SOURCE: The OLB Group

July 10, 2007 10:30 ET

OLB Group and Auction Mojo, Inc. in Negotiations With International Shipper

Discounted Domestic Shipping Services Enhance Competitive Advantage

NEW YORK, NY--(Marketwire - July 10, 2007) - OLB Group (PINKSHEETS: OLBG) and Auction Mojo announced today that the companies have entered into negotiations with a large international shipper to provide domestic and international shipping services for the expanding Auction Mojo franchise.

Michael Cohen, Chief Operating Officer for OLB Group's new wholly owned subsidiary, noted, "As our exclusive domestic and international shipping partner, we can offer discounted domestic shipping services, not only for items sold through Auction Mojo, but also for the expanding OLB portal."

"This strategic partnership will offer services similar to those of the UPS Store franchise at a lower unit and higher profit margins. Utilizing their logo colors in our signage and advertising will boost foot traffic and public awareness for both entities."

The shipping center will be a professionally staffed section within the Auction Mojo retail location and include:

--  Point of Sale (POS) automation system to process shipments.
--  Provide packaging and shipping services to the general public.
--  A local drop site that will provide the shipping company's existing
    accounts a convenient location to leave their packages or express letters
    thereby increasing foot traffic and the visibility of the Auction Mojo
    business model.
    
Auction Mojo anticipates that they will convert their existing locations to incorporate the shipping center within the next 3 months.

The OLB Group, Inc. recently signed a Letter of Intent to acquire Auction Mojo, an eBay retailer. The acquisition is forecasted to realize $1 million in revenue in the next twelve months with expansion to another 8 locations that have a potential growth of $5 million in revenues, and a positive cash flow is on target. The company anticipates closing the transaction before the end of the third quarter.

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About The OLB Group

The OLB Group is an e-commerce service provider that delivers fully outsourced private label shopping solutions. We provide our clients with a seamless, end-to-end e-commerce solution, including site creation, hosting, transaction processing, order fulfillment, customer service, sales reporting, as well as a virtual inventory of name-brand products from top-selling categories on the Internet. Our private label shopping site is designed to maintain the unique look and feel of our customer's website, providing seamless e-commerce functionality that keeps users on the shopping site at all times. Order fulfillment and customer service are also provided under the brand names of our clients. We remain invisible to the consumer. Our e-commerce platform also enables our clients to create their own online marketing promotions and to customize product content to meet the needs of their online users. Our turnkey online shopping solutions include ShopFast PC (profit center) http://www.shopfast.com and "ShopFast Direct Shopping Database" or "ShopFast DSD." http://www.shopfast.net For more information, please visit http://www.olb.com

Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. The OLB Group, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies.

Contact Information

  • Contact:
    Ronny Yakov
    The OLB Group, Inc.
    (P) 212-278-0900
    email: Email Contact