LORE Technology, L.L.C. visits the People Republic of China

Electronic Commerce Opportunities

BEIJING, CHINA, October 18, 1997 -- Loretta Ellison, President of LORE Technology, recently returned from China where she was exploring opportunities for electronic commerce. Her observations are summarized below:

Electronic Financial Systems are not well developed nor are they in wide use, as yet. Automated Teller service is provided on a local basis only. Eventually ATM and other Electronic Commerce services will go both national and international. It is expected that the local groups, which are limited today to large cities and the newly emerging western style industrial and business centers, will link up to form a network. This network will be a step that facilitates the development of electronic money transfers which in turns fuels development and also makes it easier for foreigners to do business in China. Tourist will also benefit. Of course, China does not have to look but to Hong Kong to acquire the technology it needs in this area. No doubt the creative Chinese will soon come up with electronic financial service offerings that will be the envy of the world. In terms of sheer volume and relative lack of competition, financial institutions that quickly embrace technology in China will soon be among the world's giants.

It is the practice of LORE Technology to look to the international arena for business opportunities. LORE Technology continually researches the electronic financial worlds of Hong Kong, Australia, Thailand, and Indonesia to identify business opportunities.

LORE Technology, L.L.C. is a San Francisco Bay Area company providing electronic commerce consulting services to the Financial Services Industry.