SOURCE: CityXpress Corp.

July 10, 2006 07:00 ET

CityXpress Extends Event Auction Program Into Latin America, Spanish-Language Markets

CityXpress to Conduct First Auction With El Tiempo of Bogota, Colombia in July

VANCOUVER, B.C -- (MARKET WIRE) -- July 10, 2006 -- CityXpress Corp., a leading developer of revenue-generating products and programs for newspapers and broadcast media, today announced the signing of its first Latin American and Spanish-language event auction customer, El Tiempo of Bogota, Colombia.

The 10-day auction, "La Gran Subasta El Tiempo," is scheduled for July 23-August 2. El Tiempo is Colombia's largest newspaper, with more than three million readers on weekends.

"We are delighted to be the pioneers for this program both in Latin America and among Spanish-language publications, and have been very pleased with what CityXpress has been able to deliver," said Luis Fernando Santos, president of El Tiempo. "The event auction program is an exciting way to create new revenue and advertisers for our publication, and we are looking forward to bringing this program to our readers and our community."

The announcement also launches CityXpress' plans for expansion in Latin America and other Spanish-language markets, which offer potential new customers for the company's products, said Phil Dubois, president and CEO of CityXpress.

"Event auctions are a proven way for newspapers to generate new revenue and attract new advertisers regardless of a newspaper's country, language or circulation," Dubois said. "Latin American and Spanish-language markets in general have vibrant newspaper communities that present new opportunities for CityXpress."

More than 400 Spanish-language daily newspapers are published in the U.S., Latin America and elsewhere, according to CityXpress estimates. CityXpress currently conducts event auctions with newspapers across North and South America, the United Kingdom, Ireland, Sweden, Germany, Austria, Switzerland, Australia and New Zealand. The company held its first newspaper event auction in 2002 and since then has staged more than 550 event auctions generating more than $140 million for newspapers.

Newspaper auctions are online events staged by newspapers with goods and services provided by local retailers in exchange for exposure through the auction and advertising credits that are earned if the retailer's items sell. Auctions typically take place during a 10-day period. They help newspapers attract new advertisers and generate incremental revenue from existing advertisers, while boosting in-store traffic for vendors and producing good deals for consumers.

About CityXpress Corp.

CityXpress Corp. (www.cityxpress.com) is a leading developer of revenue-generating products and programs for newspapers and the broadcast media. Founded in 1999, CityXpress works with clients across North and South America, Europe and Australasia to stage local event and continuous auctions, as well as develop online classified marketplaces. CityXpress provides its customers with its hosted software, sales training programs, and customer support services. The company currently provides services to newspaper companies including Knight Ridder, MediaNews Group, McClatchy, Gannett, Lee Enterprises, Scripps, the New York Times Company, the Tribune Company, CanWest, the Northcliffe Newspapers Group and Fairfax. Headquartered in Vancouver, British Columbia, CityXpress maintains an international office in London.

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