Company Press Release

Farmbid.com Creates First Global Market for Farm Equipment and Products

On-Line Auction Site Provides New Opportunities for Farmers

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--July 13, 1999--Once, the most important piece of farm equipment was a tractor.

Today, it may be a laptop and a link to the World Wide Web. With profit margins decreasing and expenses increasing, farmers are looking for ways to grow their businesses. With the debut of Farmbid.com, farmers have a new source for buying and selling agricultural equipment, supplies and merchandise.

A $250 billion industry, farming is becoming increasingly high-tech, and industry analysts believe that up to 30 percent of the nation's farmers have Internet access. Farmers are logging on to check real-time weather reports, apply for loans, investigate market conditions, and now to buy and sell at Farmbid.com. Auction categories include Tractors, Parts, Tools, Technology, Livestock, Crops and Forage, Produce, Tools, Country Store, and Supplies. Listings are free for the first 120 days, with minimal fees to place an item as a ``featured auction'' or to place listings in bold print. Farmbid.com takes a sales commission on every item sold.

``The online market is surging and the concept of Web auctions is still in its infancy,'' said Ted Farnsworth, President and Founder of Farmbid.com. ``The key to success in Web auctions is not just to provide a buying and selling arena, but to offer added value components, functions and attractions. Farmbid.com is a niche that wrapped itself around the success of the Internet. The power of e-commerce is a farmer's opportunity as well as an investment opportunity that offers tremendous potential.''

Farmbid.com is set to make an impact not just in the United States but on the worldwide farming community as well. Farmers from Russia and Lithuania have already expressed an interest in purchasing cucumber seeds, honey and other commodities from Farmbid.com.

Arrangements are in place for the transportation of items to other countries.

In addition to providing an arena for buying and selling, Farmbid.com also offers its members an on-line community, a valuable service for many rural farmers whose time for socializing is limited by the work that needs to be done during daylight hours and the time it takes to drive to town. The chat room allows people to swap stories, share advice, and even trade recipes.

The hottest segment of e-commerce, on-line auctions, draws millions of consumers who are bidding on everything from computers to cars. Industry analysts predict that consumer and business auctions on the Web will explode in the next two years, and say it's only a matter of time before every retailer has an auction site.

Farmbid.com is a privately held company located in Fort Lauderdale. It is anticipated that the venture will undergo an IPO before the end of the year.

For more information, visit www.Farmbid.com

Contact:

     L & L Communications, Deerfield Beach, Fla.
     Radley Moss, 954/426-5127
     radley@llcomm.com
     or
     Lisa Atkinson, 954/426-5127
     lisa@llcomm.com
     or
     Farmbid.com, Fort Lauderdale
     954/761-9677
     ted@infospot.com