BIB Holdings Announces Execution of Amendment to Agreement to Acquire Incode Corporation

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Business Editors / Apparel/Textile Writers NEW YORK--(BUSINESS WIRE)--Oct. 28, 2004-- BIB Holdings Ltd. ("BIB") (OTCBB:BIBO), today announced its execution of an amendment to its agreement to acquire Incode Corporation ("Incode"), a privately held technology services company whose business model is the acquisition, development and commercialization of innovative subscription-based eBusinesses. The purpose of the amendment is to extend the time for closing of the transaction to November 15, 2004 from October 31, 2004. About Incode Corporation Incode was founded in 2004 to acquire, develop and commercialize innovative and profitable subscription-based eBusinesses in the online dating, information, retail, industrial, and financial services sectors. Incode recently announced its plans to acquire an industrial services subscription portal, several online dating services, and to develop a streaming financial and market information service in connection with the closing of the proposed acquisition by BIB. Additional information is available online at www.incodetech.com. About BIB Holdings Ltd. BIB Holdings Ltd. designs, manufactures, imports, sells and markets branded and non-branded apparel. The company has a showroom in New York, a distribution center in Pennsylvania and a distribution center in Las Vegas, within a Foreign Trade Zone. The company designs, sources and markets a brand of high quality apparel under the m.Sasson, Elk Canyon and New Terrain labels as well as private label. Product lines have included underwear, loungewear and outerwear, as well as accessories such as ties, hats, scarves, gloves, jewelry, backpacks and small leather goods as well as apparel. BIB Holdings Ltd. distributes its clothing via leading retailers throughout the United States and abroad. Additional information is available online at www.msasson.com. Safe Harbor Statement This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of BIB Holdings Ltd., and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. KEYWORD: NORTH AMERICA NEW YORK UNITED STATES INDUSTRY KEYWORD: TECHNOLOGY INTERNET MANUFACTURING TEXTILES RETAIL FASHION MERGER/ACQUISITION SOURCE: BIB Holdings Ltd. CONTACT INFORMATION: BIB Holdings Ltd. Jeff Kaplan, 845-365-0855