Payless Cashways filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code in June 2001, and then went into liquidation in August. To date, Surplus has sold over 95 Payless properties nationwide yielding over 102% of appraised value. Interested parties may now make offers on select remaining retail properties at the Bid4Assets Web site now until November 1, 2002.

Surplus Real Estate and Bid4Assets have also partnered to launch a private online exchange in November 2002 to sell an ongoing flow of retail properties which can be found at http://www.bid4assets.com/SRE. This private exchange, powered by Bid4Assets, was created and customized for Surplus Real Estate to allow them to sell properties on a site that has the look and feel of the their own Web site but with all of the auction functionality of the Bid4Assets Web site.

The 10 properties currently on the Bid4Assets Web site are located throughout the country and include retail stores, building materials centers and distribution centers. The real estate for sale includes the following:

• 4900 North State Road 3, Muncie, IN.
• 3636 West River Drive, Davenport, IA.
• 102 East 50th, Lubbock, TX.
• 11950 East 350 Highway, Raytown, MO.
• 5660 NE Hubbel Drive, Altoona, IA.
• 7477 Old Troy Pike, Huber Heights, OH.
• 6110 Irvington Road, Omaha, NE.
• 1813 East 53rd Street, Anderson, IN.
• 6899 US Highway 64, Memphis, TN.
• 601 Payless Drive, Sedalia, MO.

Photos, specs and other due diligence information are available online at http://www.bid4assets.com. Interested buyers can contact Bid4Assets with any questions or to schedule an inspection by sending an email to service@bid4assets.com.

"Bid4Assets is excited to work with innovative companies like Surplus Real Estate to provide an efficient means of selling real estate to a worldwide network of buyers," said Bid4Assets' vice president of marketing and corporate-wide communications, Jenny Monroe.

About Surplus Real Estate
Surplus Real Estate, an Expert Company (www.surplusrealestate.com), occupies a unique niche in the commercial real estate marketplace as the disposition solution for national corporations and bankruptcy estates. Their proven track record is based on the strategic use of technology, focused marketing efforts, streamlined processes and a national network of local brokers. Positioned as a single-source solution for all disposition needs, Surplus also offers property valuation, management, general consulting, expert testimony, and auction services. The company is located in Mission, Kansas, phone (913) 362-3377, fax (913) 362-3113.

About Bid4Assets, Inc.
Bid4Assets, Inc. (http://www.bid4assets.com) is a leading online auction marketplace that uses technology to maximize return for asset sales. The company helps government and private industry by providing customized solutions such as online, traditional and webcast auctions, as well as Storefronts and Private Auction Exchanges. Bid4Assets focuses on high-end assets, selling real estate, personal property, bankruptcy claims and financial instruments to a worldwide network of buyers more quickly and efficiently than traditional methods. The company is located in Silver Spring, Md., phone (301) 650-9193, fax (301) 650-9194.

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Bid4Assets is a trademark of Bid4Assets, Inc.