Why QXL will be the biggest multi-bagger of 2004...5 good reasons!

Happy new year! Cawky..hope you closed your short..lol!

QXL RICARDO: In Talks with Potential Bidder
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Online auctioneer QXL Ricardo plc confirmed Friday it is in
early talks regarding a possible sale of the company.

According to The Deal, a QXL spokeswoman declined to elaborate
on the statement, but rumors regarding the possible bidder will
most likely point to San Jose, Calif.-based eBay. The firm is
already U.K.'s No. 1 online auctioneer. It has this year been
into an international buying spree, acquiring companies in India
and Germany, and recently, in Netherlands.

The purchase price for QXL, which was once worth more than
GBP2.5 billion (US$4.6 billion), is at present dependent upon
the results of a custody case involving its former Polish unit,
according to the report.

QXL is suing its former board member Arjan Bakker of deceiving
it in December 2002 into ceding control of QXL's Polish unit,
QXL Poland Sp. z.o.o., one of its best-performing businesses.

Mr. Bakker was installed on the firm's board in March 2000 when
QXL acquired his company, SurfStopShop Sp. z o.o., operator of
auction site Allegro.pl. Under Polish law, a foreign buyer is
required to have local representation on its board.

QXL said Mr. Bakker, with the help of Przemyslaw Rogowski, an
outside lawyer who used to work for the company, misrepresented
a share-issue deal to QXL chief executive Mark Zaleski to get
him to approve the transfer of the Polish company's stock into a
corporation called NIAA Sp. z.o.o.

An assessment by a court-appointed independent evaluator in
December put QXL Poland Sp. z.o.o.'s value at that time at about
US$13 million. QXL won a preliminary legal victory in
September, when Mr. Rogowski was found guilty on six counts of
breach of professional ethics and Polish authorities disbarred
him.

QXL expects to begin this week a civil case against Mr. Bakker
and Mr. Rogowski. Jerzy Skrzytowski, formerly of Baker &
MacKenzie, and Polish law firm Wiercinski Kwiecinski Baehr are
handling the suits.

Shares in QXL climbed 83% to 600 pence on reports of sale talks,
but its market cap remained at less than GBP10 million. The
company has just GBP900,000 in its book.