Business Editors/Hi-Tech Writers

WASHINGTON--(BUSINESS WIRE)--Aug. 8, 2000

CBQ Inc. (OTCBB: CBQI-news) the E-Business Marketplace, announced today that it has acquired Quantum Technology Group (www.qnettech.com), a Baltimore-based, rapidly growing, regional full service provider of Information Technology and e-Business infrastructure.

Quantum is the third largest e-Business provider in the Baltimore area. The acquisition will position CBQ as a major competitor in the e-business infrastructure market, which is projected to reach $204 billion this year and $348 billion by 2003, and the IT outsourcing market, which is projected to reach $110 billion in 2003.

Quantum Technology Group provides a full range of network services, software development, and web-based solutions, as well as information technology outsourcing resources. As an infrastructure service provider designing and marketing custom software and services to businesses enagaged in the wider Internet world, Quantum will bolster the software development efforts of CBQ, Inc. in China and other markets. Quantum also possesses proprietary software solutions that have national markets.

Quantum anticipates that its annualized revenue will exceed $14 million for 2000. Quantum services large corporate clients primarily in the Mid-Atlantic region and throughout the United States.

CBQ, Inc. will acquire 100 percent of the shares of Quantum for shares of CBQ common stock.

"We are delighted with the acquisition of the Quantum Technology Group," said Bart S. Fisher, Chairman of CBQ, Inc. Our goal is to become the number one full service provider for the e-Business/e-Enterprise market in the mid-Atlantic region," Fisher said. "The larger presence of CBQ in the U.S. software market will enhance our ability to execute our business plan in China, and provide a competitive edge in the U.S. marketplace," Fisher said.

"The acquisition should allow CBQ, Inc., under current projections, to enter a profitable position by the first quarter of 2001," Fisher said.

"Quantum Technology Group is looking forward to becoming the operating engine that will take advantage of CBQ's vast intellectual property in China. Moreover, we are aggressively pursuing additional acquisition targets to expand CBQ's range of e-Business services," said John Moran, President of the Quantum Technology Group.

About CBQ, Inc.

CBQ, Inc. The E-Business Marketplace is a total end-to-end provider for implementing customer-driven e-business solutions. Through its subsidiaries, Quantum Technology Group, Reliance Technologies, Inc. and Priority One Electronic Commerce Corp., it provides a full range of networking services, software development, and web-based solutions, as well as information technology outsourcing resources. For more information on Quantum Technology Group, visit www.qnettech.com. ChinaSoft, Inc. is a wholly-owned subsidiary of CBQ, Inc. that is a joint venture partner with CCSoft Technology Developing, Ltd. Its services include Software Development for Enterprise computing and Internet development. For more information about CCSoft, visit www.ccsoft.com.cn. China Wireless, Inc. is a subsidiary that is developing telecommunications projects in China. China Partners is a subsidiary that facilitates international trade and investment opportunities between companies in the United States and China. For more information on CBQ, Inc., visit www.cbq.com.

This news release includes forward-looking statements related to CBQ Inc. that involve risks and uncertainties, including, but not limited to, quarterly fluctuations in results, the management of growth, market acceptance of certain products and other risks. These forward-looking statements are made in reliance on the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. For further information about these factors that could affect CBQ's future results, see the company's filings with the Securities and Exchange Commission (the "Commission"). Prospective investors are cautioned that forward-looking statements are not guarantees of future performance. Actual results may differ materially from management expectations.