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July 10, 2002 *The hottest new Value-add from IDBI: Tie up with CCAvenue!

July 10, 2002 IDBI Net Banking division of IDBI has tied up with CCAvenue.com, India's first neutral online payment gateway. This latest association will enable the account holders of IDBI Net Banking to shop on any of the hundreds of CCAvenue appointed merchants sites and pay online in realtime through their IDBI i-net banking accounts.

When shopping through CCAvenue, customers can now pay for their purchase in the Indian currency when buying from an Indian seller. This saves the Indian buyer valuable forex; and lets him to purchase in the currency he is most comfortable in; namely, Indian Rupees.

By tying up with CCAvenue, IDBI Net Banking has now made it so much easier for its customers to discover the true power and convenience of online shopping. IDBI Net Banking tie-up is the latest in CCAvenue.com's network of associates. The company's objective is to facilitate a medium that will help the Indian businesses and customers experience the full potential of online transactions. To this end, CCAvenue is focused on providing quality service and wide range of payment options to online shoppers.

"IDBI Net Banking had been on our list of payment gateways from Day One," shared Mr. Vishwas Patel, CEO of Avenues. "The last decade has seen IDBI change its image from being exclusively a corporate bank to a retail customers' bank. This twin customer base is what we at CCAvenue are looking to service through this tie-up!"

About IDBI
IDBI, the tenth largest development bank in the world has promoted idbi bank to mark the formal foray of the IDBI Group into commercial Banking. This initiative has blossomed into a major success story of a network that today spans 61 cities, 82 branches & 244 ATMs.The bank currently has over half a million customer accounts and is now-poised to touch a million during next 12-18 months. Idbi Bank is India's youngest and one of the fastest growing new private sector banks.The Bank is surging ahead from strength to strength and is fast transforming into a technology led, service driven, financial services marketing company, managed with intellectual
integrity..

About CCAvenue
Established in the year 2001, CCAvenue provides turnkey e-commerce solutions to thousands of e-merchants. It is the preferred Indian payment-processing service for e-commerce, providing server-based payment solutions, enabling merchants to process secure transactions in real time, 24 hours a day. The company's service is powered by proprietary technology that integrates online payment processing, fraud control, financial reporting and tracking.

CCAvenue was specially designed by Avenues’ South Asia's largest integrated ecommerce company. 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’ 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 about CCAvenue, visit: www.CCAvenue.com