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eORBIS.COM Completes Venture Capital Financing, Hires CFO
Signs Letter of Intent for Next Round of Financing

(SAN ANTONIO, TX) eOrbis.com announced today that it has closed a $2.5 million round of venture capital financing and that it has signed a Letter of Intent for an additional $15 million round. The lead investor in the recently closed round was AJG Financial Services, Inc., the investment arm of Arthur J. Gallagher & Co. (NYSE: AJG), a leading U.S. insurance broker.

"AJG Financial Services is pleased to be the lead investor in this round of financing with eOrbis.com," said Michael J. Cloherty, Chief Executive Officer of AJG Financial Services. "We invested in their previous venture capital financing in November 1999, and are delighted with the tremendous progress that the Company has demonstrated since our initial involvement."

The new Letter of Intent has been executed with Fine Equities, a New York City investment bank. Fine Equities has played a key role in the financing of numerous early-stage high technology firms. "We are looking forward to working with eOrbis.com on this next round of equity funding," stated Scott Fine, CEO of Fine Equities. "Their web site has a number of advanced features, and their growth in listings of items for auction is outstanding. We are also impressed with their success in obtaining strategic alliances for their bilingual Spanish/English site."

The Company also announced the hiring of Dan Hair as its Chief Financial Officer. Dan has over 25 years of experience in financial management, including high technology firms, and has played a key role in initial public offerings and investor relations with public high technology firms.

eOrbis.com, based in San Antonio, Texas, is the premiere multicultural auction site bringing buyers and sellers together across borders. The Company opens a world of new and exciting shopping markets for consumers and expands business and money-making opportunities for sellers. eOrbis.com provides a multilingual e-commerce environment backed by secure transactions, international shipping and a network of qualified buyers and sellers all over the world.