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August 30, 2002 * Global Trust Bank Ties up with Avenues

CCAvenue is proud to announce the GLOBAL TRUST BANK- AVENUES tie-up whereby GTB iBank Net Banking customers will now be able to pay for CCAvenue appointed merchants goods and services by directly debiting their GTB Net Banking accounts. Global Trust Bank is a technology driven bank with its vision set for the future and is one of the fastest growing banks in India.

About Global Trust Bank
Global Trust Bank is a technology driven bank with its vision set for the future. The Bank, with a very strong Top Management Team (Ranked # 2 by Business World, Oct 2000 and the # 1 Best Bank by Financial Express -Bank Survey Feb 2001), is managed by Professional Bankers. The Bank has been creating records of sorts, even before it started operations. At the end of 35 months the total business exceeded Rs.43.02 billion, making Global Trust one of the fastest growing banks in India

About Avenues
Avenues is a profitable, debt-free company and currently services thousands of eMerchants worldwide through its solutions www.CCAvenue.com, www.ResAvenue.com, www.EventAvenue.com, www.MembersAvenue.com, www.TrustAvenue.com, www.BpoAvenue.com. It is the largest integrated eCommerce solutions provider in South Asia. Avenues has shown revenue growth and profit growth consistently, year on year. Avenues is incorporated in India, and has offices in Singapore, Hong Kong, and USA. The Avenues support and development center is based in Mumbai, India. The total strength of the Avenues team is currently 120 personnel, spanning across all disciplines. For more information, log onto: www.Avenues.info