News Release

For Immediate Release: December 03, 2002
Contact: Brooke Hilton, WineBid.com, bhilton@winebid.com, or (206) 320-1217 x263

WINEBID.COM® PURCHASES BARREL AT THE 2002 HOSPICES DE BEAUNE FOR ONLINE AUCTION

Napa California: WineBid.com, the premier Internet auction of fine and rare wines, has purchased a barrel at the 2002 Hospices de Beaune Wine Auction. WineBid.com bought a barrel of Corton Docteur Peste Grand Cru Burgundy in partnership with Maison Louis Jadot, the internationally admired Beaune négociant. The Hospices de Beaune auction, now in its 142nd year, is the oldest charitable wine auction in the world. This marks the second year in a row that WineBid.com has participated in this auction, which benefits a 558-year-old Beaune charity hospital.

"At WineBid.com our goal is to offer rare and hard-to-find wines to our customers," said Jerry Zech, WineBid.com's Chief Executive Officer. "Throughout 2002 we successfully sold all futures for the barrel we purchased in 2001, and look forward to offering 2002 futures to our customers next year." Hospices de Beaune represents traditional French wine making and Hospices de Beaune is the world's most historic wine auction. By participating WineBid.com is offering our customers access to fine Old World wines through 21st century online auctions.

The barrel will be aged and bottled by Louis Jadot and will result in nearly 300 750ml bottles of Grand Cru Burgundy, all of which will be sold through WineBid.com's online auction. Starting in January 2003 Winebid.com will sell futures of the Burgundy, which is expected to be ready to ship by year-end 2004. Small quantities of the futures will be released for auction periodically during the next 18 months.

Founded in 1996, WineBid.com is the largest online auction for rare and fine wines with more than 22,000 registered bidders. At WineBid.com each bottle of wine consigned is appraised and inspected.

For more information, visit our website at www.winebid.com or call (888) 638-8968.