IDEADOLLAR.COM ANNOUNCES IDEA DEVELOPMENT FUND - JUNE 6 2000

NEWS RELEASE

For more information contact:

Bridget Webb
The Definite Article
020 7372 2502 (UK)
bridget@definite.co.uk Mark Turrell
ideadollar.com
001 415 215 0009
mark.turrell@ideadollar.com

ideadollar.com announces Idea Development Fund

Now all inventors can see their dreams become reality

London -- 25th May 2000 - Ideadollar.com - an e-marketplace that merges the concepts of communities and e-commerce with a form of sponsorship, by buying and selling ideas -- today announces the ideadollar.com Idea Development Fund. The fund of $100,000 will enable everyday people to develop their own ideas in partnership with ideadollar.com.

According to Mark Turrell, founder of ideadollar.com, many good and potentially commercially valuable ideas cannot be developed due to the lack of interest from venture capitalists. "Venture capital funds have become very large," Turrell explains. "In Silicon Valley, it is usual for small funds to be around $100m, whilst large funds are often in excess of $1bn. VCs find it difficult to invest in small ideas, because they take too much time to investigate. Also, there may not be enough reward for them to achieve the very high returns to which they have become accustomed. This may change, but in the meantime, ideadollar.com is bringing to market an opportunity to help normal people with smaller ideas that have the capacity for success."

The idea for the fund was entered into the recent ideadollar.com first annual "Golden Lightbulb" competition by Alice Kerly of Bristol. Kerley's idea is based on development funds available in lesser developed countries such as Bangladesh, where individuals are awarded small sums of money to set up in business. The ideadollar.com Idea Development Fund brings that approach into the developed world, helping people who would not normally seek funding for their ideas.

The fund is available for people with good ideas who sell them to ideadollar.com. ideadollar.com then evaluates the ideas and the best ideas are nominated for the fund. The idea originators then work on their idea in partnership, effectively as consultants to ideadollar.com. In return they are paid up to between 200 and 1,000 depending on the scope of the idea.

Turrell explains the vision for the fund: "This is just the start of the idea-selling cycle. Payments like this go a long way to improving the quality of ideas. Higher quality ideas are much more interesting to potential investors, and to corporate research and
development departments. By using the fund, the ideas can be refined until they are ready to be presented as complete ideas."

ideadollar.com's initial Idea Development Fund of $100,000 is expected to increase over time, but will always follow the same philosophy and be available to individuals looking for smaller investment amounts. "We do not intend to become a
true VC fund, or an incubator," concludes Turrell.

For more information on the fund and how to become eligible, please contact: Mark Turrell at mark.turrell@ideadollar.com.

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Notes to Editor:
ideadollar.com is the first community generated content site of its kind. Based in San Francisco and Clerkenwell, London, ideadollar.com pays people for their ideas. For further details visit www.ideadollar.com. Visitors to the ideadollar.com website will be given financial reward for their ideas which can be exchanged for goods at a number of e-retail outlets. ideadollar.com will allow companies to strengthen their relationship with customers and obtain feedback about product launches using the largest focus group in the world.

The concept of ideadollar.com came to Mark Turrell in an Islington bar, where initial thoughts were scribbled on a cocktail napkin. He still has the napkin to prove it and carries it with him when pitching to investors as proof that the simplest ideas can be worth a billion dollars.