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Technology Stocks : MBT International Inc. (MBTI) -- Ignore unavailable to you. Want to Upgrade?

To: Hal Rubel who wrote (36)	1/11/1999 9:55:00 AM
From: sPD	Read Replies (1) \| Respond to of 212

MBT International Enters Negotiations with Major Freight Transporter; Surpasses AgriMall.com Development Projections [Apologies to all, I didn't notice that this posted previously - too late to cancel] COCHRANE, AB, Jan. 11 /CNW/ - MBT International, Inc. (OTCBB: MBTI), parent company of AgriMall.com (www.agrimall.com), announced Friday that the Company has entered into negotiations with a leading North American freight transport company to develop a large storefront web presence on the AgriMall.com site. Although specific terms of the proposed transaction were not disclosed, the Company believes that it will receive a substantial up-front payment for site creation, a monthly hosting fee and a percentage of all transactions taking place on the site. It is anticipated that the deal will close during January 1999. Andy McKinnon, CEO of MBT International, stated ''We have been aggressively marketing to new merchants for inclusion in our AgriMall.com. The acceptance level for our service over the past month has been tremendous, far surpassing initial projections. Agricultural merchants continually tell us what a pleasure it is to offer goods and services in a virtual setting dedicated to their industry.'' Based on recent results, the Company anticipates that by year-end 1999, between 1,000 and 2,000 storefronts will be conducting business at AgriMall.com. The Company also announced that it is negotiating to acquire a full-service Internet engineering and graphic design house. The target acquisition, a leader in the field of digital 3D system applications, should greatly enhance the graphics capabilities of the Company's web sites. ''With cutting edge Internet technology and 13 extremely talented developer/programmers, this is a perfect fit for MBT International,'' added McKinnon. ''We expect to close the acquisition within the next month.'' As previously announced, MBTI is in the final stages of acquiring HorseNet.com (www.horsenet.com) and launching an online auction service with nearly $100 million of inventory for sale. The combined value of present listings in AgriMall.com and its companion portal, www.lifeathome.com, exceeds $37 million, while the total value of listings since inception is over $60 million, with broker sales exceeding $16 million. MBTI's strategy is to build very strong web portals such as AgriMall.com to become a leader in the $300 billion agricultural industry. To accelerate the process, MBTI is evaluating highly focused acquisitions that will further increase both the traffic and volume of E-commerce at its AgriMall.com site. MBTI applies technologies currently in use by online auction and marketing houses such as eBay (NASDAQ: EBAY), Amazon.com (NASDAQ: AMZN) and uBid (NASDAQ: UBID). 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 business and operations, there can be no assurance that actual results will not differ materially from expectations. For factors that may cause actual results to differ materially from expectations and underlying assumptions, see reports by the Company filed with the Securities and Exchange Commission. -30- For further information: Andy McKinnon, CEO (403) 932-1122