International Monetary Systems Files 10-QSB

Revenue up 20% over same period in 2003

New Berlin, Wis., November 16, 2004 -- International Monetary Systems, Ltd. (OTC BB: INLM), a worldwide leader in business-to-business barter services, recently filed its third-quarter 10-QSB financial report which showed a 20% increase in net revenue over the third quarter of 2003.

In the quarter ending September 30, 2004, the company's net revenue increased 20% to $1,169,918, compared to $971,944 for the third quarter of 2003. The increased revenue was a result of the California Barter Exchange and Barter Network acquisitions, which were consummated earlier this year, along with additional internal growth of the CTE barter exchange.

In the quarter ending September 30, 2004, the Continental Trade Exchange (CTE) barter network division had a profit of $119,098, compared to a profit of $96,835 for the same period of 2003, an increase of 23%.

The company's total expenses during the third quarter of 2004 increased to $1,180,84, compared to $964,411 for the same quarter in 2003. The increased expenses were attributed to the acquisition of the two trade exchanges, a one-time legal fee for a lawsuit instituted and settled by the company against an investor relations firm, and other non-cash charges for investor relations work and consulting services.

The CTE barter network division's operating profit of $119,098 was reduced by the expenses described above. As a result, for the third quarter of 2004, the company had a net consolidated loss of $7,443, compared to a profit of $5,321 for the same period in 2003. Earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $92,495 for the current quarter. For the same period last year EBITDA was $118,077.

For the nine months ending September 30, 2004, the CTE barter network division had year-to-date net income before taxes of $390,680, compared to $299,029 for the same period in 2003, an increase of 31%.

The company's year-to-date consolidated net revenue for the nine-month period ending September 30, 2004, totaled $3,347,528, compared to $2,791,859 for the same period in 2003, an increase of 20%. Total expenses for the same period in 2004 were $3,267,479, compared to $2,867,536 for the same period in 2003, an increase of 14%. Year-to-date net income for the first nine months of 2004 was $61,686, compared to a loss of $57,086 for the same period in 2003.

EBITDA for the first nine-months of 2004 totaled $357,319. For the same period in 2003 EBITDA was $192,754. This is an increase of 85% for the current year.

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Source: International Monetary Systems, Ltd.