FIRST COMMERCIAL BANK, TRADECARD AGREEMENT SECURES TRADE FINANCING FOR GLOBAL ONLINE FULFILLMENT AND SETTLEMENT NETWORK
Bank's Hong Kong branch completes export financing transaction for footwear supplier to major US footwear company

Taipei, October 4, 2000 - TradeCard, Inc., an online network that enables buyers and sellers to conduct international trade transactions securely over the Internet, today signed an agreement with First Commercial Bank to provide TradeCard members access to export financing. The partnership will enable Taiwanese traders with a total solution to conduct international trade online.

First Commercial Bank will offer TradeCard services to its customers as an alternative to current international trade payment mechanisms, such as the letter of credit or open account. Using TradeCard, First Commercial Bank customers will have easy access to online trade financing solutions with full visibility of transaction status and data accessibility anytime, anywhere, enabling the Taiwanese trading community to increase efficiencies, receive payment guarantees from overseas buyers, and expand the global reach of their business.

"The TradeCard/First Commercial Bank alliance greatly enhances the product offerings of both companies. For TradeCard, offering export financing through First Commercial Bank expands our ability to reach Taiwanese traders. Conversely, the alliance provides First Commercial Bank a cutting-edge international trade solution for their trading customers," said Guy Rey-Herme, President and Chief Operating Officer of TradeCard, who was in Taipei to sign the agreement.

An alternative to traditional paper-based and labor-intensive trade settlement methods that require buyers and sellers to operate offline, the TradeCard system enables importers and exporters to complete their entire transactions online through a secure network. TradeCard's patented compliance engine checks that actual shipment data matches the original purchase contract data agreed upon by the buyer and seller. Once compliance is met, funds are electronically transferred from the buyer's account to the seller's account.

"As e-commerce rapidly improves the way international trading is done, our customers want complete access to its great potential so they can do business more efficiently and profitably," said Chien-Chung Tseng, Executive Vice President of First Commercial Bank. "First Commercial Bank's alliance with TradeCard allows us to provide this potential to our customers so their businesses can prosper. And when their businesses prosper, so does First Commercial Bank."

How TradeCard Works
In order to use TradeCard's patented transaction system, buyers and sellers must first become approved TradeCard members. To begin a transaction, the buyer creates an electronic purchase order in one of three ways: through the TradeCard system using its contract templates, via electronic file from a company's ERP system, or from an online marketplace. TradeCard then notifies the seller that there is a purchase order pending for review. The buyer and seller can further negotiate the purchase order online. Once they agree to the terms, both buyer and seller authorize the purchase order with digital signatures.

TradeCard stores the approved purchase order in its secure, proprietary database. Once the goods are shipped and the required documents are electronically submitted, an assurance of payment is attached to the purchase order, ensuring that the seller will receive payment upon receipt of goods if terms are met. TradeCard's patented compliance engine then electronically compares the data from the electronically submitted shipping documents to the original purchase order. If discrepancies are identified, the buyer and seller can negotiate them online. Once compliance is met, payment is transferred electronically from the buyer's financial institution to the seller's financial institution.

In addition to these core transaction features, TradeCard members can contract for pre- and post-export financing, inspection services, cargo insurance and other value-added services.

About TradeCard
TradeCard is a business-to-business e-commerce infrastructure that enables buyers and sellers to conduct and settle international trade transactions securely over the Internet. By aggregating buyers, sellers and disparate trade service providers, our solution automates and streamlines existing international trade transaction processes, which are complex, paper-based, time-consuming and expensive. Our objective is to provide a secure, reliable, cost- effective and easy-to-use solution for conducting and settling international trade transactions.

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

About First Commercial Bank
First Commercial Bank, established in 1899, is one of the largest and oldest banking institutions in the Republic of China. In coordination with the government's financial liberalization policy, the bank was partially privatized on January 22, 1998, making it the biggest private bank in Taiwan. As of December 31, 1999, government-owned shares in the Bank have declined to 39.36%. The Bank is chartered in a limited liability corporation and its shares are listed on the Taiwan Stock Exchange. First Commercial Bank has a comprehensive global network of 200 offices around the globe in all the major financial centers attracting overseas Chinese' investments, making First Commercial a leader amongst Taiwanese banks. First Commercial Bank is committed to providing the best e-commerce solutions available as well as fast and convenient financial services to its customers. First Commercial Bank also strives to assist Taiwanese corporations conduct their businesses globally in a safer and more efficient way so that they can achieve higher business profitability and efficiency.

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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.