Black Wealth Network Partners with blackenterprise.com; Online Investment Services Support...

Business Editors

CLEVELAND--(BUSINESS WIRE)--Sept. 25, 2003

Black Wealth Network (www.bwnonline.com), an online investment service empowering African Americans of all income levels to create wealth for current and future generations, today announced a partnership with blackenterprise.com

The partnership gives blackenterprise.com's visitors one-stop access to leading African American-managed mutual funds with no minimum investment levels and ultra-low fees.

"Black Wealth Network offers an investment model that provides both the tools to make investing easy and accessible, and a means for channeling the wealth and spending of African Americans back to African Americans," said Tariq Muhammad, director of interactive media for Black Enterprise. "It's a natural fit to our Black Wealth Initiative."

The Black Wealth Initiative seeks to empower its readers to change attitudes toward money management and to accumulate wealth.

The mission of Black Wealth Network is to make investment opportunities and wealth creation affordable and accessible to African Americans throughout the world. Membership is $4.99 per month for unlimited transactions with no minimum investment levels required to open an account.

"The potential impact of the Black Wealth Network on the collective wealth of African Americans is significant," said Steve Washington, founder and managing director of Black Wealth Network. "Nearly $3 billion can be retained within the African American sub-economy annually if just three percent of the Black population joins the Network, invests five percent of its income, and redirects a small portion of its natural spending to our rebate partners."

More than 40 retailers with online components, including Walmart, Target and Nordstrom, as well as online merchants focused on the African American market, such as Nubonyx.com, have partnered with Black Wealth Network to offer shopping rebates that are deposited directly into investment accounts of Black Wealth Network members.

Black Wealth Network launched in May of 2003. Its mutual fund partners are among the leading African American-managed funds and include Ariel, Lou Holland and Brown Capital.

About Black Wealth Network

Black Wealth Network (www.bwnonline.com) is an online investment service for African Americans. It empowers Blacks of all income levels to create individual and collective wealth for current and future generations. Members invest in leading African American-managed mutual funds for ultra-low fees with no minimum investment requirements. The company's business model promotes and facilitates a circular income flow within the African American sub-economy and thereby strengthens the Black community. Black Wealth Network is a joint initiative of SBK-Brooks Investment Corporation and SaveDaily.com, Inc., and is headquartered in Cleveland.

About blackenterprise.com

blackenterprise.com is the ultimate online vehicle to reach business-savvy, success-oriented African Americans. It offers our audience the ability to enhance the utility of BLACK ENTERPRISE magazine through its online companion. blackenterprise.com employs interactive tools and resources to help users create and follow through on their personal wealth building strategies.