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To: jjs64 who wrote (1157)	8/3/1999 1:14:00 AM
From: Julie Simmons	Read Replies (1) \| Respond to of 1567

I know they are a paid service, but I was under the impression that they are a credible paid service. At any rate FECC had a major announcement today. First Ecom.com and Hong Kong Banking Consortium, JETCO, Sign Memorandum of Understanding to Provide E-commerce and Electronic Bill Presentment and Payment Services JETCO Relationship to Help Strengthen First Ecom.com's Role in Developing E-commerce in Asia HONG KONG--(BUSINESS WIRE)--Aug. 2, 1999-- First Ecom.com Inc., (OTC BB:FECC), a leading Internet payment processor for companies based outside North America, today announced it has signed a memo of understanding with JETCO (www.jetco.com.hk), the Hong Kong-based banking consortium, to provide e-commerce and electronic bill presentment and payment (EBPP) services. The MOU specifies that First Ecom.com will provide an e-commerce gateway for Internet transaction processing, which will ultimately enable JETCO's 51 member banks to offer e-commerce and electronic billing services. First Ecom.com will initiate its JETCO relationship through a pilot program, with plans to deploy full e-commerce and EBPP capabilities in Q1 2000. Several of the North American financial institutions that are part of the JETCO consortium include The Chase Manhattan Bank, Bank of America (Asia) Ltd. and Citibank N.A. ''Hong Kong's major utility companies are already looking to JETCO to provide electronic billing and other e-commerce services, and First Ecom.com will create the common payment processing gateway to help make that happen,'' said Gregory Pek, president and CEO of First Ecom.com. ''Working with JETCO will help strengthen First Ecom.com's position as a dominant Internet transaction processor in Hong Kong, and we look forward to becoming their e-commerce partner.'' JETCO currently operates more than 1,500 ATM machines in Hong Kong, handling more than 300,000 intra-bank transactions per day. The JETCO member banks represent about 80 percent of the banking industry in Hong Kong, giving First Ecom.com significant market penetration in Hong Kong. About First Ecom.com First Ecom.com (OTC BB:FECC) is a leading provider of online payment processing services for merchants outside of North America. Through a series of strategic alliances, First Ecom.com approves merchants and processes transactions in a tax-neutral jurisdiction without the need for using U.S. banking institutions or U.S.-based ISPs. FEC offers online credit card processing solutions for merchants in their preferred currency. For more information, contact First Ecom.com at 888/305-8233, by e-mail at ir@firstecom.com or at www.firstecom.com. Certain statements contained herein are ''forward-looking'' statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.