Yep - e-commerce with a bang! http://www.uraniumonline.com/nynco/Press_Releases/press_releases.html PRESS RELEASE Nuclear Fuel Market Goes On Line With UraniumOnLine.com July 10, 2000 New York --U.S. utilities that generate electricity from nuclear power plants are entering the world of e-commerce to buy fuel for their reactors. New York Nuclear Corporation (NYNCO), a nuclear fuel brokerage company founded in 1982, is now operating UraniumOnLine.com (UOL), the only nuclear fuel electronic marketplace in the world. Nuclear fuel auctions within UOL are private and open only to qualified buyers and sellers. Until now, nuclear materials were procured using cumbersome and time consuming methods. Information about material availability and prices was limited. But with its second on-line auction, UOL has moved the nuclear fuel market into a new age. The July 6 auction of 125,000 pounds of uranium began at 9:01 a.m. and closed twenty-two minutes later. Uranium prices during the past year have fluctuated from between $10.40 to the current UOL auction result of $8.18 per pound. The auction reflected a typical spot nuclear fuel market transaction in terms of quantity and delivery requirements. "Nuclear fuel prices have always been difficult to determine because important details of transactions are often unknown," explained NYNCO President Joseph McCourt. "The published prices that are currently used by the industry involve a fair amount of guess work. With UOL, the market can actually see what the deal is and what exactly buyers and sellers are bidding. We believe with UOL the multi-billion dollar international nuclear fuel industry will finally have a specialized trading platform capable of handling procurement with low transaction costs and complete price transparency. Moreover, UOL will, with the help of its worldwide clients and its in-house nuclear fuel expertise, provide the nuclear fuel industry contractual and other standards that will define and greatly facilitate nuclear fuel trade around the world." Nuclear fuel is used by the world's 430 nuclear power plants to supply approximately 20% of the world electricity needs. About New York Nuclear Corporation: NYNCO, with offices in New York, Washington, Atlanta and Preston, England, has offered brokerage services to the commercial nuclear power industry since 1982 and has concluded transactions involving millions of kilograms of uranium, uranium hexafluoride conversion services, and uranium enrichment services. Its worldwide client list includes most nuclear utilities and uranium producers and processors. For more information, contact: In North America: Becky Battle (404) 876-9454 ([EMAIL PROTECTED]) In Europe: Andrew Crockett 441772200320 ([EMAIL PROTECTED]) Thanks! Bill Bill Stewart, [EMAIL PROTECTED] PGP Fingerprint D454 E202 CBC8 40BF 3C85 B884 0ABE 4639
