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ereorg and Mitsubishi Form Joint Venture

17 February 2000

ereorg and Mitsubishi Form Joint Venture to Introduce Internet Debt Trading System to Japan

              $600 Billion Distressed Bank Debt Market Targeted

    NEW YORK and TOKYO, Feb. 17 -- ereorg.com, Inc.
(http://www.ereorg.com) today announced that it has formed a joint venture
with Mitsubishi Corporation to introduce ereorg's institutional online debt
auction system to the Japanese market.  The ereorg system enables users to buy
and sell debt in the secondary market in an anonymous and secure environment
while significantly reducing transaction costs and settlement times.
    The Japanese secondary bank debt market presents a significant opportunity
for ereorg.  Japanese distressed bank debt is estimated to exceed $600
billion.  Bank debt as a percent of GDP is nearly 100%, compared to 40% in the
U.S.  Furthermore, as the Japanese economy recovers, the primary loan market
is expected to grow rapidly.  This trend is evidenced by the aggressive
expansion in Tokyo of the corporate lending groups of U.S. and European
commercial and investment banks.  ereorg will be well positioned to capitalize
on the corresponding increase in secondary par loan trading.
    "ereorg is fortunate to have Mitsubishi as a partner in Japan.  Mitsubishi
is a world class institution with over fifty years of experience and
relationships in global trading markets," stated Ronald DeKoven, Chairman and
Chief Executive Officer of ereorg.  DeKoven added, "Given the vast size of the
Japanese debt market and the demand for portfolio restructurings, we have
extremely high expectations for ereorg in Japan."
    Announcing the joint venture, Yuji Komiya, General Manager of Mitsubishi
Corporation's Merchant Banking Department, stated, "we believe that ereorg
will be an important catalyst to increase liquidity in the Japanese debt
markets.  By offering an anonymous channel for financial institutions to reach
a wide range of qualified buyers, ereorg will facilitate the efficient
exchange of debt products."
    In connection with the joint venture, Mitsubishi's U.S. merchant banking
arm, MC Capital Inc., invested in ereorg.  Commenting on the investment,
Shunichi Maeda, President and CEO of MC Capital stated: "ereorg has assembled
an impressive management team with extensive experience in financial services
and technology.  Mitsubishi believes that ereorg will transform global debt
trading markets.  In Japan, Mitsubishi and ereorg will work together to
introduce a full-range of debt trading products demanded by current market
conditions."  MC Capital has been an active Internet investor with investments
that include Wit Capital, Intertrust and e-STEEL.

    About ereorg.com, Inc.
    ereorg is a business-to-business e-commerce company which has developed
the first global, online auction market for trading an estimated $340 billion
of bank loans, trade claims and emerging markets debt.  ereorg has filed a
patent application to protect its trading process and business concept.
ereorg is a registered broker-dealer and member of the National Association of
Securities Dealers, Inc. (NASD).  The company itself will not buy, sell, or
own debt instruments.  Additional information on ereorg is available at
http://www.ereorg.com.

    About Mitsubishi Corporation
    Mitsubishi Corporation is one of the world's largest and most diverse
enterprises, operating principally as a general trading firm.  Based in Tokyo,
the company's more than 11,000 professionals serve clients through a global
network of nearly 50 offices in Japan and 200 offices overseas.  Mitsubishi
has a wealth of experience in creating new markets, introducing innovative
technology, and building relationships.  Additional information on Mitsubishi
Corporation is available at http://www.mitsubishi.co.jp.