NEW BERLIN, Wis., July 28, 2005 (PRIMEZONE) -- International Monetary Systems, Ltd. (IMS) (OTCBB:INLM), a worldwide leader in business-to-business barter services, announced today that it has signed a definitive agreement to acquire the assets and client base of International Barter Network Corp., New York, NY.
"This is a very important strategic move for our company as we enter the 'Big Apple.' IMS will be able to offer a number of premium and exclusive goods and services to our customers throughout North America. This also marks a special time as we have expanded, now with offices in four of America's major financial centers -- namely New York City, Chicago, Los Angeles and Washington, D.C.," said Don Mardak, CEO of International Monetary Systems, Ltd. "As founder and head of the International Barter Network, Doreen Stahl has really done a tremendous job of building one of the most versatile exchange companies in the industry. That's why our announcement today is so important."
"From video production services, custom Web site design companies, limousine services and Broadway shows to fine dining restaurants, outdoor advertising and art galleries, International Barter Network has been one of New York City's leading sources for barter exchange services," said Stahl. "The opportunity to become part of a large organization such as International Monetary Systems will be very beneficial for all of our local customers."
During the last three months, International Monetary Systems purchased Barter Business Unlimited, Newington, CT, Eagle Barter Exchange, Chattanooga, TN and United Trade Network, Reno, NV. The International Barter Network Corp. transaction is contingent upon IMS satisfactorily concluding the final steps in its due diligence process.
About International Monetary Systems, Ltd.
Founded in 1989, International Monetary Systems, Ltd. (IMS) serves more than 8,500 customers representing 14,000 cardholders in 31 markets in the United States. Based in New Berlin, WI, IMS is one of the largest publicly traded barter companies in the world and is continually expanding its exchange locations. The company's proprietary transaction network enables businesses and individuals to trade goods and services throughout North America. Using an electronic currency known as trade dollars, IMS exchanges allow companies to create cost savings and to improve operations by taking advantage of barter opportunities in their business models. Managed by seasoned industry veterans, IMS is a recognized member of the National Association of Trade Exchanges and the Barter Association National Currency. Further information can be obtained at the company's Web site at: www.internationalmonetary.com.