ec-Finance.com

FASTLC ADD ONLINE LETTER OF CREDIT CAPABILITY ALLOWING B2B BUYERS AND SELLERS TO SETTLE TRANSACTIONS EFFICIENTLY AND SECURELY

New York, NY, September 21, 2000 - ec-Finance (ECF) announced today that it will provide VolumeLink and its customers FASTLC™, the first online Letter of Credit (LC) product for B2B exchanges. This Web-based financing option allows buyers and sellers on B2B exchanges to complete financing of their transactions online in an efficient and secure environment.

Wayne Chang, executive vice president of VolumeLink, said: "By partnering with ec-Finance, VolumeLink can now offer its customers the most advanced online trade financing tool in a totally secure and transparent environment. By making all necessary payment arrangements once the terms have been determined by the buyer and seller, FASTLC delivers a one-stop approach to ensure speed, clarity and cost efficiency for each transaction."

FASTLC and its bank payment partners enable B2B exchanges and their customers to rely upon the bank's long accepted role as a trusted third-party in international trade transactions. FASTLC greatly facilitates the trade process by acquiring transaction information and payment instructions from B2B sites and passing the transaction to one of its bank payment partners for execution. B2B customers select the bank they wish to execute the LC from ec-Finance's roster of payment partners. The acquisition and transfer of data occurs completely within a frame on the B2B site, ensuring the site retains the customer at all times.

B.J. Handal, chief executive officer of ec-Finance, said: "FASTLC was specifically designed to respond to the burgeoning needs of B2B exchanges, while preserving the role of the financial institution as the trusted third party for actual funds transfer. Our growing roster of respected bank payment partners will give VolumeLink customers the type of financial transaction capability needed to support international purchases made online."

VolumeLink joins other major B2B exchanges using ECF services, including MeetChina.com, IBNet.com and Commodinet. Under its agreement with Commodinet, announced September 18, ECF will provide payment options for this global business-to-business, electronic marketplace for basic commodities - allowing manufacturers, producers and trading companies to buy, sell and communicate all in one place via the Internet.

LCs are the most popular payment instrument for international trade because they provide significant protection for both the buyer and the seller, ensuring payment if terms specified in the LC are met. LCs do not pose limitations common to escrow accounts or credit cards.

About VolumeLink
VolumeLink is the premier Global Trade Exchange focused on the consumer products market of Asia. VolumeLink technology enables companies to purchase and sell goods through existing brick and mortar networks, creating a Web & client based solution for businesses of all sizes. VolumeLink Vertical Exchanges empower users with the tools and capabilities to perform advanced transactional functions, which maximize product offerings on a seamless Vertical Exchange network. VolumeLink ProTrack Solutions Technology provides users with the capabilities to conduct international transactions online while retaining all the traditional methodologies associated with old-world means of trade. VolumeLink eManaged Systems Technology provides an End-to-End Fulfillment solution for business Suppliers and Buyers worldwide. For more information, please visit www.volumelink.com.

About ec-Finance
ec-Finance provides Internet-based Letter of Credit (LC) products for B2B exchanges and banks which represents significant improvements over existing LC products. With ec-LC™, the core technology system, ec-Finance enables buyers to apply for LCs online, buyers and sellers to initiate and iteratively negotiate amendment and discrepancy requests online, and all supply chain participants to monitor the status of the LC. ec-LC enables the buyer, seller, and issuing and advising bank to streamline the LC process by organizing critical information into a Web-enabled, queriable database - eliminating the fragmentation that can occur in the "off-line" process. FASTLC provides for acquisition of LCs from B2B exchanges which are then executed by one of ec-Finance's established bank payment partners. For more information, please visit www.ec-finance.com.

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