THE BANK OF EAST ASIA, TRADECARD AGREEMENT SECURES TRADE FINANCING FOR HONG KONG TRADERS
Hong Kong traders will have online access and greater efficiencies in trade finance processing

Hong Kong, April 23, 2001 - TradeCard, Inc., a financial supply chain services provider that enables buyers and sellers to initiate, conduct and settle their trade transactions securely over the Internet, today announced an agreement with The Bank of East Asia to provide TradeCard members online access to export financing.

Financing is critical to traders who require additional working capital to manage manufacturing and receivables. TradeCard members will now be able to obtain seamlessly this important financing from The Bank of East Asia. Using the TradeCard system, traders will be able to access The Bank of East Asia trade financing services and easily apply for the same. The Bank will have real-time access into the transaction, which will increase its decision-making speed.

"TradeCard and The Bank of East Asia understand the needs of Hong Kong traders," said Kurt Cavano, TradeCard's Chairman and CEO. "By linking our proven financial supply chain platform, which has processed over US$10 million dollars of international trade shipments this past year, with The Bank of East Asia, we provide traders the best possible combination of technology and financial tools to make them more profitable."

The TradeCard system provides an alternative to traditional paper-based, expensive and labor-intensive trade settlement methods that require buyers and sellers to operate offline. TradeCard is a web-based system that enables importers and exporters to initiate, conduct and settle their entire transactions online through a secure network. TradeCard's patented data compliance engine checks that actual shipment data matches the original purchase order data agreed upon by the buyer and seller. Managing the entire transaction through a single view adds tremendous visibility and control over the process. Once data compliance is met, funds are electronically transferred from the buyer's account to the seller's account allowing the entire transaction to begin and settle online.

"The Bank of East Asia has long been a reliable trade finance partner. It is only natural that the Bank would offer an Internet-based trade finance solution, enhancing its already strong choice of delivery channels," said Dr. David K.P. Li, Chairman and Chief Executive of The Bank of East Asia. "We want traders to use systems like TradeCard to increase efficiency and grow their global business. Together with TradeCard, we look forward with confidence to the success of this innovative solution."

The Bank of East Asia has built a strong reputation for providing full financial support to customers. It offers a comprehensive range of import and export facilities, including documentary credits, pre-and post-shipment financing, negotiation of export bills, import and export bill collection, and D/A & D/P bill advances. Using systems like TradeCard will further enable the Bank to provide efficient and flexible financing to assist customers to nurture successful businesses.

How TradeCard Works
TradeCard can be accessed by logging onto TradeCard's global commerce site, through an access point such as a marketplace integrated with TradeCard, or through a company's ERP system that is mapped to TradeCard:

The TradeCard transaction begins when the buyer creates a purchase order and negotiates terms with the seller. In addition, to standard terms, such as quantity and price, buyer and seller agree upon the extent of electronic data compliance to occur and options such as assurance of payment. Payment is triggered and the transactions are automatically settled when TradeCard's patented data compliance engine establishes a match at the agreed-upon level between shipping data and original purchase order data. If there is not a match, the discrepancy is identified so the buyer and seller can resolve the issue, after which payment is triggered.

About TradeCard
TradeCard is a financial supply chain service provider. TradeCard's secure transaction infrastructure greatly reduces the inefficiencies and uncertainties found in traditional domestic and international trade transaction processes. By streamlining and enhancing the steps necessary for purchase order approvals, payment decisions and settlement, TradeCard provides a cost-effective, practical and patented service for financial supply chain management.

TradeCard, Inc. is headquartered in New York City with offices in San Francisco, San Diego, Chicago, Hong Kong, Taipei, Seoul and London. TradeCard can be found on the World Wide Web at http://www.tradecard.com.

About The Bank of East Asia
Established in 1918, The Bank of East Asia is the largest independent local bank in Hong Kong with total assets exceeding HK$177 billion.

Following the acquisition of First Pacific Bank, The Bank of East Asia Group operates over 160 branches and representative offices worldwide. These include 134 branches in Hong Kong, 17 outlets in China, and an extensive international network covering the United States, Canada, the United Kingdom, the British Virgin Islands, Singapore, Malaysia, the Philippines and Vietnam.

With over 5,000 staff members, the Bank offers a comprehensive range of personal, corporate and investment banking services. Being the first bank to offer Cyberbanking and on-line share trading services in Hong Kong, it is dedicated to strengthening its existing lead in e-commerce.

Recently, the Bank has received the Euromoney Awards for Excellence 2000 as the Best Domestic Bank in Hong Kong. This reaffirms its status as one of Hong Kong's most respected banks. For further information, please go to the website: www.hkbea.com.

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This press release contains a number of matters that constitute forward-looking statements. The presentation reflects the current views of TradeCard's management with respect to future events and is subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements.