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10/23/2007

Current News From International Reciprocal Trade Association

Gary Field of NuBarter in Savannah (GA) and his energetic team did a superb job of hosting this year�s recent IRTA �U� Conference, that the Tuesday Report covered in September, which highlighted new challenges faced by exchange owners and shed new light on existing ones. The speaker line-up made it an intense two-day educational program.

There were new faces from new places as this year�s attendees were from ten countries, representing both the commercial barter industry and complimentary currency systems.

The IRTA Business Meeting covered a variety of topics. . .

Financials: IRTA Treasurer Harold Rice reported that the budget is on target and the IRTA financials are in sound shape. He attributed this largely due to the accurate forecasting and excellent financial management from Krista Vardabash, former Executive Director.

Resignation: Krista Vardabash announced her resignation as IRTA Executive Director effective 10/1/07, after seven years of meritorious service to the commercial barter industry. Krista anticipates working and remaining within the industry.

Appointments: The IRTA Global Board of Directors appointed Ron Whitney to the position of IRTA Executive Director. Ron will focus on membership growth and development, revenue generators, education, and member relations. He brings a fresh perspective and value to the association. As a former trade exchange owner, he understands the many challenges and intends to create more definable membership benefits.

Ethics: IRTA currently has one ethics complaint outstanding. The Ethics Committee reported on the current complaint.

Elections: Open Board seats were filled by Ian Jones of BarterXchange and Gary Field of NuBarter. Richard Logie and David Wallach were re-elected to the Board. The new IRTA Global Board of Directors elected David Wallach as President, Michael Mercier as Vice President, Harold Rice as Treasurer, and Ian Jones as Secretary.

New programs: IRTA Operation Outreach and the IRPAC program were identified as definable IRTA membership benefits, therefore receiving top priority for 2008.

Universal Currency: The UC trade volume, currently at 4.1 million, has already exceeded last year�s 3.8 million at this time. More importantly, attention was called to the relationships forged with other UC members, the growing membership, and the overall increased currency value.

It was also decided that UC will soon have an international currency conversion piece built into the GETS system it utilizes. The company�s financials are in good shape and are strengthening each year.

Other news and events:

The IRTA Global Board is looking for members to participate in the newly formed Statistics Committees. If you would like to be involved, please e-mail Dave Wallach at dwallach@sfoutdoortv.com.

IRTA members are allowed one full dedicated page on the IRTA web site containing company description. Membership also authorizes one to have the verifiable IRTA logo on your firm�s web site. (For full details on how to submit your one page description or to obtain information on the verifiable logo, please e-mail Jennifer Ashworth at jen@irta.com.)

The IRTA web site committee has recommended many positive changes to make the site more user friendly, enhance the membership directory, and provide more news and educational materials.

Those wanting additional information or having questions are invited to e-mail Ron Whitney (ron@irta.com) or Jennifer Ashworth (jen@irta.com) or phone them at the IRTA office (585) 424- 2940.


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