers should be educated to the differences between "absolute" auctions and auctions that incorporate reserves and starting bids. "Reserves and starting bids allow sellers to dictate the minimum purchase price. Absolute auctions create an opportunity for real deals because merchandise is sold to the highest bidder regardless of the price," said Guyer. In addition to absolute auctions, eCom eCom Trading Club will continue its current auction format along with swapping and classified listings. "Unlike eBay or Amazon.com we offer consumers these different options to purchase and sell merchandise -- including the standard online auction format and now our absolute auctions," said Panaia. In the near future, to help distinguish items on the eCom eCom auction site, "absolute" sale items will be clearly identified with a special marker. In a related matter, eCom eCom is currently soliciting businesses for merchandise. "We will liquidate inventories, buy close outs, returns, excess, etc. for either cash or we will offer the full value in a stock for asset exchange," said Panaia. Interested businesses should contact eCom eCom. About eCom eCom.com, Inc. eCom eCom.com, Inc. develops unique Internet e-commerce businesses. The company is the parent of the ECEC Trading Club which is carving its niche in an Internet auction industry that has been projected to reach $52 billion in sales by 2002. It also owns US Amateur Sports Company which is being developed as a portal for amateur athletes up to college age. This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from those discussed in such forward-looking statements. --30--eb/ny* CONTACT: M.G. Auctioneers and Brokers, Inc., Miami W. Michael Guyer 305/254-8215 or eCom eCom.com Inc., Riviera Beach David J. Panaia 561/622-4395 E-mail: dave@usas.com KEYWORD: FLORIDA INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS INTERACTIVE/MULTIMEDIA/INTERNET Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com Jun-10-1999 05:16 GMT Symbols: US;ECEC Source BW Business Wire