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Technology Stocks : Information Management Associates - (IMAA)

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To: Evan Dimmer who wrote ()9/15/1999 10:26:00 AM
From: agent99  Read Replies (2) of 165 Membership Increases 250% in Five Weeks; Unprecedented Growth for Internet Shopping Site

SHELTON, CT--(BUSINESS WIRE)--September 15,,
(, the Internet's largest reverse auction Website where the buyer
rules, announced today it has, in the last 5 weeks, more than doubled its membership
enrollment to more than 47,000 buyers.
"We are encouraged by the thousands of people who have signed up for our service and
now enjoy the shopping benefits of a reverse auction Web site", says CEO
Gary Martino. "Both buyers and merchants benefit at buyers get the best
deal and merchants both online and off get more customers to buy their products."
Since opened its site to the public in July, the reverse auction Web
site has steadily increased membership. In August, had 18,000 registered
members, in September that number had more than doubled to 47,000 members. works for both buyers and merchants. For buyers,
eliminates much of the time and confusion people often experience using traditional
Internet shopping models. For businesses, levels the playing field that
e-tailers (merchants on the Web) and retailers (merchants that aren't on the Web) compete
"Market analysts project that consumer Internet sales are expected to grow fivefold in
the next few years", says Gary Martino. " is positioned to take advantage
of this explosive growth and be the market leader in the reverse auction Web site

How It Works offers consumers a better way to shop on the Web; at,
buyers are in control. They can easily and efficiently submit purchase requests and have
them automatically distributed to the many merchants who sell the requested product.
Merchants receive purchase requests and respond to those requests using their account. enables consumers to consult with merchants, get
the best deal, and conclude the purchase at their discretion.
In addition, the system provides the tools that help both buyers and merchants track,
organize and analyze buyer requests and merchant responses. The result is a positive and
effective experience for both buyers and merchants. Buyers can get the best deals
possible and merchants, both on- and off-line, can increase their business.

About (, the Internet's largest reverse auction Web site
where the buyer rules, was founded in June of 1999. The site brings more than 47,000
buying members and 4,000 vendors together for the dynamic and negotiable sale of brand
name consumer goods. was formed and then successfully spun-off as a separate business entity
by Information Management Associates, Inc. (NASDAQ: IMAA), a leading provider of
enterprise software. Current investors include IMA, @Ventures, Inc. (the affiliated
venture capital arm of CMGI), Wand Partners, Inc., Amicus Capital, LLC, and Madrona
Investment Group, LLC. has offices in Shelton, Connecticut and Redwood
Shores, California. For more information, go to, e-mail or call 1-877-889-8900.

CONTACT: Kenneth Juarez
(212) 931-6138
Jacques Wagemaker
(203) 925-6893
10:10 EDT SEPTEMBER 15, 1999
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