FairMarket Powers New CyberShop Auction

Woburn, MA-based FairMarket Inc., a provider of online
auction and e-commerce solutions, said it was selected to host the new auction
service launched by CyberShop International Inc.

CyberShop is an online retailer of discounted designer and brand name
The newly launched CyberShop Auction is linked from the company’s online store
at auctions.cybershop.com.

CyberShop Auction utilizes FairMarket’s Merchant AuctionPlace, a customizable
service that enables Web merchants to build an online auction presence quickly
and easily. CyberShop controls and customizes the specifics of how the auction
will operate, and what it will look like, through FairMarket’s Web-based
administrative interface.

“Auctions are a natural extension of our core strategy to grow our revenues
and customer base by offering ‘great deals on great brands.’ We believe this
format will enable us to attract new customers, create awareness about our
product assortment and enable us to differentiate ourselves from other off-
price retailers,” said Jeffrey Tauber, CyberShop chairman and CEO.

FairMarket’s AuctionPlace offers an unbranded, customized, feature-rich
auction that allows Web communities and merchants to own and control the user
registration, listing information, pricing and user interface. Financial
arrangements between the companies were not disclosed.

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