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Goleta, California - (Cheap Web Hosting Directory) - August 3, 2006 - Commerce Planet, Inc., has reported a 460% increase, indicating record revenues and profits during the second quarter of 2006. Revenue for the quarter ending June 30, 2006 was $7,086,818, while $1,258,616 was reported for the quarter ending June 30, 2005.

Net income during the quarter ended June 30, 2006 was $1,460,117 vs. a net loss of ($1,986,382) for the quarter ended June 30, 2005. The Company’s complete financial results can be viewed in its Form 10-QSB filing for the quarter ended June 30, 2006.

Michael Hill, Commerce Planet CEO, commented, ”I am very pleased to report such outstanding performance to our shareholders. Clearly our momentum is continuing as sequentially from the first quarter our revenue more than doubled and our profits increased over 650%. In just six months of this year our $11 million in revenue and $1.6 million in net income, far exceeds our performance for all of 2005. Additionally, we recently announced year to date debt repayment of $2.2 million with cash flow from operations and with over $1.8 million in cash, the overall health of Commerce Planet has never been better.”

Mr. Hill added, ”Our goal as we progress into the second half of 2006 is to increase both the breadth and depth of our offerings by continuing to introduce additional products and services which assimilate seamlessly into our model without disruption to our processes or bottom line. Given the continued robust outlook for online commerce, I believe we are positioned perfectly for further growth well into the foreseeable future.”

Commerce Planet, Inc., through its websites ‘commerceplanet.com,’ ‘osimaging.com,’ ‘onlinesupplier.com,’ ‘buydiscount.com’ and ‘mysoftwaretutor.com,’ provides e commerce solutions, printing, fulfillment, and thousands of products at significant savings to its online loyalty club customers and members.

To learn more about the Company’s public financial information and filings, please visit: www.sec.gov.

For more information about Commerce Planet, please visit: www.commerceplanet.com.

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