BARTERCARD trading Reaches Record $200M

News Release 16 June 2009

BARTERCARD trading Reaches RECORD $200M

Bartercard New Zealand has reached a major new milestone. Member companies have now traded goods and services worth an unprecedented 200 million trade dollars* through the exchange in the current financial year (ending 30 June).

CEO Paul Bolte says this means members have saved themselves 200 million dollars cash by using Bartercard.

Bartercard trading has grown in 16 of the 17 years since it began business in New Zealand in 1992.

"Such sustained growth confirms Bartercard's credentials as an effective business tool throughout the business cycle," Mr Bolte said.

"In fact, we believe the opportunity Bartercard provides to businesses is significantly untapped and, despite current business conditions, expect the exchange to continue to grow in the years to come”, he said.

Bartercard New Zealand has more than 6,500 member businesses. It aims to increase their profits, bring them new customers and improve their cash flow.

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* Note: Trade dollars are to all intents and purposes the equivalent of normal New Zealand dollars, the only difference being that they can only be used within the Bartercard system. They are treated exactly the same as cash dollars for accounting and taxation purposes.

ENDS

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