News Release

For Immediate Release: November 14, 2000
Contact: Brooke Hilton, WineBid.com, bhilton@winebid.com, or (206) 320-1217 x263

WINEBID.COM ANNOUNCES NEW CEO

Napa California: The board of directors of Winebid.com announced today that Jerry Zech, Managing Director of The Walter Group, will assume responsibility for day-to-day operations of Winebid.com as its Chief Executive Officer. The Walter Group, the lead investor in Winebid.com, is a private equity group specializing in investments in wireless, Internet and related technologies.

"We are very excited about Winebid.com because it is a business model that works on the Internet," said Zech. "In the past, it was difficult for most people to participate in an auction for fine wine," Zech added, "but with Winebid.com, you take part in a live wine auction from your own home." Prior to joining The Walter Group, Zech was President, CEO and a founder of Supreme Corq, Inc., the world leader in production and sales of synthetic closures for wine.

As a part of this management change, Oren Michels, President and Chief Operating Officer, will be resigning from his current role but will remain an advisor to the company. "Oren helped guide the company during its rapid growth over the last two years," said Chuck Parsons, chairman of the board, "and we wish him the best in his new business ventures."

Founded in 1996, Winebid.com is the largest on-line auction site for rare and fine wines. Winebid.com maintains worldwide inspection facilities where each bottle of wine auctioned on-line is appraised and inspected. For more information visit us at www.winebid.com or call 707-226-5893.