James L. Vandeberg Elected to Cyber Merchants Exchange Board of Directors

PASADENA, CA – June 27, 2001 –Cyber Merchants Exchange, (C-Me) (OTC-BB: CMEE), a B2B electronic international trade company, today announced that James L. Vandeberg, has been elected to its Board of Directors.

Vandeberg has been serving as the company’s Corporate Secretary since January 2000.   “We’re excited to welcome Jim to our board of directors,” said Frank Yuan, Chairman and CEO of Cyber Merchants Exchange.  “His experience advising both Internet and retail companies has been invaluable and the company is proud that he will now participate as a director”.

Vandeberg brings more than 20 years of Corporate Counsel and Secretary experience to the Company.  Currently, he is a partner with Seattle based law firm Ogden Murphy Wallace where he counsels public and privately held businesses in securities, financings, mergers and acquisitions, reorganizations and general corporate matters.  He represents numerous high tech clients in the formation, private placement and public offering stages, as well as serving on the board of directors of several public companies.  

In addition, Vandeberg’s retail experience includes 14 years as Corporate Counsel and Secretary at the former Carter Hawley Hale Stores, a multi-billion dollar department and specialty holding company.   He received his B.S. in accounting from the University of Washington and his J.D. from New York University.

About Cyber Merchants Exchange, Inc. (C-Me)
C-Me (http://www.C-Me.com) uses its proprietary web-based software to create an electronic international trading company that creates efficiencies in the methods retailers use to source and finance international purchases of merchandise. C-Me’s current retail partners include Factory 2-U Stores (NASDAQ: FTUS), Burlington Coat Factory (NYSE: BCF), Bermo Enterprises, McWhorter’s, Sacks SFO, Susie’s Deals and L&L Wings.  The company also provides vendors with the Virtual Trade Show ™ (“VTS”), a vertical marketplace for vendors to display their product in an open environment. The company has formed multiple joint ventures in the Pacific Rim to facilitate direct international merchandise sourcing which makes it as easy for U.S. retailers to source internationally as it does domestically.  C-Me has operations in North America, Asia, Europe and the Middle East.