uBid, Inc. Launches New Express Auctions

Consumers now have a fast, easy way to get great auction deals. Online auction provider, uBid, Inc. announced the launch of a new program called Express Auctions that gives consumers a chance to bid and win on great products in only 20 minutes time.

uBid posts new items on Express Auctions every 20 minutes continuously from 9AM to 1PM (Pacific time), Monday through Friday. Consumers can bid on a wide selection of quality items. All auctions always start at $1 and there are never any minimum reserve prices.

"Express Auctions is a great new concept, particularly appealing for people who don't want to wait the typical amount of time for an auction to close." said Tony Priore, Chief Marketing Officer of uBid, Inc. "The merchandise is high quality and ranges from jewelry, watches and collectibles to home furnishings, apparel, even tools" he said.

uBid, Inc., part of the Petters Group Worldwide family of companies, has recently stepped up its new product development efforts with the launch of uBid Travel, Mega Auctions and now, Express Auctions. Several new auction categories, enhancements and upgrades are also planned for introduction throughout the remainder of the year.

"uBid is committed to providing our customers with a fun, innovative auction and buying experience," said Bob Tomlinson, CEO of uBid, Inc. "We will continue to build these new programs within our "trusted marketplace" framework to guarantee our customers have the best experience in online auctions today," he said.

About uBid, Inc.
uBid is a leading brand name auction marketplace that offers consumers and businesses manufacturers merchandise at below wholesale prices. Founded in 1997, uBid has swiftly emerged as a major force in the e-commerce world. Formerly owned by CMGi, today uBid is a member of Petters Group Worldwide, uBid specializes in providing customers with savings on items from leading brands. In addition to uBid's own product listings, uBid features uBid Certified Merchant listings in which consumers will find items listed by uBid approved businesses. With more than 5 million registered users, uBid is committed to providing its valued customers with the highest quality experience on the Internet and offers manufacturer warranties on products. For more information, visit the company's web site at www.ubid.com.

About Petters Group Worldwide
Petters Group Worldwide^TM is a recognized leader in creating, developing and investing in companies that manufacture, procure and market merchandising solutions for key growth markets. Petters' core portfolio includes a growing list of retail and wholesale companies operating in the United States, Brazil, China, Japan, Korea, Mexico, and Spain. For additional information visit www.pettersgroup.com.

CONTACT:
Tony Priore
773.272.5000
anthonyp@ubid.com