Public Relations Company

 
Public Relations Company  
 
MEDIA RELEASE 2 January 2007

BBX expands to Vietnam
ASX listed barter exchange company BBX Holdings Limited (BBX) today announced that a Heads of Agreement has been signed between its wholly owned subsidiary, BBX International Ltd. of Hong Kong and Peter Ngyuen, a Vietnamese national and major Australian property developer, to operate the BBX Master Franchise in the Democratic Republic of Vietnam.

BBX Managing Director Michael Touma said the parties have agreed on the terms and conditions to operate the BBX Vietnam trade exchange and a deposit has been paid to secure the franchise.

“BBX will hold a 20 per cent shareholding in the company established to operate the master franchise and receive a royalty from all income generated in both cash and trade dollars,” Touma said.

“We expect that significant quantities of Vietnamese produced goods will be available to be sourced by all BBX International franchise members and that trade credits will be used by the Vietnamese suppliers to make investments in real estate on the east coast of Australia,” he said.

Touma said that the balance of the franchise fee of US$250,000 will be paid on the execution of the Master Franchise Agreement.

“This franchise is the third completed in Asia for BBX along with China and India and negotiations with respect to Mexico are at an advanced staged,” Touma said.

“We are optimistic that very shortly, BBX will have franchises in all of the 'low cost' producing regions in the world,” he said.

BBX has taken significant steps to convert its unique internet-based cashless trading platform into Chinese. Eventually, members from any country will be able to select which language they wish to use when transacting with BBX.

BBX currently has applications or enquiries for franchises in Portugal, Kuwait, Costa Rica, West Africa, Fiji, Iran, Indonesia, Saudi Arabia, the Philippines and the United States.

BBX is a membership-based trade exchange. A trade exchange uses trade dollars, which have par value with the local currency, to assign value to the transactions that take place between members. The exchange acts as the third party facilitator and record keeper and issues members with monthly statements showing the purchases and sales they have made during the month.

The company also offers a broader range of financial services in areas such as mortgage broking, insurance, business finance and financial planning through BBX Financial Advisors and BBX Money.

BBX has a substantial membership base in Australia, New Zealand, India and China making it one of the largest reciprocal trade exchanges in the world. Members in Australia and New Zealand transacted $146 million in trade for the 2006 financial year.

The company is Australasia’s first and only publicly listed trade exchange manager and listed on the Australian Stock Exchange in 2005.
In September, BBX announced a record net profit after tax of $1.080 million. This represents an increase of $825,000 or 323 percent over the previous year.

BBX can be contacted on 1800 222 229. The website is www.ebbx.com.

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Released for BBX by Dennis Rutzou Public Relations.
For further information contact Fiona Pennington or Louise Wesolowski on +61 (2) 9413 4244.



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