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C-ME.com COMPLETES INITIAL PUBLIC OFFERING AND BEGINS TRADING ALHAMBRA, Calif., July 23,1999 - C-ME.com (OTC-BB: CMEE), a business-to-business e-commerce company, today announced the closing of its direct public offering. The company's common shares have begun trading on the Over-The-Counter Bulletin Board under the symbol CMEE. Commenting on the closing of the offering, Frank Yuan, C-ME.com president and CEO stated, "We conducted this IPO as a direct offering by our company in conjunction with nine participating broker-dealers that helped us with the process. We believe we're among the first to successfully raise capital in this fashion, without using a lead underwriter." Participating broker-dealers in the offering included Ace Diversified Capital, AM Razo & Company Securities Inc., Corporate Investments Group Inc., Drake & Company Inc., First Montauk Securities, The Malachi Group Inc., Tradeway Securities Group Inc., Travis Morgan Securities and U.S. Pacific Financial Services. "The proceeds from the IPO of approximately $3 million will be used to implement our business plan. Our immediate goals are to expand relationships with our current retail customers including Burlington Coat Factory (NYSE: BCF) and Family Bargain Corporation (NASDAQ: FTUS), and to build new retail customer relationships. We'll do this by increasing our marketing efforts and by devoting resources to the continued research and development of our proprietary Internet products," Yuan added. "Retailers that use our service benefit by having access to a broad range of vendors' products at their fingertips. And, vendors who list with us reach a highly targeted network of buyers at significantly lower sales and marketing costs. Our systems provide real-time feedback on exactly what buyers want -- and then using our technology, vendors are able to respond to the retailers' specific demands. We're leveling the playing field for small and large businesses by maximizing the power and accessibility of the Internet. It's truly a win-win for all involved," stated Yuan. Formed in 1996, C-ME.com is a business-to-business e-commerce company that uses a proprietary Internet-based communications system that brings retailers and vendors together in a time- and cost-efficient manner by streamlining the sourcing, transactions and paperwork processes for buying and selling goods. The company's primary services include: the Virtual Trade Show, located at http://www.c-me.com/lobby - a product showcase forum that allows retail buyers to quickly search among thousands of vendors; the Internet Sourcing Network - a private extranet that links the company's retail customers with their vendors; and the Internet EDI (Electronic Data Interchange) - a system that enables back-end efficiencies between the retailer and its supply chain by reducing purchasing, accounting, receiving and return errors. 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 customers, reliance on intellectual property legislation, use of proprietary un-patented technology, dependence on the Internet 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 the company's prospectus. |
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