Gunbroker.com Launches Online Firearms Auction Site

Business Wire, April 5, 1999

ATLANTA--(BUSINESS WIRE)--April 5, 1999--GunBroker.com, a unit of WebVentures, Inc., announced today the successful launch of the firm's firearms auction site at http://www.gunbroker.com.

Using the GunBroker.com auction site, registered users may buy and sell guns, air guns, archery equipment, and gun accessories such as holsters, scopes, ammunition, and reloading equipment.

Contrary to the impression given by companies such as eBay (Nasdaq:EBAY), and Amazon.com (Nasdaq:AMZN), there is nothing illegal or improper about the sale of firearms over the Internet. According to documents posted on the Web by the Federal Bureau of Alcohol, Tobacco, and Firearms (ATF), an unlicensed buyer "may order a firearm from an out-of-state source and obtain the firearm if an arrangement is made with a licensed dealer in the purchaser's state of residence for the purchaser to obtain the firearm from the dealer".

To assist in the transfer of firearms in accordance with all Federal, state, and local laws including the Brady Law, GunBroker.com maintains a list of Federal Firearms License (FFL) holders. These FFL holders have committed to assist buyers in receiving their firearm purchases while ensuring strict compliance with the law.

"Response to our site has been overwhelming. The message is clear: users want an online venue through which they may legally buy and sell firearms." said Kim Richardson, president of GunBroker.com. "Our tough stance on illegal activity combined with easy access to our network of FFL holders helps to ensure that all transactions will be handled within the law."

The company web site, www.gunbroker.com, was designed to provide a unique and rewarding auction experience incorporating the positive features and benefits of other auction sites such as eBay (Nasdaq: EBAY), uBid (Nasdaq: UBID), Onsale (Nasdaq: ONSL), Amazon Auction (Nasdaq: AMZN), Excite Auction (Nasdaq: XCIT), Shop At Home (Nasdaq: SATH-news) and Yahoo Auction (Nasdaq: YHOO). GunBroker.com provides additional value-added services to its registered user base in the form of chat boards, want ads, and an in-house escrow service.

About WebVentures, Inc.

WebVentures, Inc. is headquartered in Atlanta, Georgia and develops and markets Internet-based e-commerce solutions. For more information, visit the company's web site at http://www.gunbroker.com.