Research, Report & Profiling Services by IPOdesktop.com Communicate.com Stock symbol: CMNN.OB……..………………………………….…………..Ave Volume: 38,000

Stock price 11/20/04: $.67………...…….Common shares, 11/20/04: 17.3 million, fully diluted

52-week price range: $ 0.20 - 0.89………………….…Equity market capitalization: $11.6mm

Recent News…..Stock Price…..Chart…..SEC Filings Listen to the Interview with David Jeffs, CEO November 20, 2004

BUSINESS

Owns and markets 25+ intuitively branded, single word websites, which inherently receive high levels of targeted traffic without any costly advertising expenditures

"It begins with the URL, if 'it' is short, easy to type and positively lodged in a customer’s mind, a URL will attract visitors – just as a name brand store with a convenient location and parking attracts shoppers in the bricks and mortar world." -- Advertising Age Magazine

HIGHLIGHTS

Seven consecutive profitable quarters through the third quarter 2004

Management forecasts yet another record revenue period for the fourth quarter ending Dec. 31, 2004, with positive cash flow

Debt free

See 'comparables' below, CMNN has comparatively better ratios

RECENT DEVELOPMENTS

$350,000 URL sale agreement for http://www.rugby.com (click to see who operates the site)

Makeup.com unveiled ahead of bustling holiday season

'New' Malaysia.com launched, three additional travel sites in development

-----------------------------------------------------------------------

Address:

Canadian Office: 1100 Melville St., Suite 600, Vancouver, B.C. Canada V6E 4A6

U.S. Office: First West Building, 200 First Ave. W, Suite 400, Seattle, WA, USA 98119

Telephone: 604-648-0536, 866-898-4354, FAX: 604-681-3490

CEO: David Jeffs

Web Site: http://www.communicate.com

State or other jurisdiction of incorporation or organization: Nevada

Transfer Agent: Computershare Trust Company

Auditor: Dale Matheson Carr Hilton-Labonte & Co.

Investor contact: Adam Rabiner, (866) 898-4354, information@communicate.com

-----------------------------------------------------------------------

MORE RECENT DEVELOPMENTS

Karate.com online martial arts megastore launched in June 2004, serving the $1 billion+ annual martial arts industry. The site is already having a positive impact on revenues

CMNN's operating travel/destination websites (Vietnam.com/Malaysia.com/Indonesia.com) are growing in revenues, and CMNN plans to launch its Brazil.com and Greatbritain.com in the near term

CMNN is increasing its advertising revenue, and has an agreement with the leading global online pay-per-click advertising company

BUSINESS MODEL

Designed to generate diverse, recurring and profitable revenues

Online eCommerce sales

Membership subscriptions

Online advertising sales

Pay-per-click payments

OPERATIONS

Manages company-owned domain names

Leases domain names to others

Receives "pay-per-click" advertising revenue

Generates other advertising and commissions from the sale of products and services

Domain name sales and royalties

Generates income from the sale of domain names considered not essential to the core business.

Retains a perpetual product & service royalty of 5% right for each of the domain names sold, including makeup.com, automobile.com, exercise.com, and call.com

(CMNN has no immediate plans to sell any domain names in the near future)

Q3 (September) 2004

Domain Name Leasing and Advertising

Domain name leasing and advertising revenue increased 267% to $172 thousand, up from $64 thousand in Q3 2003

Q4 domain name leasing and advertising is expected to approach $240 thousand, according to management

Q3 (September) 2004

Product Sales.

CMNN began converting Internet traffic into customers by directly marketing and selling consumable goods in 2003

Cologne.com and Perfume.com

In Q3 (Sept), 2004 the sites generated sales of $339 thousand ($3.7k per day) -- up 261% from Q3, 2003 -- with a gross margin of 20.8%

Management expects to see continued growth for the fourth quarter because of the holiday season.

Q3 (September) 2004

Travel Business

Q3 (September), 2004 results

In Q3 (Sept), 2004 CMNN through its travel business subsidiary generated product sales of $105.6 thousand with a 17% gross margin, up from sales of $69.4 thousand in Q2, 2004

Sales are expected to be weaker in the fourth quarter as Management reorganizes its overseas operations.

Management continues to build its travel business by forming affiliations with partners in Southeast Asia and in Brazil and estimates that the travel business will break-even when sales approach $150,000 per quarter and believes the goal is achievable within six months

FrequentTraveller

October 2003, CMNN became a majority shareholder of FrequentTraveller which has developed and is operating travel sale websites utilizing non-exclusive access to CMNN’s domain names Vietnam.com, Malaysia.com, Indonesia.com, Brazil.com and Canadian.com

CMNN will continue to own the travel-related domain names and to develop businesses other than travel sales for them

MARKET

Excluding travel, online retail sales in the U.S. grew 34% in 2003 over the previous year, reaching $72 billion, with a rising economic tide "floating all boats," meaning that all product categories online did well. Including travel - the biggest eCommerce category - the survey found that online sales in 2003 grew 51% over the previous year to reach $114.1 billion.

Overall, online sales accounted for 5.4% of total retail sales in 2003, up from 3.6% in 2002. In 2004, online sales are projected to account for 6.6% of total retail sales, according to the Shop.org/Forrester Research State of Retailing Online Survey. Shop.org projects that online sales will grow to 10% of all retail sales by 2008.

Online advertising and retail sales

Online advertising:

2001– $5.7 billion

2002– $6.8 billion

2003– $8.6 billion (estimated)

2004– $10.6 billion (estimated)

2005– $12.9 billion (estimated)

2006– $15.4 billion (estimated)

Retail sales online are expected to increase at a 19 percent annual compounded rate through 2008, resulting in sales of $229.9 billion in the next five years

Online food and beverage retail sales will grow nearly fourfold to $17.4bn in 2008 from $3.7bn this year. And sporting goods are expected to increase to $6bn over the next five years, from $1.7bn. Johnson noted that nearly a third of the sporting goods sold are expected to be used items.

Online sales are expected to account for 10 percent of all retail sales by 2008, a sizable increase from its current slice of 4.5 percent for 2003, according to figures from Forrester and a May report by Shop.org, a division of the National Retail Federation. In 2001, online retail sales represented 3.6 percent of total retail sales.

*Sources: Fast Company, Internet News.com, Jupiter Media Metrix, The Search Engine Report and the U. S. Department of Commerce, Forrester Research

Internet Impact on Offline Spending at All-Time High

According to a recent report from The Dieringer Research Group.

$1.70 is spent offline after doing online research for every consumer dollar spent directly online

Consumers the past year was responsible for driving $180.7 billion in offline spending, compared to $106.5 billion in direct online consumer spending

Nearly 15% of total U.S. retail spending (excluding gasoline, food services and inventories) is currently influenced altogether by the Internet

CORE ONLINE BRANDS

Perfume.com and Cologne.com, the Company’s e-fragrance stores

Importers.com, the Company’s B2B trade portal

Karate.com, the Company’s online martial arts superstore

Body.com, the Company’s planned health & vanity portal

FrequentTraveller.com, the Company’s travel portfolio

COMPETITION

Below is a sampling of some of the Company’s well-known competitors:

Competitor Comment

Drugstore.com Competes with the Company’s perfume.com site

Travelzoo Competes with the Company’s travel properties

Aptimus An online advertising company

Amazon.com Possibly the best known retail address on the Internet

E Com Ventures Owns perfumania.com, an online fragrance retailer

COMPETITIVE ADVANTAGE

The greatest challenge faced by any online business venture is customer acquisition. It also represents the largest expense for most companies, costing as much as $100 per customer.

The intuitive nature of Communicate.com's premium one-word domains generates a perpetual level of traffic without no marketing expenditures. As a result, Communicate.com holds a key advantage over the competition in customer acquisition and price.

The Company has established a track record of knowing how to sell over the Internet, and enjoys a 5% conversion rate on its perfume.com website.

Each visitor is a targeted buyer because it is attracted to a website by a generic, one word search result.

Buyers are most apt to buy when they are most interested. It can be assumed that buyers visit one of the Company’s sites only because they are interested in buying something at that time.

GROWTH PLAN

Through its numerous, high traffic eCommerce websites, CMNN

Provides expanding venues

Where consumers, businesses and others will be able to affordably and conveniently

Buy products, find jobs, plan trips, send and receive emails and perform a host of other tasks

COMPARABLES

Compare CMNN financial ratios with Ebay, Yahoo, Google, Amazon, Ask Jeeves, TravelZoo, Shopping.com, & Aptimus.

cmnn-ratios.htm

MANAGEMENT

David Jeffs, President & Chief Executive Officer

Mr. Jeffs was appointed President of Communicate.com in July 2002, after consulting for the company since November 2000. Previously, he was President of Daval Productions, a Vancouver-based media company specializing in the production and marketing of videos for the tourism industry. Mr. Jeffs has been instrumental in reorganizing the business of Communicate.com, significantly reducing its debt and leveraging the assets of the company to generate revenue — resulting in a profitable growth eCommerce company. Mr. Jeffs holds a BA in Economics from the University of British Columbia.

J. Cameron Pan, Chief Financial Officer

Mr. Pan joined Communicate.com from Deloitte & Touche LLP, where he was a Manager in the Financial & Special Services Group. He brings extensive capital markets, acquisition and restructuring experience to Communicate. Previously, Mr. Pan was Chief Financial Officer of Memtek Products, Inc. (now called Memorex), a global leader of digital media, optical storage, media accessories and computer input devices; Vice President for Asia Pacific at Marleau Lemire Securities Inc. and Audit Supervisor at Coopers & Lybrand. Mr. Pan is a Chartered Accountant and holds a Bachelor of Business Administration from Simon Fraser University.

Adam Rabiner, Communications Director

Mr. Rabiner joined Communicate.com in July 2003. Previously, he was Director of Communications & Investor Relations for Cryopak Industries Inc., a public company traded on the TSX Venture Exchange and the NASD OTCBB. At Cryopak, Mr. Rabiner was instrumental in fostering investor awareness; establishing media and analyst coverage and helping the company secure acquisition funding. Mr. Rabiner began his career as a journalist, covering local and MidEast news for the Jewish Bulletin newspaper, where he was also a columnist. He holds a BA in Political Science from the University of British Columbia.

IPOdesktop (ID) SAFE HARBOR STATEMENT: Statements contained in this document, including those pertaining to estimates and related plans, potential mergers and acquisitions, estimates, growth, establishing new markets, expansion into new markets and related plans other than statements of historical fact, are forward-looking statements subject to a number of uncertainties that could cause actual results to differ materially from statements made. ID provides no assurance as to the subject company's plans or ability to effect any planned and/or proposed actions. ID has no first-hand knowledge of management and therefore cannot comment on its capabilities, intent, resources, nor experience and makes no attempt to do so. Statistical information, dollar amounts, and market size data was provided by the subject company or its agent and related sources believed by ID to be reliable, but ID provides no assurance, and none is given, as to the accuracy and completeness of this information.

DISCLAIMER: The information, opinions and analysis contained herein are based on sources believed to be reliable but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. Past performance is no guarantee of future results. This report is a paid advertisement and is for information purposes only and should not be used as the basis for any investment decision. ID has been compensated one thousand five hundred dollars from the company for preparation and posting of this report, radio interview, and other advertising services. This constitutes a conflict of interest as to ID’s ability to remain objective in its communication regarding the subject company. Analysts, principals, associates and employees of ID do not own or trade equities under coverage. For detailed disclosure as required by Rule 17b of the Securities Act of 1933/1934 contact IPOdesktop, 11693 San Vicente Blvd., #350, Los Angeles, CA 90049. ID is not an investment advisor and this report is not investment advice. This information is neither a solicitation to buy nor an offer to sell securities but is a paid advertisement. Information contained herein contains forward-looking statements and is subject to significant risks and uncertainties, which will affect the results. The opinions contained herein reflect our current judgment and are subject to change without notice. We encourage our readers to invest carefully and read the investor information available at the web sites of the U.S. Securities and Exchange Commission (SEC) at http://www.sec.gov and the National Association of Securities Dealers (NASD) at http://www.nasd.com. The NASD has published information on how to invest carefully at its web site. Readers can review all public filings by companies at the SEC's EDGAR page.