Jumbomall Heads of Agreement with Samsung Corporation Signed

Mar 30, 2000

Document date: Thu 30 Mar 2000
Published: Thu 30 Mar 2000 11:04:31
Document No: 133824
Document part: A
Market Flag: Y
Classification: Other  

JUMBOMALL.COM CORPORATION LIMITED                        2000-03-30          ASX-SIGNAL-G

HOMEX - Brisbane

Jumbomall.com Corporation Limited (Jumbomall) and the Samsung Corporation (Samsung) have signed a heads of agreement for a strategic alliance to deploy and market an Internet-based phone system to be called "Jumbo i2 phone".

The Jumbo i2 phone allows Internet users to talk to each other over the Internet at economical rates. A special handset similar to a normal phone is connected to a computer and two people can conduct a clear conversation. Furthermore, one party can "drive" the other through a web site by controlling their web browser.

"The Jumbo i2 Phone has great potential to accelerate and enhance sales in the Jumbomall. Our customer service people can now actually talk to shoppers worldwide and direct them to products and help them make the purchase," said Mike Veverka, CEO of the Jumbomall.

Under the terms of the agreement, the Jumbomall will receive a percentage of revenues from the sale of the Jumbo i2 phone. Samsung Corporation has agreed to joint market the product to the public. Furthermore, Jumbomall and Samsung have agreed to jointly explore further technological ventures.

"The Jumbo i2 Phone will also benefit our B2B strategy by allowing businesses to communicate with one another more effectively," said Mr Veverka.

The Jumbomall is a leading online shopping mall with over 3,800 merchants. The number of sales has grown 210 per cent in the 6 months to 31st December 1999 over the previous 5 months. The value of those sales has also grown 180 per cent over the same period.  

For further information

Mike Veverka
Tel: 07 3831 3705 (BUS)

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Tel: (02) 9231 0922 (Bus)
(02) 9569 0575 (Home)

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