Hollinger International Acquires Minority Stake in Leading Online Auction Bidhit.com

Business Wire, Dec 6, 1999

NEW YORK--(BUSINESS WIRE)--Dec. 6, 1999--

Hollinger International Inc. (NYSE:HLR), announces that they have purchased a minority stake in Bidhit.com, Inc. (OTCBB:BHIT), a rapidly growing online real time auction company.

As part of the financing Bidhit.com will receive $1 million US in advertising in Hollinger owned publications. Hollinger International Inc. is a New York Stock Exchange listed global newspaper publisher with English-language newspapers in the United States, UK, Canada and Israel.

As part of the agreement Hollinger will provide consulting services to Bidhit.com to advise and assist the Company in its international expansion and future growth.

Salman Partners Inc., a full service investment banker, serving institutional, corporate and individual clients, acted as financial advisor to Bidhit.com in this transaction.

"Our investment in Bidhit.com is a `first step'. We at Hollinger invested in the Company for a number of reasons; the senior management, the fact that it is a young and growing company in a marketplace we've identified as being important to our growth, the online auction segment, and the vision the Company has for the future," stated Mr. David Radler, Deputy Chairman, President and Chief Operating Officer of Hollinger International.

"Our agreement with Hollinger International represents a significant step forward in the development of our Company," states Mr. Tim Black, President and CEO of Bidhit.com. "This deal sends a strong signal to the financial markets and the online community in general that we are a serious competitor capable of accomplishing our goal of being in the upper echelon of online auction companies. Our access to Hollinger's considerable media presence both on and offline, provides the marketing strength to promote and build the Bidhit.com brand. Further, our consulting arrangement will enable us to develop new marketing models and mutual opportunities to grow our business."

About Hollinger International Inc.

Hollinger International Inc. is a New York Stock Exchange listed global newspaper publisher, with english-language newspapers in the United States, UK, Canada and Israel. Included among its 86 paid daily newspapers are the Chicago Sun-Times, The Daily Telegraph (London), The Ottawa Citizen, The Jerusalem Post and the National Post (Canada). In addition the company owns or has an interest in 273 non-daily newspapers as well as magazines and other publications.

Hollinger operates Web sites through all its major newspapers. Through its Hollinger Digital subsidiary, the company has also taken investment positions in various Internet-based companies. Hollinger Digital Inc. is the new media investment arm of the global newspaper publisher Hollinger International Inc. (NYSE:HLR). Hollinger Digital's portfolio of online investments includes Trip.com , the leading Internet travel reservations and information service for business travelers, the leading Canadian search engine canada.com, the leading UK finance and online share trading site Interactive Investor (www.iii.co.uk), and Topjobs.net, the leading UK-based Web site for recruitment advertising

About Bidhit.com

Bidhit.com is a real-time online auction company which differentiates itself from its competition by its strong customer care focus and philosophy. The company provides its more than 100,000 registered users with the opportunity to bid on quality brand name products in a number of sought after product categories such as computers and peripherals, camera equipment, sporting goods, household goods, home electronics and jewelry. Bidhit.com continues to grow through expanding its solid operational infrastructure, leveraging strategic marketing relationships and focusing on customer care and protection. The Bidhit.com experience includes pre-screened vendors, the safety of credit card buying, live online customer service, warranty protection and extended service plans. Bidhit.com will continue to leverage this successful strategy to reach its goal of building one of the leading online auction brands.

About the Online Auction Segment

According to Forrester Research, 52% of online business is expected to be transacted via auctions by 2002, (Reported in Business 2.0, June 1999). The success of online auction sites such as eBay,Inc. (Nasdaq:EBAY), uBid,Inc. (Nasdaq:UBID), Onsale Inc. (Nasdaq:ONSL) and Bid.Com International (Nasdaq:BIDS), has been well documented. Bidhit.com will be focused on growing its online auction presence in attracting and sharing the enormous audience for online auctions.

On Behalf of the Board of Directors,

Mr. David Radler, Deputy Chairman, President and COO of Hollinger

International

On Behalf of the Board of Directors,

Timothy J. Black, President and CEO Bidhit.com

`Safe Harbor' statement under the Private Securities Litigation Reform Act of 1995: This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.