Public Relations Company

 
Public Relations Company  
 
MEDIA RELEASE 10 May 2007

Australian trade exchange BBX moves into Costa Rica
Australian trade exchange BBX Holdings Ltd (BBX) has signed a Heads of Agreement in Costa Rica, adding to its fast growing international presence.

The Costa Rica agreement was signed between BBX International Ltd Hong Kong (BBXI), a wholly owned subsidiary of BBX Holdings and Ms Silvia Jacobo and Ms Maria Amalia Jacobo, to operate the Master Franchise in Costa Rica and the wider Central America region. The franchise will operate through the newly formed BBX Central America SA (BBXCA). The parties have agreed to the terms and conditions and a deposit has been paid to secure the franchise.

Managing Director of BBX Holdings, Michael Touma, says the new international venture will greatly benefit businesses in Costa Rica and Central America.

"We're confident that the BBX Master Franchise will complement and promote economic development because Costa Rica is certainly the strongest country economically in the Central America region," Michael said.

"The BBXCA Master franchisees are very passionate about the concept of barter. They saw it operating in Lebanon and were very impressed with how it works.

"The franchise will be run by five family members, some of which own a successful franchise network called Get Nuts, which has about 70 outlets operating throughout Central America and Mexico.

"The initial strategy for the franchise will be to establish a strong presence in Costa Rica by building the profile of the business and signing up new BBX members, with the longer term goal of setting up local and regional franchise offices," he said.

BBXI will have a 20% shareholding in BBXCA and appoint at least one non-executive director to its Board. BBX will receive on-going royalties from the income generated by the new joint venture company, which is expected to be operational before the end of the year.

BBX already operates international franchises in New Zealand, India, and China and is in the process of converting its Internet based cashless trading platform into a multi lingual format for Costa Rica, as it has done previously for the China franchise.

BBX successfully listed on the ASX in August 2005 to become the only publicly listed barter exchange managers in the world to be listed on a main board. It is a membership based trading program whose primary role is to generate new business for all types of businesses and to show business owners how to offset many current cash expenses by utilising the down time or idle inventory in their business.

The trade exchange uses BBX currency, which has the same value as Australian currency, to assign value to the transactions that take place between member businesses. In essence, the exchange acts as the third party record keeper, similar to a bank, and provides a sophisticated bartering market where thousands of transactions take place.

The company also offers a broader range of financial solutions in areas such as mortgage broking via BBX Money, including leasing, business finance and general loans in both cash and BBX dollars, financial planning through their latest initiative, BBX Financial Advisers, and property services through BBX Real Estate and its NSX-listed Property Investment Fund (www.bbxpropertyfund.com.au).

BBX has offices and/or franchises situated throughout Australia and operates in both islands of New Zealand. Member businesses in these two countries traded in excess of $146 million in the financial year ending 30 June 2006, averaging over $33,000 per active member business.

BBX can be contacted by phoning 1800 222 229 or visiting the website www.ebbx.com. BBX Money can be contacted by phoning 1300 200 BBX (1300 200 229).

Released for BBX by Dennis Rutzou Public Relations (www.drpr.com.au)
For further information please call Aleks Czerwinski or Teanne Ryan on (02) 9413 4244.

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