TestMart announces record quarter and profitability

TestMart passes two significant financial milestones in the 3rd quarter of 2003

SAN BRUNO, Calif., - November 4, 2003

TestMart , the leading marketplace builder, operator and service provider for the test and measurement industry announced today that the company had booked record orders for the 3rd quarter of 2003 as well as an operating profit for the period ending September 30. The company, which is privately held and does not typically disclose its financial performance, said that orders for the quarter topped $8 million on strong new equipment sales and increased service revenue. The company also forecasted that the remainder of 2003 and the first two quarters of 2004 would realize gains of over 150% compared to the comparable year-ago period.

"We decided to go ahead and announce our financial progress because this news illustrates that TestMart, founded and funded during the height of the Internet bubble, has proven to investors, customers and industry observers that there are businesses from that period that are self-sustaining and growing rapidly," said Peter Ostrow, TestMart president and CEO. "We're proud to say that we built this company by solving real problems and staying focused regardless of the market environment," said Mr. Ostrow.

TestMart builds and operates marketplaces for the test and measurement industry. The Company's newest marketplace, NAVICPmart ™ is operated under Department of Defense Contract. The company's main source of revenue comes from building and maintaining the marketplaces, commissions on the sales of equipment and service fees for providing marketing and sales support to participants of the markets. The company recently announced an agreement to provide services in the government and military sector to the Anritsu Company of Japan, a leader in the microwave and millimeter wave measurement technology, but stated that this agreement was not in place long enough to positively impact their third quarter results although they do expect this partnership to begin contributing to the bottom line by the fourth quarter of 2003.

About TestMart

TestMart is the leading marketplace builder, operator and service provider for the test and measurement industry. TestMart operates two marketplaces at www.testmart.com and www.navicpmart.com, which is a product of a service contract between the Naval Inventory Control Point (NAVICP), a Division of the Naval Supply Systems Command, and TestMart under contract number N00104-01-D-X407.

EDITORIAL CONTACT:
Mitchell Levy
408.257.3000
navicpmart@ecnow.com