DeRemate.com Announces the Arrival of Its E-Commerce Site in Puerto Rico

Business Wire, Jan 10, 2001

Business Editors/Technology Writers

MIAMI BEACH, Fla.--(BUSINESS WIRE)--Jan. 10, 2001

To begin the New Year, DeRemate.com-the leader in the online commerce arena in Latin America and for the US Hispanics-has arrived in the Puerto Rican island.

DeRemate has arrived to offer Puerto Ricans a new way to buy and sell products from their own houses. "We have arrived so that Puerto Ricans can become a part of the huge DeRemate community and can buy and sell online through our auction format", said Carlos Faria yesterday. Carlos is the General Manager for DeRemate.com for the Andean region and the United States. "We are very proud to be in Puerto Rico and to be able to give Puerto Ricans the possibility of buying and selling within a huge marketplace, Puerto Rico and USA", he added.

DeRemate's launch in Puerto Rico is proof of how important a role does the Puerto Rican expanding online community plays in the Internet and e-commerce world. For Puerto Rico, DeRemate's arrival brings advantages in the strength of electronic commerce in the region and in the possibility of making good business over the Internet.

About DeRemate

DeRemate, (www.deremate.com) and (www.arremate.com) in Brazil, is the largest and most popular trading community on the Internet in Latin America, which allows its users to sell and buy products and services through its technological interactive platform. DeRemate was founded in August 1999, has a staff composed of 200 professionals and presently operates in: Argentina, Brazil, Chile, Colombia, Mexico, Peru, Uruguay, Venezuela, United States and now Puerto Rico.

So far DeRemate has received financing for US $60 million from strategic and financial investors, including Citigroup Venture Capital, Merrill Lynch, e-Quest, Texas Pacific Group, SLI Investments and Terra Networks. DeRemate is the exclusive channel of online auctions of Terra Networks and T1MSN (Microsoft and Telmex), among others.

DeRemate has more than 1.5 million registered users and is the only site in its category in the region that audits and publishes audit results. According to the activity report prepared by I/PRO, DeRemate.com registered 5.2 million visitors and registered 29.5 million requested pages per month. More than 275,000 transactions have taken place in DeRemate producing gross merchandise sales in excess of US$ 50 million.