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To: Bruce Cullen who wrote (564)	3/12/1999 6:26:00 PM
From: Bruce Cullen	Respond to of 623

March 12, 1999 12:12 Retailer North Face details audit, stock falls NEW YORK, March 12 (Reuters) - Shares of North Face Inc. fell more than 20 percent on Friday after the outdoor apparel retailer confirmed that it will restate its 1997 financial statements and 1998 interim financial statements. The Carbondale, Colo.-based company, known for its stylish ski jackets, rock climbing shoes and camping gear, had said on Thursday that it might restate the results. Its stock had been halted by the Nasdaq stock market, which requested additional information from the company. North Face shares reopened for trading on Friday morning and promptly fell to a three-month low of $9.44, down $3.56, making it one of the biggest losers on the Nasdaq. North Face said that auditors Deloitte & Touche have questioned $7.6 million in "barter transactions" in December 1997 and January 1998, and about the company's repurchase of inventory relating to those transactions in February 1999. The auditors have also asked the company's audit committee to investigate the appropriateness of recognizing revenue on a $2.5 million licensing transaction in the fourth quarter of 1998. The auditors are reviewing whether the company's $6.3 million investment in La Sportiva in July 1998 should have been consolidated. They have asked North Face's audit committee to investigate this transaction and any others that might warrant further inquiry. Determination of the extent of the restatement is expected within two weeks, the company said.

To: Bruce Cullen who wrote (564)	3/12/1999 6:39:00 PM
From: Bruce Cullen	Respond to of 623

March 12, 1999 09:20 Electronic Business Network Announces Sales of $10,000,000 in Web Traffic So Far This Month DEERFIELD BEACH, Fla.--(BUSINESS WIRE)--March 12, 1999-- Electronic Business Network, Inc. (EBN), a wholly owned subsidiary of www.eBIZnet.com, Inc. (http://www.ebiznet.com) (OTC BB:BIZN), has signed a contract with Euro Barter Business (EBB USA, Inc.) for the sale of $2,000,000 worth of banner advertising on a variety of www.eBIZnet.com, Inc. owned websites including websgreatesthits.com (http://www.websgreatesthits.com), the Company's flagship website. EBB will use the traffic from the banner advertising to bring visitors to their websites and to enhance the web presence of their clients. In exchange for this traffic EBB has paid EBN $2,000,000 in trade dollars. Earlier this month EBN announced that it sold $8,000,000 in traffic to Art of Barter, Inc. Says Klaus Heuring of EBB USA, Inc. "I personally believe that our cooperation is timely, and that the marketing tool of the Internet may help to revitalize today's barter industry." According to Garland E. Harris, CEO of www.eBIZnet.com, Inc. "EBB provides EBN a membership base of 7000 International businesses to market its services and traffic to. We thereby gain preferred access to an international network of businesses." The transaction provides EBN a method of purchasing much needed print and television advertising and international travel items such as airline tickets and hotel accommodations, and also helps to preserve EBN's capital reserves. Adds Harris, "The deal with EBB is truly mutually beneficial because EBB gains additional exposure on the World Wide Web and EBN gains immediate exposure into 12 new countries." About EBB USA, Inc. EBB is the acronym for European Barter Business; EBB/USA is its United States affiliate. EBB started in Europe in 1989, has begun operations in North America, and has over 100 offices in 12 countries. EBB is a computerized trade network of consumer and capital goods which uses a proprietary electronic payment system that allows clients to purchase by electronically debiting their EBB trade accounts. This is not intended as an offer to either purchase or to sell securities of the company. Any forward looking statements contained herein are based upon information and belief but no assurances are made or intended. CONTACT: www.eBIZnet.com Inc., Deerfield Beach Garland E. Harris, 954/726-0304 admin@ebiznet.com or Johanna Talifero, 250/715-0133 johanna@ebiznet.com