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Nafta Trading Inc. Announces new Chairman and Private Placement Financing

31 May 2000

Nafta Trading Inc. Announces new Chairman and Private Placement Financing

    CALGARY, May 31 /CNW-PRN/ - Nafta Trading Inc. (the "Corporation"),
(CDNX: NTA) today announced that it will not be moving forward with a contract
with Chell.com Strategic Bank. Also announced today, the Corporation's Board
of Directors unanimously approved the appointment of Frank Killoran, an
existing director of Nafta Trading Inc. as Chairman. Mr. Killoran is the
Managing director of ASPbridge a merchant bank servicing the ASP industry.
ASPbridge is a member of the Chell.com group of companies. Mr. Killoran's
first duty as chairman was to announce that Nafta Trading Inc. has entered
into an agreement with the VC Advantage Fund, a strategic investment fund for
the new economy, to complete a private placement offering (the "Offering") of
1,500,000 common shares at $1.00 per common share or $1,500,000. This
financing is in addition to the $589,000 private placement announced on March
24, 2000.
    The Corporation also announced that it has entered into an investment-
banking contract with Thomson Kernaghan & Co. Ltd. to provide strategic
banking services, including advice on mergers and acquisitions, strategic
alliances and financial consulting. Thomson Kernaghan is a Toronto-based
investment banker and brokerage firm.
    "This is an exciting time for Nafta Trading Inc.," said Mr. Killoran.
"With this additional financing and investment banking relationship we feel
that we can grow our business and move with increased momentum down the path
of expanding our unique global auto services via an ASP (Application Service
Provider) model."
    The Offering and above noted items are subject to the negotiation of
definitive agreements, and approval from the Canadian Venture Exchange.

    About Nafta Trading Inc.

    Nafta Trading Inc. provides services to franchised automobile dealers in
the United States and Canada by acting as an international intermediary to
locate and redistribute automobiles. As well, the Corporation provides
complete channel management services, resolving the details, eliminating the
obstacles and facilitating the process associated with buying and selling
automobiles between countries.

    THE CANADIAN VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
    RESPONSIBILITY FOR THE ADEQUACY AND ACCURACY OF THIS RELEASE