BarterTrust Appoints Scott Ray Chief Financial Officer.

Business Editors

SAN FRANCISCO--(BUSINESS WIRE)--July 25, 2000

Internet Barter, Incorporated (the "Company"), which maintains the BarterTrust(tm) Network, announced today the appointment of Scott Ray as Chief Financial Officer (CFO), effective immediately.

As CFO, Ray will oversee the expansion of the BarterTrust Network, assist in the development of regulations governing the barter economy, and promote those currencies that are used within the BarterTrust Network which today include the BarterTrust Dollar (BT$) in the United States, the BarterTrust Canadian Dollar in Canada and the BarterTrust Mexican Peso in Mexico.

Ray most recently served as Chief Financial Officer of Bay View Capital Corporation, a diversified financial services company headquartered in San Mateo, Calif. Previously, he served as Chief Financial Officer of Santa Clara, Calif.-based Silicon Valley Bancshares and its wholly owned subsidiary, Silicon Valley Bank, the premier financial institution serving the technology industries. Ray is a Certified Public Accountant with more than 15 years of private industry and public accounting experience.

"Scott possesses the credentials and experience necessary to enhance the BarterTrust Network as a powerful economic tool in business-to-business e-commerce," said Mike Edelhart, president and chief executive officer of Internet Barter. "He understands what it takes to build a dynamic economy around the barter industry. We are delighted he has joined our management team."

"A lucrative barter economy hinges on fluid buying and selling," Edelhart said. "Scott will ensure that trade runs smoothly and that our economy remains healthy as we continue our plans for aggressive growth."

"I'm excited about the opportunity to join the company and build a large-scale barter economy," Ray said. "This is an excellent situation for me to apply my experience to a dynamic organization with significant growth prospects, and I look forward to working with the company to achieve its strategic goals."

About Internet Barter, Incorporated

Internet Barter, Incorporated (the "Company") maintains the BarterTrust(tm) Network, an international business-to-business barter exchange for companies across a broad range of industries. Leveraging the power of the Internet, member companies, ranging in size from large, multinational corporations to small- and medium-sized businesses, buy and sell goods and services at fair trade value based on a non-cash electronic currency called the BarterTrust Dollar (BT$) in the United States, the BarterTrust Canadian Dollar in Canada and the BarterTrust Peso in Mexico. The Company is privately held and headquartered in San Francisco. In three rounds of financing, the Company has raised $70 million in venture funding from General Motors Investment Management Corporation, Deutsche Banc Alex. Brown, GE Equity, the private equity division of GE Capital Corporation, Venture Strategy Partners, Generation Partners, MSC Industrial Direct, PurchasePro.com and several investment firms including Argus Capital, Draper Richards, El Dorado Ventures and Vector Capital as well as individual investors.

More information about the Company and how to join the BarterTrust Network can be found on the company's web site at www.bartertrust.com.

Note to Editors: The name BarterTrust is a trademark of Internet Barter, Incorporated.