BTLY - Strategic Alliances, Pending Acquisitions and a National Barter Exchange Will Broaden Bentley's Expanding Operations7/10/03
LOS ANGELES, CA, Jul. 10, 2003 (MARKET WIRE via COMTEX) --
With the objective of establishing the nation's largest online barter marketplace, Bentley Communications Corp. (OTC BB: BTLY) has entered discussions to create mutually beneficial alliances with a number of major barter exchanges, in addition to pursuing its pending acquisition of Bartercard USA, it was announced today. It also revealed plans to develop proprietary barter exchange software with an integrated payment system.
The software, now being designed in the USA and programmed by a team of experts in Europe, will enable barter exchanges, and the companies that barter through them, access round the clock to a user-friendly, online trade exchange -- tailored to their needs. Moreover, all transactions, including barter and fees will be settled in real time at the point of sale.
In addition to the exchange, the software will enable companies to build their own online stores specifically for barter goods and services, using their own computers through popular browsers, obviating the need to acquire special software. Bentley expects to have a beta version online in about 90 to 120 days.
Discussions with a number of barter exchanges, that combined represent tens of thousands of members, are underway. Bentley anticipates announcing new affiliations and strategic alliances within 30 days. As part of this effort, it will be adding key executives to its management team.
'We see barter as the most extraordinary online business opportunity today and for the future,'said Gordon Lee, Bentley's CEO. 'In fact, we hope to do for barter what eBay has done and continues to do for auctions. There are remarkably similar parallels between the online auction model and the online barter model.'
'One additional adjunct to the barter community, is the multitude of local and regional barter exchanges throughout the U.S. that provide valuable intermediary services to the companies engaged in barter, said Mr. Lee. 'Rather than supercede them, we want to empower the individual exchanges with a state-of-the-art, user-friendly online system that provides for faster trading, increased sales volume, access to new nationwide markets and an entire range of management tools.'
'Although a number of companies offer a variety of barter software packages, no organization has created the national online exchange that allows barter to be conducted across many different exchanges, using different barter currencies at anytime of the day or night. We believe that Bentley, with its knowledge of financial transactions is well positioned to bring this national exchange
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