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Michael Lewis Nick Findlay

Unibex Alexander Ogilvy PR Worldwide

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Unibex, LEADING B2B E-marketplace PROVIDER, adds

seasoned industry executives to Management Team

Second-round funding helps Unibex’s enhanced management team lead the charge in the business-to-business e-commerce market.

WASHINGTON, D.C. – October 12, 1999 – Unibex, (www.unibex.com) the Internet’s leading creator and operator of electronic marketplaces for Business Communities, today announced it has bolstered its management team with the addition of four experienced technology, marketing and management veterans. Led by Dr. Mady Jalinous, President and CEO, the company has been able to attract a growing list of accomplished executives who possess extensive management experience from premier technology organizations such as America Online, eFusion, IBM, Bell Atlantic Internet Solutions, Open Text and others.

The new management members join Unibex as it completes its second round of private investment, bringing the company’s total funding to date to $9 million.

“Unibex’s ability to execute its goal of becoming the e-marketplace inside leading Business Community hubs on the Internet will largely depend upon the experience, drive and innovation of our executive management team and employees,” said Dr. Jalinous, the architect of the e-commerce business-to-business (B2B) platform. “Our unique business model and innovative technology platform, combined with this group of talented and forward-thinking professionals, will help Unibex continue to establish itself as a major player in the B2B e-commerce marketplace.”

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Unibex

October 12, 1999

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The company’s new executives include:

· Vice President of Corporate and Business Development Michel Heitstuman has more than 15 years experience in international business development at companies such as AOL and IBM. While Director of Business Development at AOL, Heitsuman co-founded the America Online business-to-business division, AOL Enterprise. At Unibex, Heitstuman is responsible for the development of all strategic alliances and has developed the company’s business plan and financial models for its e-commerce business-to-business service and presented the company’s corporate strategy to investors, leading to its initial investment.

· Vice President of Sales and Marketing David Helfgott has 14 years of Telecom and Internet sales and marketing experience at companies such as eFusion, Bell Atlantic Internet Solutions and MCI. At Unibex, Helfgott is responsible for management and administration of all marketing functions for the company’s domestic and international programs, including development of the company’s strategic marketing plans, industry and competitive analysis, marketing communications and direct marketing strategy, and sales and channel management.

· Vice President of Customer Satisfaction Ron Stead brings 20 years of experience in the information technology industry, including senior positions at Open Text, NCR and Burroughs Corporation (now Unisys). At Unibex, Stead is responsible for training programs, documentation, site creation support and customer service, where he has developed a comprehensive customer care program, including self-help systems, e-mail response programs, and a technical customer service organization.

· Director of Software Development Suresh Ramakrishnan has extensive experience in the development and implementation of service applications, operating systems, database management and programming. At Unibex, Ramakrishnan is responsible for directing the company’s development team and converting Unibex’s market requirements and business model into the technical requirements that result in the end-user e-marketplace and e-commerce services.

Unibex recently secured $9 million in operating funds from leading international private investment groups with interests in the B2B e-commerce arena. Its initial investment in July

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Unibex

October 12, 1999

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1998 of $2 million from SCIG, Inc., based in Toronto Ontario, Canada, was used for software enhancements of its leading B2B e-marketplace platform. Its second round of funding of $7 million was recently completed with the Al Kifah Group of Saudi Arabia and is being utilized for sales & marketing, operations and additional development of key application features.

ABOUT UNIBEX

Unibex (www.unibex.com) was founded to empower small and medium-sized enterprises to participate in the global Internet economy through collaborative, online electronic marketplaces. Based in Washington, D.C., Unibex has developed the leading business-to-business (B2B) e-marketplace and e-commerce platform and targets five categories of Business Community organizer: Industry Trade Associations, Trade Show Organizers, Online Business Communities, Global Commerce Service Providers and Trade Development Organizations. Unibex offers an integrated, multi-mechanism platform that includes four e-marketplace services for Business Communities and their member companies, including Virtual Tradeshow, Product Showcase, The Offer Exchange and Auction. Business Community member companies are able to participate in the entire commerce cycle from awareness to product research, comparison, selection, trade lead and business proposal matching, supplier sourcing, negotiation, procurement, trade documentation, payment, logistics and post-sales support.

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