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Tuesday December 29, 5:38 pm Eastern Time Company Press Release CBQ, Inc. Announces It Will be Ready to Ship Version 2.0 of Its 'bid4it' Market Maker Program DALLAS --(Business Wire)--Dec. 29, 1998--CBQ, Inc., (OTC BB:CBQI - news) today announced that its wholly-owned subsidiary CyberQuest, Inc. has expanded into the business-to-business marketplace, releasing a new update to its bid4it Web site, incorporating Version 2.0 of ''bid4it'' software. The interactive copyrighted software will offer both consumer and business products under its unique format. CyberQuest Inc., a wholly-owned subsidiary of CBQ, Inc., headquartered in Dallas, and developer of www.bid4it.com has created a virtual Internet-based market based on the principles of the Nasdaq stock exchange. Superior to web auction sites, ''bid4it'' is a completely automated electronic marketplace responding to supply and demand. ''Bid4it'' produces a true market price based on the free market interaction between Bidders and Sellers. Bidders interactively bid on desired products and may modify or delete their ''bid'' at any time before it matches the Seller's ''ask'' (asking price). ''Bid4it'' allows sellers to compete in a worldwide free market for the buyers of all types of products. The Seller may accept any ''bid'' at any time and may modify or delete their ''ask'' at any time before it matches a ''bid.'' Much like the Nasdaq, the patent-pending CyberMarketMaker(tm), an intelligent software engine, continually analyzes bidding and order activity and moves the ask prices up or down in response; evaluating all criteria of a bid and ask before creating a match and an order. When a ''bid'' and ''ask'' match, bid4it electronically completes the transaction and the product is ordered and shipped to the buyer with instant notification to all parties. According to the US Department of Commerce's April 1998 Report, ''The Emerging Digital Economy,'' businesses are expected to trade as much as $300 billion annually over the Internet in the next five years. Cyberquest projects that it is capable of reaching a greater than 1% share of this market in the near term. The company has accepted Mark Pierce's resignation as Director, Executive Officer, and Secretary of the corporation, and appointment of William Flannery, III as Secretary, effective November 19, 1998. bid4it, CyberMarketMaker are trademarks of CyberQuest, Inc. CyberQuest sub-licenses the bid4it software and related technologies to interested parties in vertical markets. NOTE: All trademarks are the property of their respective owners. This press release includes forward-looking statements related to CBQ, Inc. that involve risks and uncertainties, including, but not limited to, quarterly fluctuations in results, the management of growth, market acceptance of certain products and other risks. These forward-looking statements are made in reliance on the ''safe-harbor'' provisions of the Private Securities Litigation Reform Act of 1995. For further information about these factors that could affect CBQ's future results, please see the Company's filings with the Security and Exchange Commission (the ''Commission''). Prospective investors are cautioned that forward-looking statements are not guarantees of future performance. Actual results may differ materially from management expectations. For more information about CyberQuest visit: www.bid4it.com (bid4it WebSite) www.cbq.com (Corporate WebSite) Contact: CONTACTS: CyberQuest Michael Sheriff, 888/378-3162 or 972/732-1100 sheriff@cbq.com Fax: 972/732-1169 | ||||||||||||||
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