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Auction Rate Preferred Securities Move to Internet

Pittsburgh, PA (January 18, 2001) — MuniAuction has conducted another transaction in Auction Rate Preferred securities (ARPs) through Wilmington Trust, (http://www.WTauctions.com). MuniAuction’s ability to create auction and exchange platforms for the capital markets has created opportunities for development of a wide range of web-based applications. MuniAuction typically creates the platforms for its clients and then hosts their transactions on its own servers.