GateTrade's global edible oil trading platform provides secure direct connections for commercial traders of agricultural products. The site provides an electronic intermediary to allow traders to buy, sell, and negotiate contracts and track orders in real-time.

SAN FRANCISCO, Calif. - November 6, 2002 - GateTrade, Inc., a leading electronic marketplace for agricultural products, today announced the completed development of an online interactive trading site. The site, which begins beta testing today through a secure Internet link, will provide a platform to facilitate transactions of palm oil and coconut oil, and their related products.

Ten agribusiness leaders have agreed to test the GateTrade marketplace during a one-month beta phase. "We are excited to enter the beta phase of our marketplace. The fact that so many leading companies will be participating in the beta testing of our site validates the fact that the industry has been waiting for our trading platform" said Dr. Susan Tan Luo, Founder, CEO and President of GateTrade.

The GateTrade site will provide its customers with a secure transparent marketplace that enables real-time matching, negotiation and trade reporting for agribusinesses. Other capabilities include cost effective trading, flexible order entry, secure and anonymous trading, real-time alert messaging and intelligent partial matching of buy/sell orders.

About GateTrade
GateTrade is a privately held company headquartered in San Francisco, California. GateTrade acts as an electronic intermediary to provide a secure, rich trading environment that directly connects buyers and sellers of agricultural products. GateTrade has built a global electronic marketplace to modernize agribusiness transactions by instantaneously reporting trades as they occur. The marketplace displays selling and buying ideas in a real time environment, which enhances the price discovery process. For more information visit www.GateTrade.com or call 415-771-6388.