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iChargeit Inc. Launches B-to-B Barter Site

Online mall operator iChargeit Inc. said it will soon launch iBarterit.com, an e-commerce bartering system for business-to-business transactions.

iBarterit.com will enable businesses to barter goods and/or services on the iChargeit.com site in exchange for selected products available in the iChargeit Cybermall or other items available from iBarterit.com.

The "seller" will possess the option, at the end of the business day, to accept cash, merchandise or services, in any combination, in return for product, the company said. Transactions also can be consummated using partial payment in cash and partial payment with iBarterit credits.

"The iChargeit community is expanding rapidly and the company is responding to a need," said CEO Jesse Cohen. "The barter system is vital to businesses in the midst of growth and/or transition. It is our goal to provide small- to medium-sized businesses every opportunity to prosper by utilizing e-commerce. iChargeit's Internet Incubator plus its bartering system will allow business owners and merchants a myriad of unique and effective options for expanding their operations."

iChargeit previously announced that the company has secured funding and has contracted with Netgateway Inc. to use portions of the Netgateway Internet Commerce Center to drive the iChargeit Auction and Classified Advertising Site to be deployed in the iChargeit.com Cybermall and Virtual Arcade. The projected launch is July 1999.

iChargeit.com began Phase I deployment last March of its Cybermall and Virtual Arcade. Through a previously announced agreement with the Total Entertainment Network, iChargeit soon will launch iChargeit Classic Games by TEN, an interactive gaming site. iChargeit is also offering traditional ISP access in 500+ cities in the U.S. and Canada.