KOREA EXCHANGE BANK TO PROVIDE ONLINE TRADE FINANCE PROCESSING FOR KOREAN TRADERS
TradeCard to Provide Online Capabilities for Bank's Customers

Seoul, October 11, 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 Korea Exchange Bank to provide Korean TradeCard members online access to export financing.

Financing is critical to traders who require additional working capital to manage manufacturing and receivables. Through TradeCard, traders will be able to easily apply for and access Korea Exchange Bank's trade financing services online. Korea Exchange Bank will have real-time access to these applications, increasing the speed with which the bank can respond to and approve the financing requests.

"TradeCard and the Korea Exchange Bank are working together to improve the way Korea traders do business," said Kurt Cavano, Chairman and CEO of TradeCard. "Our platform, which has processed over $50 million in trade shipments, provides Korea's traders an easy, cost-effective and efficient way to improve their cross-border trade operations. Korea Exchange Bank enhances this value proposition by providing the critical export financing component."

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 enables importers and exporters to initiate, conduct and settle their entire transactions online through a secure network as well as apply for export financing. 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 Korea Exchange Bank and TradeCard are delivering key trading tools to Korea's import and export community. The synergy of their technology and our financing offer our customers a proven, efficient way to streamline their business processes and become more profitable," said Mr. Kyung Lim Kim, President of Korea Exchange Bank.

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, Seattle, Chicago, Hong Kong, Taipei, Seoul and London. TradeCard can be found on the World Wide Web at http://www.tradecard.com.

About The Korea Exchange Bank
Korea Exchange Bank(KEB) was established as a government-owned bank in January 1967, when it was separated from the Bank of Korea to specialize in the foreign exchange and trade business. For the following decades, KEB was the only Korean bank to offer trade financing and foreign exchange services.

To keep pace with Korea's booming economic growth in the 1970's, the bank expanded and diversified its activities to include a full range of commercial banking services with extensive financial networks at home and abroad. In 1977, when trade finance and foreign banking businesses were liberalized to spur the export-driven economy, the Bank ventured into commercial banking after losing its proprietary grip on these lucrative sectors. KEB, a latecomer to commercial banking steadfastly developed a wide range of innovative products and services, built up a strong customer base and established extensive branch networks while continuing to sharpen its traditional dominance in international banking.

Following privatization in 1989, the Bank offered its shares for public ownership in 1991 and all shares were listed on the Korea Stock Exchange in 1994. The Bank has since enjoyed the distinction of being one of the leading commercial banks in Korea. In July 1988, the Bank increased its capital to W1,175 billion by successfully attracting W350 billion capital participation from Commerzbank. The Bank, during April 1999, further increased its capital to W2,481 billion through a successful rights offering of W1,022 billion, in which Commerzbank increased its stake in the Bank by additionally investing W260 billion. Most recently, major shareholders participated in a capital increase of W610 billion during December 2000, when Commerzbank invested an additional W210 billion and Export Import Bank of Korea invested W400 billion.

KEB is a banking pioneer on a number of fronts: it is the first Korean bank to establish overseas branches and subsidiaries, as well as the first to introduce cash dispensers, credit cards, and an on-line deposit/withdrawal system, holding untouchable and leading market share in international banking. As of December 31, 2000, KEB had 269 branches and 4 subsidiaries in the domestic market and 21 branches and 11 subsidiaries on overseas markets.

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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.