PALM BEACH GARDENS, Fla., Dec 19, 2002 (BUSINESS WIRE) -- eCom eCom (ECEC) , a publicly traded company with more than six thousand shareholders, has weathered the fallout from the dot com collapse by overhauling its business model, controlling costs and concentrating on profitability.

The Company began planning for its transformation from an e-commerce business to a software marketing company well before the economy's downturn. "We saw the signs before most other e-commerce companies and put together a plan to not only survive but emerge stronger," said David J. Panaia, CEO of eCom eCom.

"We paid a high price for our new business model," said Panaia. "We sacrificed revenues from our sports manufacturing division and our common stock share price dropped due to market conditions and loss of investor confidence."

The Company cancelled almost all of its existing partnerships and teaming agreements. It settled all legal actions including reaching a fair and amicable resolution of a business dispute with Impact Imaging Inc. earlier this week.

During the past few years, eCom eCom sold its sports marketing division, scaled back its manufacturing operations, downsized its full-time employees and consultants, dramatically cut its operations and overhead and focused on its new core business: software development and marketing.

The first software development venture focused on image compression. Through an agreement with MT Wice, eCom eCom developed MyPhotoZip(TM) (MPZ). MPZ is a marvelous breakthrough software that can compress large image files at ratios of 1000:1 and higher without information loss. While MPZ is a benefit to any computer user, the Company's target market is Internet users who operate with less than a broadband connection. Most of the world's Internet users still use dial-up connections and they are increasingly frustrated with the long wait to transfer large photo files. MPZ facilitates very fast online transfers of large photos. In addition, it reduces the image file size thus using less storage. eCom eCom has initiated a sales strategy to market MPZ worldwide.

Due to the country's increased emphasis on homeland security, the Company has accelerated its development stage and now is ready to deliver a special version of MPZ for the Air Force Space Command and other governmental agencies. "Through our talks with NASA, we know that the federal government is extremely interested in reducing bandwidth costs and increasing storage capabilities," said Panaia. "MPZ Pro does just that!"

In addition, eCom eCom is currently developing several other programs such as an application that will make the digital camera more fun.

eCom is optimistic about its long-term growth potential. The Company is also searching for software applications, as well as business entities that would be prime candidates for acquisition or merger. It believes that this is the best method to stimulate rapid growth in revenues and profit, which in turn will provide the foundation for significant growth in shareholder value.

This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from those discussed in such forward-looking statements.

Contact:
eCom eCom, Inc.
David J. Panaia, 561/622-4395
dpanaia@ecomecom.net


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