First American Primary Listing On The SWX New Market

The shares of e-centives, Inc. a e-business company, were traded today for the first time on the SWX New Market. The offering price was set at CHF 19. At the start of trading on SWX, the stock stood 10% above that level at CHF 20.90, representing a total market capitalization for the company of CHF 316,6 million.

According to the listing prospectus, 3,700,000, or 24% of the total 15,146,559 outstanding registered shares, will be publicly placed in connection with the IPO. All 3'700'000 of the publicly offered shares were part of a capital increase associated with the IPO.

e-centives Inc., headquartered in Bethesda, Maryland, is an online direct-marketing organisation that enables other companies to access online consumers via Internet portals and thus market products and services to those potential buyers in a targeted fashion according to their own preferences. e-centives makes available the necessary infrastructure for these activities and consequently integrates the marketing companies, portals and consumers.

e-centives was founded in 1996 and currently employs approximately 100 individuals and earns revenues primarily from the targeted delivery of marketing matter on behalf of the selling companies.