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FOR IMMEDIATE
RELEASE
C-Me Announces Bangladesh Joint Venture
PASADENA, CA -
5/1/2002 Cyber Merchants Exchange, ("C-Me") (OTCBB: CMEE) an
international B2B Electronic trading company, today announced the establishment
of C-Me Bangladesh. The Joint Venture corporation was formed to further expand
C-Me's global merchandising sourcing network.
"We are privileged to have Mr. Haseeb Alam as our C-Me Bangladesh
partner," stated Mr. Frank Yuan, Chairman and CEO of C-Me. “Mr. Alam is a
U.S. MBA Graduate and his parents (Confidence Group) and his In-Laws (Lotus
Kamal Group) business holdings are one of the leading blue chip business
conglomerates in Bangladesh." Mr. Yuan stated, "Bangladesh is the
world’s leading moderate price garments export center, adding Mr. Alam to our
C-Me's group will give us a head start in the South East Asian Market."
"After carefully studying C-Me's business model, I am thrilled to be a part
of the C-Me team," stated Mr. Alam. "C-Me's strong ties with U.S. and
Global buyers makes it a very unique and leading B2B electronic trading
company." Mr. Alam stated, "C-Me Bangladesh will be the first B2B
E-trading company in Bangladesh. C-Me's ASAP Show held in Las Vegas, NV that is
in conjunction with MAGIC was a brilliant move to put the buyer and seller
together under one roof, which will complement the virtual transactions done
through the Internet."
About Lotus Kamal Group & Confidence Group
Lotus
Kamal Group is led by a self made industrialist Mr. A.H.M. Mustafa Kamal, former
parliament member which has more than 30 manufacturing facilities such as, CMC
Kamal Spinning Mills, LK Spinning Mills, Lotus Engineering, Samwon LK
Electronics Ltd. Oryong Lotus Kamal Paper Mills, Prolexus Lotus Kamal Ltd.
Hardwood Dimension etc. Mr. Kamal also is the father of the Cricket Game
Development in Bangladesh. His introduction of cricket game to Bangladesh and
contributions made Bangladeshi’s enter the World Cup. Mr. Kamal is a very well
reputed name in the context of Bangladeshi Business. Confidence Group dates back
its first operation to 1952. Their flagship company is Confidence Cement
Industries Ltd., which is a blue chip listed company in Dhaka Stock Exchange.
Confidence Power Ltd., Chittagog Steel Works, Asian Paints, and other house hold
brand name products in Bangladesh.
About Cyber
Merchants Exchange, Inc.
C-Me (http://www.C-Me.com)
is an international B2B electronic trading company that creates efficiencies for
retailers to source and finance international purchases.
C-Me builds private extranets - Internet Sourcing Networks, a closed
marketplace, for its retail partners. C-Me’s
patent pending Global Financial Platform allows US retailers to purchase
overseas merchandise without the need of issuing a Letter of Credit.
The Company also provides vendors with a Virtual Trade Show, a vertical
marketplace for vendors to display their products in an open environment
accessible to buyers around the world. C-Me
also produces the Apparel Sourcing Association Pavilion (“ASAP”) trade show
twice a year. ASAP will be held in
Las Vegas, Nevada in conjunction with the world’s largest apparel trade show
week. ASAP’s mission is to
establish a premiere venue for leading international textile & garment
manufacturers to conduct business under one roof with global buyers.
The Company presently has offices located throughout Asia and Turkey.
C-Me has strong strategic partnerships with CIT Commercial Services
(NYSE: CIT), Bank SinoPac, Rical Logistics and Fritz, a UPS Company.
The Company’s current retail partners included among others are:
Factory 2-U Stores, Inc. (NASDAQ: FTUS), Burlington Coat Factory (NYSE: BCF),
Susie’s Deals, and Bermo Enterprises.
Certain
of the statements made herein constitute forward-looking statements
that involve risks and uncertainties.
In such instances, actual results could differ materially as a
result of a variety of factors including the risks associated with the
effect of changing economic conditions at home and abroad, variations
in cash flow, reliance on collaborative retail customers, reliance on
intellectual property legislation, use of proprietary un-patented
technology, dependence on the Internet and on new product development,
variations in new product and service development, risks associated
with rapid technological change, and potential of introduced or
undetected flaws and defects in products and services and other risk
factors detailed in forms filed with the Securities and Exchange
Commission from time to time.
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