AcuBid.com Inc. and Jaring Data Interaktif Announce Events Relating to Proposed Acquisition.

Business Editors

CARLSBAD, Calif.--(BUSINESS WIRE)--Feb. 23, 2000

AcuBid.com Inc. (OTC/BB: EBID), a Carlsbad, California based Internet company signed a memorandum of understanding with Jaring Data Interaktif (JDI) of Indonesia on January 28, 2000.

The memorandum proposes an acquisition, which will combine the talents and resources of both companies in order to become a leading ISP, broadband Internet access service provider, content provider and e-commerce site for ASEAN, Asia and in particular Indonesia. According to terms, the shareholders of JDI will acquire 33 million shares of AcuBid.com in exchange for 90% of the outstanding stock of JDI. The shareholders of JDI will also be entitled to receive an additional 11 million shares of AcuBid.com which will be held in escrow subject to the surviving corporation obtaining a certain number of Internet Dial-Up customers within 3 years following the acquisition.

The company wishes to further clarify and comment on current legal and business matters relating to that proposed acquisition.

With regard to legal: The company has drafted a formal agreement which both parties are now in the process of reviewing. At the same time the process of due diligence has begun. During this process both companies study relevant contracts, financial material, licenses and agreements that impact on the acquisition. Upon completion the companies will execute the agreement and move toward both regulatory approval in both countries and shareholder approval. It must be understood that no legal obligations arise until the formal agreement is executed. There can be no assurances that this will occur.

With regard to business events: In the beginning of February, JDI through one of its subsidiaries began to accept dial up customers. To date according to Agus Julianto, Business and Technical Director of JDI, over 1700 customers have already signed up. This new business has been accomplished without any formal marketing of the products and services offered. These results are most gratifying but more experience and a full marketing effort will be required to properly define the numbers. JDI is becoming a full service ISP, providing Internet access through its 70% subsidiary P.T. Media Lintas Antara Buana. JDI also provides web hosting and web development services and plans to provide satellite based Internet connection to its customers through the Indonesian cakrawarta satellite that has a foot print over south east Asia countries, up to and including the Philippines and northern Australia. JDI is also developing a portal to provide access to a wide range of content that it has the exclusive licenses to.

As stated in our news release on January 28, 2000 Indonesia, with a population of 210 million, is the fourth most populous country in the world. Research indicates that Indonesia currently has approximately 300,000 Internet subscribers. Surveys indicate that as many as 5 million persons or businesses should be on line by 2003.

Statements contained in this press release, which are not historical facts, are forward-looking statements. Such forward-looking statements are necessary estimates regarding the best judgment of the party making such statements based upon current information and involve a number of risks and uncertainties. Forward-looking statements contained in this press release or in other public statements of the parties should be considered in light of those factors. There can be no assurances that such factors or other factors will affect the accuracy of such forward-looking statements.