LibertyOne to Develop Australian uBid Site

LibertyOne Thursday acquired the
exclusive right to bring American auctioneer uBid into the Australia and New Zealand
markets, as well as the option to establish uBid-powered auction sites in
nine other Asian Pacific countries.

The Australian version of uBid model will focus on business-to-consumer and
business-to-business clients. uBid will not be competing directly with the
crowd of consumer-to-consumer auction sites recently launched in Australia,
according to Warren Lee, LibertyOne’s chief executive officer.

“In fact, uBid’s focus on providing an online auction environment for
established business vendors will actually complement these sites,” Lee
said. “uBid in Australia will allow consumers and businesses to bid for
goods and services supplied by reputable vendors in the areas of computer
equipment, consumer electronics, homewares and, ultimately, a range of
other categories.”

Lee said acquiring the uBid rights met two of LibertyOne’s major strategic
objectives: To import proven Internet brands and to acquire the rights to
for regional development.

LibertyOne’s last major coup in this arena was a joint venture established
with Excite. The Excite Asia Pacific
venture rolled out Excite Australia in May, and LibertyOne is now
localizing the portal in New Zealand and other Asian Pacific countries.

LibertyOne expects the Australian uBid service to start by October.

LibertyOne Limited is Australia’s first publicly listed Internet media
company. The company also provides Web solution services in the region.

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