ReliaBid's New Receivables Management Solution to be Powered by General Outsourcing Services

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ReliaBid announces that it has completed an agreement with General Outsourcing Services to support its clients' receivables management activities. The new solution is set for launch on the ReliaBid platform on August 31, 2007.

ReliaBid announced today that it has completed an agreement with General Outsourcing Services to support its clients' receivables management activities. The new solution, which has been under development for six months, will be deployed immediately and is set for launch on the ReliaBid platform this evening.

The receivables management service will provide clients with a more holistic approach to managing their non-performing receivables and unpaid items, while incorporating the existing debt collection service line that was developed specifically for clients within the online auction marketplace. While customers can expect to see better results and a higher level of integration within the ReliaBid platform, their service fees will remain the same.

ReliaBid's users can call-upon the receivables management service in the event that they attain a non-paying bidder in relation to their online auction transactions. This is a complimentary service line to ReliaBid's vastly successful seal program, which has been providing auction sellers with unparalleled effectiveness in averting non-paying bidders in their auction sales.

General Outsourcing's activities will include address verification followed by the production and mailing of letters to verified customers' buyers who fail to fulfill their obligation to purchase goods through e-commerce and online auction sites. ReliaBid and General Outsourcing will continue to work together to develop additional features and tools that would facilitate prompt payment to ReliaBid's member sellers, with deployment of these new initiatives expected before the end of the year.

"General Outsourcing provides our users with a comprehensive solution that encompasses their receivables management needs at every level," said Mohamed Ismail, President of ReliaBid. "We believe that working with such a resourceful partner will afford us the opportunity to collaborate on and deploy a number of dynamic tools for our client base in the coming months. This represents a natural fit for our organization and I believe that it will be a win-win for both of our companies."

About ReliaBid, Inc.
Founded in 2004, ReliaBid, Inc. is the leading provider of services dedicated to helping online auction sellers eliminate non-paying bidders in the online auction marketplace by ensuring that sellers receive payment quickly and consistently. Since the launch of its service, ReliaBid has protected over $1 billion in online auction transactions. Located in Arlington, VA, part of the Washington, DC metropolitan area, ReliaBid is a proud is a member of the Northern Virginia Technology Council and Better Business Bureau. For more information on ReliaBid, please visit http://www.reliabid.com/.

About General Outsourcing Services, Inc.
General Outsourcing Services, Inc. (GOS) performs receivable management services for investors in performing and non-performing receivables and other debt obligations for select partners. Through its office in San Diego, California, GOS has the ability to service performing and non-performing consumer and commercial obligations. GOS is a member of the California Association of Collectors and the American Collections Association. Their comprehensive and innovative approach to receivables management makes them an ideal partner for users in the online auction space.

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Barry Rosen
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