International Monetary Systems Files 10-QSB

Barter industry leader profitable in 3rd quarter, net revenue up 45%

New Berlin, Wis., November 13, 2003 -- International Monetary Systems, Ltd. (OTC BB: INLM), a worldwide leader in corporate and consumer barter services, today filed its third-quarter 10-QSB financial report, which showed a 45% increase in net revenue over the third quarter of 2002.

The company reported net revenue of $971,944 for the quarter ended September 30, 2003, compared to $668,782 for the same quarter of 2002. The revenue increase was attributed to internal growth of the company's Continental Trade Exchange barter network and the acquisition of BarterNet of Brentwood, Calif., and TradeMasters of Louisville, Ky. The company's income of $90,490, before depreciation charged on equipment of discontinued operations and extraordinary charges, compared favorably to income of $86,353 in the third quarter of 2002.

For the nine months ended September 30, 2003, the company's net income before depreciation and extraordinary charges reached $298,751 on gross revenues of $2,933,452.

Depreciation charged on the equipment still owned from the discontinued printing division and extraordinary expenses related to investor relations and consulting services reduced third-quarter net income to $5,321, compared to a net loss of $69,854 for the same period in 2002. Year-to-date, the company had a net loss of $57,087 compared to a loss of $181,343 for the same period of 2002.

For the quarter ending September 30, 2003, the company had an operating profit before interest, taxes, depreciation and amortization (EBITDA) of $118,077, compared to an EBITDA last year of $13,215. EBITDA for the nine months ending on September 30, 2003 totaled $192,754.

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Source: International Monetary Systems, Ltd.