St. Catharines, On - 31 May, 2005 -

The nation's largest retail barter company has just become larger. Tradebank Canada today finalized its acquisition of the Ottawa-based Canadian National Barter Exchange (CNBE). CNBE's 260 members located in Ottawa, Toronto, London and Grey Bruce, Ontario; in Calgary and Edmonton, Alberta; and in Gatineau, Aylmer and Hull, Quebec are now part of Tradebank. "The acquisition is part of Tradebank Canada's ongoing quest to revolutionize the Canadian barter industry," company president John Porter says. "Tradebank is developing a nation-wide network of trade franchises and is fast becoming the recognized name brand in Canadian trading. This is one more step along the way." CNBE was formed in September 2003 when Kim Patterson of Ottawa bought the Canadian operations of an American barter company. Prior to owning CNBE, Kim Patterson worked in the barter industry for 10 years. The acquisition has unfolded quickly since Patterson, Porter and Tradebank Canada vice president Ian Charnock began their discussions about a month ago. Patterson was receptive to relinquishing CNBE, in light of the competition from Tradebank. In selling her business to Tradebank, she had her members' best interests in mind, she says. "My members are going to be so much better off. Their dollar is going to have better value." In the Tradebank system, business owners can offer goods and services in exchange for trade dollars. They can then spend their trade dollars on a wide range of goods and services available within the Tradebank network. As part of Tradebank, former CNBE members will each have Tradebank franchise offices in their own geographical area, rather than a single head office in Ottawa. They'll have access to a much greater selection of goods and services available on trade, thanks to the much larger trading network. Patterson will join Tradebank in an operational capacity in order to ensure consistent service in the midst of the ownership change. "I look forward to being part of a team rather than having to manage all aspects of trade single-handedly," she says. She's been working from home instead of her office in recent weeks, in preparation for the change of ownership. Patterson, 39, says trade has come full circle, with trade networks replacing traditional one-on-one bartering. "More and more people are realizing that participation in a trade network is a smart way to do business," she says. Tradebank Canada is a wholly owned Canadian company based in St. Catharines, Ontario. Tradebank Canada currently has 15 franchise locations within Ontario and Alberta.

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