CESAREA, Israel, March 7, 2005 (PRIMEZONE) -- InterAge Ltd. (Pink Sheets:ITGJ), a leading provider of integrated web marketing solutions, announced today that it is participating in a fourth and final bid for the joint development of a revolutionary business to business (B2B) search engine with an Italian company.
In a strategic move to deepen the Company's activities in the European market, InterAge is participating in the final stages of a joint project proposal with the Israel-Italy Program for Industrial, Scientific and Technological Research and Development Cooperation. When the funding is approved, InterAge and their Italian counterpart will share in 50% funding of the 6 Million Euro budget that is to be paid back from royalties of the project.
InterAge will be developing a new B2B search engine that offers business users the ability to search solely for buy and sell offers of products and services, according to their specific preferences. The advantage of such a system is in its ability to draw on information from all applicable web sites, and present only that information that is relevant to the search term for buying or selling. This is distinctly different from standard search engines that provide search hits on any and everything regarding a key word search, even if it isn't related to commerce.
"We welcome the opportunity to participate in such a pioneering and far-reaching project," says CEO of InterAge, Kobi Freund. "Not only will this project allow us to develop a unique tool that can become the focal point of on-line business trade, but this offers InterAge an additional entree into the European marketplace, following our work in the Virtual Memorial Project for the European Market."
About InterAge
InterAge Ltd., established in 1994, specializes in providing a comprehensive business and marketing approach to web marketing. The company operates under the trade name of ID-Knowledge and offers unique marketing design, development, and advanced web marketing technology to give clients an integrated web marketing solution. These solutions include, formulating marketing concept and strategy, market research, managing email marketing, search engine optimization, and web design.
For more information, please contact kobi@id-knowledge.com or visit us on the Web at http://www.id-knowledge.com
Forward-Looking Statements
Certain statements in this news release may contain "forward-looking" information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.