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Technology Stocks : ICHG - iChargeIt Inc -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Jens Tingleff who wrote (314)	8/3/1999 3:17:00 PM
From: greg lacki	Respond to of 347

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To: Mr. Jens Tingleff who wrote (314)	8/4/1999 2:25:00 PM
From: greg lacki	Read Replies (1) \| Respond to of 347

ICHG news out shoppingplanet.com shoppingplanet.com Wednesday August 4, 1:53 pm Eastern Time Company Press Release iChargeit Inc. Announces Agreement to Acquire Bay Micro Computers Inc., dba PC Shopping Planet Bay Micro Computers To Become Wholly-Owned Subsidiary of iChargeit Inc. HUNTINGTON BEACH, Calif.--(BUSINESS WIRE)--Aug. 4, 1999-- iChargeit Inc. (OTCBB: ICHG - news) announced today that it has signed a letter of intent to acquire all the outstanding shares of Bay Micro Computers Inc. DBA PC Shopping Planet a privately held California Company. After the exchange of iChargeit shares for all of the outstanding shares of Bay Micro Computers, Bay Micro Computers will become a wholly-owned subsidiary of iChargeit Inc. iChargeit expects that the acquisition will occur immediately after iChargeit's shareholders approve the acquisition and the issuance of additional shares. Management expects that the acquisition will be completed within the next 120 days. Formed on July 1, 1998, Bay Micro is well known to resellers and manufacturers in the computer industry. On April 7, 1999, Bay Micro acquired PC Shopping Planet, an internet retailer of computers, components and computer upgrade kits to end users. The combined account base of PC Shopping Planet and Bay Micro Computers is in excess of 40,000. Jesse Cohen, the Chairman, CEO and President of iChargeit, announced that Andrew Akavan, President of Bay Micro, will become President of iChargeit, Inc. Mr. Cohen will continue as Chairman and CEO of iChargeit, Inc. Mr. Cohen commented that ''iChargeit is fortunate to have Mr. Akavan accept the position of President. Mr. Akavan will be a strong addition to the iChargeit management team. Mr. Akavan has eleven years of industry experience in wholesaling of computer components and buying, selling and managing for other computer companies such as Fujitsu, Atlas Micro and Nicom Computers. Statements made in this news release that relate to future plans, financial results, market growth and other projections, events or anticipated results are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results may differ materially due to a variety of factors including competitors with more resources available to them. ---------------------------------------------------------------------- Contact: iChargeit Inc., Huntington Beach 888/815-4390 or DeMonte Associates, New York Investors: Cynthia DeMonte or Sean Leous, 212/473-3700 E-mail: cdemonte@demonte.com