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To: GARY P GROBBEL who wrote (849)	1/19/1999 12:30:00 PM
From: GARY P GROBBEL	Read Replies (1) \| Respond to of 1530

IBNL spiked up to 2.81 on this news earlier and is back to the 2.56 area on 60,000. This release has been a long wait but is a pure e-commerce play w/several revenue streams...do your own DD: Interactive Buyers Network International Ltd. Opens Virtual SOURCE Network to Users VENTURA, Calif.--(BUSINESS WIRE)--Jan. 19, 1999--Interactive Buyers Network International Ltd. (OTC BB:IBNL - news) Tuesday announced the opening of Virtual SOURCE Network (VSN), the company's Web-based application for business-to-business e-commerce over the Internet. ''The Virtual SOURCE Network is open for Internet business-to- business e-commerce. Our solution is 100 percent browser based, with no client-side software. The VSN application is delivered to the client, and ready for use after they complete the online registration form. It can be customized by the user, or with help from Virtual Source,'' according to Robert ''Jay'' McShirley, chief executive officer of IBNL. ''The result is an unlimited number of users per company, each with their own password, equipped to handle their unique purchasing or sales requirements.'' The company plans to convert its current users, and phase out its software version of VSN over the next 90 days. The VSN Internet application offers companies access for an unlimited number of users worldwide for a maximum start-up fee of approximately $3,000. VSN earns revenues on a transaction basis. To get information on how VSN works, visit vsource.net. IBNL operates Virtual SOURCE™ Network, a proprietary system designed to enhance business-to-business electronic commerce. Buyers use the Virtual SOURCE™ Network to obtain competitive bids in response to RFQs. Sellers use the Virtual SOURCE™ Network to enhance sales opportunities and provide product and pricing information to customers. The system operates via Internet access. Buyers pay a nominal start up fee and are then billed per transaction. Contact: Interactive Buyers Network International Ltd., Ventura Robert "Jay" McShirley, 805/677-6720 rcmac@vsource.net or Magnum Financial Group LLC, Los Angeles Michael Manahan, 213/488-0443 www.magnumfinancial.com