AcuBid.com Completes Audited Financials, $4 Million Financing.

CARLSBAD, Calif.--(BUSINESS WIRE)--Aug. 17, 1999--

AcuBid.com (OTCBB:EBID) today announced that it has completed its audited financial statements and is preparing to file a FORM 10 application with the SEC to become a reporting company.

In addition, $4 million worth of preferred stock has been sold. The proceeds will be used to implement a national marketing campaign, acquire inventory to be auctioned on the company's Web site (http://www.acubid.com), assist in negotiating endorsement contracts, and provide working capital.

AcuBid.com is a new premium Internet auction house offering auctions on sports memorabilia, coins, stamps, and other collectibles. AcuBid.com features an inventory of rare and hard-to-find items owned and validated by the company. In addition, individual sellers and dealers are displaying and selling their collectibles to visitors from across the Internet.

"These are significant milestones for AcuBid.com," said company chief executive officer Michael A. Schaffer. "We are gaining acceptance and awareness from online auction users. Our online banner ad campaign will start later this week on Yahoo (Nasdaq:YHOO), Lycos (Nasdaq:LCOS), Excite, and GO Infoseek.com. This will increase visibility for the company," he added.

AcuBid.com is a publicly traded Delaware corporation (OTCBB:EBID), whose principal office is in Carlsbad, Calif. AcuBid.com can be reached via http://www.acubid.com or 760/804-0023.