uBid.com Announces the Launch of uBid.com.au.ELK GROVE VILLAGE Elk Grove Village, village (1990 pop. 33,429), Cook and Du Page counties, NE Ill., a suburb of Chicago; inc. 1956. With a population of c.100 at the time of its establishment on open farmland, the village has grown dramatically and steadily, largely because of its , Ill.--(BUSINESS WIRE)--Nov. 5, 1999-- uBid.com (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : UBID), a leading online auction and e-commerce site, today announced the launch of www.ubid.com.au, its affiliated Website in Australia. In July 1999, LibertyOne (ASX ASX See: Australian Stock Exchange : LIB, www.libertyone.com.au) reached an exclusive licensing agreement with uBid.com to use its brand and auction technology in Australia and New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. . The Australian site, which is up and running at www.ubid.com.au, is being managed by LibertyOne. which has plans to establish uBid.com's operations in New Zealand early next year. As part of its agreement with uBid.com, LibertyOne also has the option to establish uBid.com auction sites in a number of other countries throughout the Asia Pacific region. LibertyOne's General Manager for uBid.com.au in Australia and New Zealand, Chris Hitching, said "launching this service in Australia has given uBid.com and LibertyOne first mover advantage in this space, and an enormous head start in the lead-up to our Asia Pacific expansion." uBid.com's Vice President - International, Joel Ludvigsen said "We are very pleased to have partnered with LibertyOne to develop an Australian presence. They are a great company and helped launch the uBid.com.au Website within three months of the formalization for·mal·ize tr.v. for·mal·ized, for·mal·iz·ing, for·mal·iz·es 1. To give a definite form or shape to. 2. a. To make formal. b. of the agreement. We are looking forward to building on the strength of uBid.com.au as we expand into other markets." About uBid.com uBid.com is a leading on-line auction and e-commerce site offering brand name products to both consumers and businesses through live-action bidding using sophisticated auction technology. The company's Internet auctions feature a rotating selection of brand-name computers, consumer electronics, housewares house·wares pl.n. Cooking utensils, dishes, and other small articles used in a household, especially in the kitchen. , sporting goods Noun 1. sporting goods - sports equipment sold as a commodity commodity, trade good, good - articles of commerce sports equipment - equipment needed to participate in a particular sport and memorabilia, and jewelry. uBid.com is committed to providing all customers with the highest-quality auction experience on the Internet and offers supplier warranties on most consumer products. UBid.com also meets Better Business Bureau Online standards, which give customers the confidence and security to bid safely online. uBid.com, with headquarters in Illinois, is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. (Nasdaq: UBID). For more information, visit the company's Web site at www.ubid.com. About LibertyOne LibertyOne's strategic focus is to capitalise on Internet growth in the Asia Pacific region, becoming the leading provider of Internet content, commerce and web solution services in the region. It has a two-part strategy: - Develop compelling Internet content and commerce properties, primarily in the Asia Pacific region. - Provide comprehensive web solution services to clients in the Asia Pacific region. LibertyOne has approximately 250 employees, and offices in Sydney, Melbourne, Brisbane and - internationally in the US, New Zealand, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Malaysia and Indonesia. In December 1998, LibertyOne became the first Internet content company to list on the Australian Stock Exchange Australian Stock Exchange (ASX) Australia's major securities market, formed when the six state stock exchanges (Adelaide, Brisbane, Hobart, Melbourne, Perth, and Sydney stock exchanges) were merged in 1987. (ASX), with an issue price of AUD AUD In currencies, this is the abbreviation for the Australian Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 2.00. In April 1999, LibertyOne became the first Internet content company to be included in the ASX's All Ordinaries Index. NOTE TO EDITORS: All Product and company names herein may be trademarks or registered trademarks of their respective owners. This news release contains "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include management's current view of future events and operations of uBid.com.au. Such statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any forward-looking statement. Factors that could cause actual results to differ materially from such forward-looking statements include the company's limited operating history and its ability to manage growth; the company's ability to maintain relationships with vendors and other online companies; product acceptance by customers of newly-added auction categories; competition from other online auction providers; and changes in Internet technology and consumer demand. In that regard there can be no assurance that uBid.com.au will operate successfully and will expand into other jurisdictions as currently planned. Additional factors that could cause actual results to differ are discussed in "Risk Factors" and other section of the Company's Prospectus dated September 23, 1999, as part of its Registration Statement on Form S-1, as amended, on file with Securities and Exchange Commission and in its other periodic reports filed from time to time with the Commission. (The company does no undertake to publicly update or revise any of its forward-looking statements even if experience or future changes show that the indicated results or events will not be realized.) |
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