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PRNewswire: LinuxMall.com, EBIZ Agreement Takes Alternate Route to IPO

May 24, 2000, 20:10 (0 Talkback[s])

"LinuxMall.com Inc. and EBIZ Enterprises Inc. (OTC Bulletin Board: EBIZ) announced today both parties have executed a letter of intent (LOI) to merge. The merger of LinuxMall.com and TheLinuxStore.com, a division of EBIZ Enterprises, will position the combined entity as the largest vendor-neutral Linux shopping mall and destination on the Internet. The resulting company will offer the most comprehensive selection of Linux products and solutions, information and services. The companies' combined prior fiscal year revenues were more than $25 million."

"Dave Shaw, CEO of LinuxMall.com added, "Before the agreement, our company was in the process of filing an IPO. When the opportunity of aligning the two largest Linux companies was presented by Chase H & Q, the strategic value of the merger greatly outweighed the IPO route. It also allows us to reach our market more quickly than if we had remained a stand-alone company."

"Jeffrey Rassas, EBIZ CEO and founder, said the merger brings together the management infrastructure and financial resources to help lead the movement toward commercial acceptance of Linux. "This is a move that makes sense for both organizations and the continued growth of Linux," explained Rassas. The resulting company will have 112 employees and offices in Aurora, Colo., Phoenix, Ariz., Minneapolis, Minn., Kansas City, Kan., and an international distribution center in Amsterdam."

Press Release