IBART, INC., RESTAURANT.COM ANNOUNCE STRATEGIC PARTNERSHIP

IBART, INC., RESTAURANT.COM ANNOUNCE STRATEGIC PARTNERSHIP

CHICAGO, Ill. —May, 28, 2001—In an effort to give restaurants nationwide the ability to barter for products and services without using cash, Ibart, Inc., is partnering with Restaurant.com, the nation's largest online dining network with approximately 360,000 members.

The companies made a formal announcement at the National Restaurant Association's annual Restaurant Hotel-Motel Show at McCormick Place May 19.

Leveraging the power of the Internet, restaurants are now able to buy or sell goods and services at fair-market value based on a non-cash electronic currency called the Barter Dollar, which will be accessible via Restaurant.com as soon as partnership requirements are put into place.

Restaurant.com COO Scott Lutwak said the benefits of Barter Dollars are no secret.

"The new Restaurant.com barter banking platform brings added technology to the Restaurant.com site, all 360,000 restaurants in our search engine and our current clients," he said. "These new tools add value to the Web site package that makes Restaurant.com the true destination point for all restaurants."

Ibart founder and CEO Christopher Sweis says the effort is geared toward empowering restaurateurs with Barter Dollars, which extend cash run-rates - without using cash.

"Instead of cutting employee benefits or laying-off workers, businesses can compliment their cash flow with Barter Dollars that are recognized by the IRS as a currency that measures the exchange of goods and services between companies," Sweis said. "There really are thousands of ways to reward employees with Barter Dollars, which results in more cash for mission critical expenses -- like payroll"

Restaurant owners can reward employees with Barter Dollars in addition to their cash income and current pay rate, Sweis said. Employees can then use the Barter Dollars for anything from hotel accommodations and airfare to custom-made bedroom furniture and art. The restaurant and Hotel-Motel industries are two of the top five sectors that barter in today's economy.

About Ibart
Ibart, Inc., is a global electronic barter system empowering small and multinational companies alike to leverage their excess production, capacity, services and inventory to acquire other goods and services without the exchange of traditional currency. Ibart is the only barter bank to ever exhibit at the NRA's annual Hotel-Motel Show for two years in a row. Ibart is the unofficial barter-banking firm of the NRA show. The barter bank will proudly processed all Barter Dollar transactions between merchants at the four-day event.

For more information on the show, visit http://restaurant.org; for Ibart details, please browse http://ibart.com; for info on Restaurant.com, please access http://www.restaurant.com. Please direct Ibart, Inc., media inquiries to Kelly Collins via phone (646-607-0753) or email: kelly@ibart.com.





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