C-Me Announces Partnership With Corporate Council on Africa.

Business Editors

ASAP Show

PASADENA, Calif.--(BUSINESS WIRE)--Oct. 29, 2002

ASAP Global Sourcing Show ("ASAP"), a wholly owned subsidiary of Cyber Merchants Exchange ("C-Me") (OTCBB:CMEE), an international B2B electronic trading company, today announced its partnership with the Corporate Council on Africa ("CCA").

The joint partnership comes as a result of the continued success of the ASAP Show. Africa will be exhibiting at the next ASAP Shows in February and August 2003.

Africa has teamed forces with ASAP largely because of the newly initiated trade law, the African Growth Opportunity Act ("AGOA"). AGOA permits the export of duty-free and quota-free apparel products from 36 African countries to the U.S.; contingent on materials being made from U.S. originated fibers. AGOA also allows for the export of duty-free apparel products to the U.S. using African fabric or yarn, which are subject to the tariff rate quota (TRQ). In addition, African countries designated as "lesser developed" are able to export apparel products using third country fabric or yarn, assembled in Africa, duty free.

AGOA mandates that a ministerial-level Forum and a parallel Private Sector Session be held every year between the United States and the 36 eligible countries of Africa. ASAP welcomes Africa in the wake of their second annual Forum to be held in Mauritius, January 13-17, 2003. U.S. and African cabinet ministers, government policy makers, business leaders and investors will join together in recognition of the AGOA Forum. The Mauritius Private Sector Session will feature a trade exhibit and workshops focusing on the core AGOA sectors, namely textiles and apparel. C-Me will maintain a presence at the Forum, highlighting its services and upcoming ASAP Show in February 2003.

About the Corporate Council on Africa (http://www.africacncl.org)

CCA, established in 1992, is a nonpartisan 501 (c) (3) membership organization of nearly 160 American companies dedicated to strengthening the commercial relationship between the United States and Africa. CCA members represent nearly 85 percent of total U.S. private sector investments in Africa. CCA's website is at www.africacncl.org.

About Cyber Merchants Exchange, Inc. (http://www.C-Me.com)

C-Me is an international B2B electronic trading company, creating efficiencies for retailers to source and finance international purchases. C-Me builds private extranets for its retail partners and offers its patent pending Global Financial Platform allowing US retailers to purchase overseas merchandise without the need of issuing a Letter of Credit. C-Me produces the Apparel Sourcing Association Pavilion ("ASAP") Global Sourcing Show twice a year in Las Vegas, Nevada, in conjunction with the world's largest apparel trade show week. ASAP's mission is to establish a premiere venue for leading international textile and apparel full package factories to conduct business under one roof with global buyers. The Company presently has offices located throughout the world. C-Me has strong partnerships with CIT Commercial Services (NYSE:CIT) and Bank SinoPac. The Company's current retail partners include: Factory 2-U Stores, Inc. (Nasdaq:FTUS), Burlington Coat Factory (NYSE:BCF), Susie's Deals, and Bermo Enterprises.

Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties. In such instances, actual results could differ materially as a result of a variety of factors including the risks associated with the effect of changing economic conditions at home and abroad, variations in cash flow, reliance on collaborative retail partners, and on new product development, variations in new product and service development, risks associated with rapid technological change, and potential of introduced or undetected flaws and defects in products and services and other risk factors detailed in forms filed with the Securities and Exchange Commission from time to time.