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.

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