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Question and Answers - 3rd June 2008 Announcement

Who is Jumbuck?

Jumbuck Entertainment is an Australian technology company based in Melbourne. They provide wireless community and social networking services to mobile carriers, mobile users and the web. Jumbuck has agreements with more than 80 mobile telephone companies around the world to supply their mobile community products. Jumbuck is a publicly listed company on the Australian Stock Exchange (ASX:JMB). Visit www.jumbuck.com for more information.


Why is OZtion partnering with Jumbuck?

To help OZtion grow faster. Jumbuck is an Australian company, owned by Australians and based in Melbourne, and is a successful publicly listed company (ASX:JMB).

OZtion will be able to access more resources and people, which will make it easier to roll out new services and site upgrades, and grow membership.

It will now also be much easier to attract new investors, to share in our success.


Does this mean that OZtion is disappearing?

No, quite the opposite.

OZtion will be a new division of Jumbuck Entertainment. OZtion will continue to operate with the same office, staff and management. OZtion will now have access to Jumbuck's resources to help grow membership, and deliver new services.


What changes will members see at OZtion?

OZtion will continue to operate normally, helping hundreds of thousands of Australians to buy and sell products online.

Since OZtion started in January 2005, the site has evolved. We have delivered a wide range of new features and services. Many of the improvements have been behind the scenes, to accommodate our rapid growth, and streamline the usability of our site.

Others, like our fully automated online vShops, and Express Lister software, have been designed to make it easier for people to sell their products online.

We plan to continue that gradual evolution. This is just the beginning of a new partnership. We expect that over time, we will be able to more rapidly develop and roll out new features.


How will this effect fees charged for Auction and BuyNow items sold at OZtion?

Our current fees will remain unchanged.

Our zero cost listing service has been enormously successful, and we do not plan to change it. This service allows a seller to advertise a product for sale without paying any up front fee. A fee is charged only if the item is sold.


How will OZtion customer service change?

No changes are expected. Our existing Melbourne based customer service team will continue to offer support and assistance to all of our members.


Will OZtion's founders be less involved as a result of the deal?

All of OZtion's current team will be continuing in their current roles, including the founders.

Philip Druce and Kelvin Yip are both completely committed to OZtion's growth, and have agreed to the acquisition so that OZtion can grow even faster. Both founders will be shareholders in Jumbuck Entertainment.

 


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