BSX Approves Listing of up to 16,444,167 Common Shares and up to 1,250,000 Units of First Ecom.com

Hamilton, Bermuda, December 31, 1999 - The Listing Committee of The Bermuda Stock Exchange (BSX) today announced the approval of the listing of up to 16,444,167, Common Shares (comprising 13,706,667 issued Common Shares and a further 2,737,500 Common Shares that can be issued on exercise of existing share options and warrants), and 1,250,000 Units (comprising one Common Share and one Warrant to purchase one third of a Common Share) of First Ecom.com Inc.

The Company was incorporated and registered in Nevada, USA on February 12, 1999. The Common Shares are currently listed on the NASDAQ Bulletin Board. The Company has applied for a full NASDAQ listing of its Common Shares.

First Ecom.com Inc. provides online credit card transaction processing services for Merchants outside of North America. The Company approves merchants and processing transactions in a tax-neutral location without the need for using United States banking institutions or United States based Internet service providers.

The listing of First Ecom.com Inc. is sponsored by Lines Overseas Management (Bermuda) Ltd.

"The BSX is pleased to welcome First Ecom.com Inc.'s Common Shares and Units to listing", said Mr. James S. McKirdy, Listing Manager of the BSX. "These listings strengthen First Ecom.com's existing links to Bermuda, a prime location for ecommerce business. The Exchange continues to work to attract listings of this type in support of Bermuda's ecommerce iniatives."

# # #

For further information on First Ecom.com Inc., please contact Ravi K. Daswani at telephone: 852-2801-5181.

For more information, contact Joanne MacPhee at the Bermuda Stock Exchange at phone 441-292-7212 or jmacphee@bsx.com. Information is also available at www.bsx.com, on Bloomberg at BSX , and on Reuters at THE BSX.

The Bermuda Stock Exchange is a fully-electronic offshore securities market founded in 1971. The BSX lists more than 290 securities -- including equities, mutual funds and bonds, as well as depository receipts -- and is a full member of the F.I.B.V. (International Federation of Stock Exchanges) as well as being recognized by the U.S. SEC.