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FOR IMMEDIATE RELEASE
L.R. Barker & Co.
Bid4Assets.com To Participate in FDIC Online Loan
$12 million pool of home equity loans being sold on Bid4Assets.com
SILVER SPRING, Md., Sept. 19, 2000 -- Bid4Assets.com, the online marketplace for
buying and selling high-value, distressed assets from financial, government and bankruptcy
sources, today announced that it has been selected to participate in an online loan sale pilot
being conducted for the FDIC. The loan sale includes a $12 million pool of home equity loans
being sold by the FDIC as agent for Goldome Credit Corporation.
Bid4Assets.com, which has listed more than $1 billion of assets for auction, is the
leading Internet auction marketplace for high-value, distressed assets in multiple categories
including financial instruments, real estate, intangible property and personal property. The
company's secure online trading solution creates a special assets community and single, full-
service marketplace from what is currently a fragmented and regionally focused industry.
Government professionals and other sellers benefit from immediate access to Bid4Assets.com’s
global pool of qualified buyers. Buyers of distressed assets can simplify the acquisition process
by buying online, saving hours and dollars formerly spent at public outcry auctions.
Bid4Assets.com was one of two firms selected by the FDIC to participate in this pilot.
Traditionally, the FDIC has sold loan pools through sealed bid, offline auctions. This loan sale
will be held online on October 25, 2000. Bid4Assets.com will have due diligence available
online as well as in hardcopy form. Due diligence materials are available at
www.bid4assets.com/loansale. In addition, a document room will be established in the FDIC’s
Dallas office. Interested bidders mus