ComAuction Seeks SugarDaddy in Light of eBay - TradeOut Deal.

DOWAGIAC, Mich.--(BUSINESS WIRE)--Nov. 8, 1999--

ComAuction, Inc., the first Internet business to business online auction site is seeking a partnership with a strong Internet company that wishes to take advantage of the rapidly evolving B2B marketplace and get involved in a market that could be as much as eight times the size of auction giant, eBay.

"eBay's investment into TradeOut is a strong validation for online business to business auctions," said Keith Pitcher, ComAuction's President. "Other leading Internet companies will begin to follow this partnership pattern in order to remain actively competitive." ComAuction has already begun an effort to form a lasting partnership with traditional auction companies, a move releases indicate TradeOut has only briefly considered at this point. Expansion into the larger online market fetching higher prices justifies the traditional auctioneers' consideration of a partnership with ComAuction.

ComAuction is the only open auction service with a fully integrated money management process via Merrill Lynch. This patent pending technology allows an unmatched degree of safety and security businesses need in order to feel comfortable utilizing the Internet as an every day means of procurement. While many auction services offer a third party for escrow services, adding significant cost to transaction fees for the seller, ComAuction has its escrow-like service completely integrated into the site, thus keeping the transaction fee to a low 5%, with no listing fees. The $250.00 yearly registration fee for sellers allows for unlimited postings, and can be adjusted for eligible companies. There is no usage charge to buyers.

ComAuction offers a "virtual inspection" technology to enable buyers to see all aspects of the product they are buying. Sellers are able to post an unlimited number of high resolution photographs of their items. Sellers can also upload files in a .mov format, a unique opportunity to allow 3-D models or even movies of items, creating the atmosphere of true virtual reality making it easier for businesses to find the items they need.

With only 1% of the funding, ComAuction is 300% as efficient as TradeOut in signing new customers and with 1% of item valuation, equally as efficient at getting items posted. "ComAuction's statistics are on par, or better than, our closest competitor," states ComAuction Chief Strategy Officer Keith Kelley. "While TradeOut states a 5% item closing rate, ComAuction's item closing rate is currently 10%, making ComAuction twice as effective at selling the items posted." ComAuction has a closure rate of over 90% on auctions that close with successful bids, well above sites running on an "eBay" model without user authorization and integrated escrow. The company boasts over 665,000 hits, with over 1,000 auctions having been posted. Currently, due to it's newly co-branded site with SunHelp.org (auctions.workstations.org), over 300 active auctions, at a value of over five million dollars are being maintained with the help of ComAuction's account representatives. Also, over a 50% sale rate on targeted categories is being achieved due in part to its market making program. Over 50,000 users have browsed items on the site, and the average customer has returned to the site 13 times.

ComAuction is seeking a partnership with a successful Internet company to provide recognition, validation and strategic cooperation, as well as financial backing to help take advantage of their strong position in the business to business marketplace. ComAuction is already strengthening its position through partnerships with sites such as SunHelp.org and dotnow.com.

ComAuction.com opened on April 23rd, 1999, making it the first business to business online auction site. ComAuction offers the safest and most secure way for businesses to quickly and easily buy and sell products in an auction format on the Internet. "ComAuction is a true full-service business auction, unlike other companies such as ZoneTrader, whose recent comments indicate they are nearly identical to technology focused business to consumer companies such as OnSale or uBid," states iCEO Fred Polmanteer. "With our closest competitor not providing the security and safety ComAuction offers, I'm confident we can dominate the B2B auction market." The company dedicates its sales and telemarketing staff to getting a wide range of products posted and sold, from wholesale/retail and services, to manufacturing and agriculture. ComAuction offices are located in Dowagiac, MI, and can be contacted by calling toll free: 877 4.NET.SELL, or by emailing [e-mail]. More information can be found at www.ComAuction.com