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Commerce Planet Retains Merger and Acquisition Corporate Counsel

Commerce Planet, Inc. (OTC Bulletin Board: CPNE) announced today that it has retained Sheppard Mullin Richter & Hampton, LLP as special corporate counsel to Commerce Planet Inc. Sheppard Mullin is a nationally recognized full service firm with nearly 500 lawyers in nine offices, including Los Angeles, New York and Washington D.C. C. Thomas Hopkins, a corporate partner and head of the firm's merger and acquisition team has recently handled JAMDAT Mobile's initial public offering and subsequent merger with Electronic Arts, Inc., Fastclick, Inc.'s initial public offering and many other complex finance and merger and acquisition transactions.

Commerce Planet's CEO, Michael Hill stated, "We are truly fortunate to have Sheppard Mullin working with our team at this time. We believe they possess the experience and capabilities that will help facilitate Commerce Planet's continued growth."

About Sheppard Mullin

Sheppard, Mullin, Richter & Hampton LLP is a full service AmLaw 100 firm with 490 attorneys in nine offices located throughout California, New York and Washington, D.C. The firm's California offices are located in Los Angeles, San Francisco, Santa Barbara, Century City, Orange County, Del Mar Heights and San Diego. Sheppard Mullin provides legal expertise and counsel to U.S. and international clients in a wide range of practice areas, including Antitrust, Corporate and Securities; Entertainment, Media and Communications; Finance and Bankruptcy; Government Contracts; Intellectual Property; Labor and Employment; Litigation; Real Estate/Land Use; Tax/Employee Benefits; Trusts & Estates; and White Collar Defense. The firm was founded in 1927. To find out more about Sheppard Mullin, visit its website at http://www.sheppardmullin.com.

About Commerce Planet, Inc.

Commerce Planet, Inc. (OTC Bulletin Board: CPNE) is a publicly traded, internet-based media company. The Company offers online media products, lead generation services and direct marketing tools to its client partners. Commerce Planet offers an internet turnkey media solution through its network of wholly owned subsidiaries, which include Consumer Loyalty Group, Inc., Legacy Media Inc., OS Imaging, Inc. and Interaccurate, Inc.

Each subsidiary of Commerce Planet specializes in a specific niche of the online media industry. Their combined services are designed to address the needs of client partners, including membership loyalty programs, direct response consumer marketing, affiliate list management, email deployment, live chat software-based services, direct phone sales and customer service, and printing services.

To find out more about Commerce Planet, Inc. (OTC Bulletin Board: CPNE), visit our website at http://www.commerceplanet.com. The Company's public financial information and filings can be viewed at http://www.sec.gov.

Forward Looking Statements

Except for the historical information contained herein, the matters set forth in this press release, including statements as to management's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements include that Commerce Planet believes its shares are undervalued in relation to other industry competitors, especially in light of its past three quarters of growth, the stock repurchase program provides a vehicle to deliver value to its existing shareholders, including the maximum amounts that may be purchased under the program, and the repurchase of shares is a sound use of operating capital. These statements are based on management's current expectations, estimates and projections, are not guarantees of future performance, and are subject to certain risks, uncertainties and other factors, some of which are beyond Commerce Planet's control and are difficult to predict, including, but not limited to, changes in the market price of Commerce Planet's common stock, legal and regulatory, and changes in Commerce Planet's financial results, financial condition and cash requirements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Commerce Planet, Inc. undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Various factors could cause actual results to differ materially, such as the risk factors listed from time to time in Commerce Planet's filings with the Securities and Exchange Commission ("SEC"), including Forms 10-KSB and 10-QSB.

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