CBQ, Inc., The E-Business Infrastructure Company, Announces an Update On the Company's Recent China Mission, Focus, Financing and Revised Business Plan.

Business Editors

WASHINGTON--(BUSINESS WIRE)--Jan. 3, 2001

CBQ, Inc. (OTCBB: CBQI) The E-Business Infrastructure Company, announced today an update on the company's recent China mission, focus, financing and revised business plan, which should be published in part on CBQ's web site this month.

Referring to the recent mission to China as a complete success, CBQ CEO Bart Fisher reported today that the China mission undertaken by himself and CBQ President, John Moran, the first week of December had more than fulfilled their expectations. "We had two primary goals targeted," said Mr. Fisher. "First of all was to complete our diligence on software programming resources in China and, secondly, to explore a potential source of new investment capital for CBQ from China. The Company has focused on software and related Information Technology industry infrastructure since CBQ acquired Quantum Technology Group, Inc. last August. The trip convinced us that we have a singular opportunity to be a leader in software development and outsourcing if we focus our complete attention on the resources we are developing in China in concert with our sales and marketing effort here."

With regard to investment capital from China, Mr. Fisher remarked, "We conducted negotiations with an interested party while in Beijing and established due diligence follow up for them to take place here in the US on our return. Even though there is additional due diligence to be completed, we believe the negotiations have progressed exceedingly well and believe we can look forward to obtaining a minimum of $5 million - $10 million in new financing during the first quarter of 2001."

"After we returned from China, we performed follow up due diligence on both the programming resource side and potential investment side, which had to be addressed prior to making this announcement," said John Moran. "We are please that we were able to complete both follow ups late last week and we are now aggressively moving forward on these fronts."

"The potential investor group we met with in China is uniquely positioned from both US and Chinese vantage points to understand and support our software and IT integration strategy." Moran continued, "They believe with us that it's critical to CBQ's success that we eliminate any distraction to our core business plan. We must focus on our software and related infrastructure strength in the Information Technology industry. Currently, we are very close to launching our biggest project to date utilizing our software resources in China."

"As a consequence of our core business focus, we are exploring options for the disposition of our interests in Priority One, China Partners and China Wireless to others who have the time and resources to devote to these ventures. A summary of our software and related IT industry infrastructure strategy will be published on our web site later this month," Moran said.

About CBQ, Inc.

CBQ, Inc. The E-Business Infrastructure Company is an end-to-end provider for implementing customer-driven e-business solutions. Through its subsidiaries, Quantum Technology Group, and ChinaSoft it provides a full range of network integration services, software development, and web-based solutions, as well as information technology outsourcing resources. For more information on Quantum Technology Group, visit http://www.qnettech.com. ChinaSoft, Inc. is a wholly-owned subsidiary of CBQ, Inc. Its services include Software Development for Enterprise computing and Internet development. For more information about CBQ, Inc., visit http://www.cbq.com.

This news release includes forward-looking statements related to CBQ Inc. that involve risks and uncertainties, including, but not limited to, quarterly fluctuations in results, the management of growth, market acceptance of certain products and other risks. These forward-looking statements are made in reliance on the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. For further information about these factors that could affect CBQ's future results, see the company's filings with the Securities and Exchange Commission (the "Commission"). Prospective investors are cautioned that forward-looking statements are not guarantees of future performance. Actual results may differ materially from management expectations.