Commerce Planet, Inc. announced today that it continues to reduce corporate debt with cash from operations. CPNE cut corporate debt by over $1.75 million in 2006. $705,000 in June alone.

Commerce Planet CEO Michael Hill stated, "Over the past month, we've repaid $705,000 in debt from cash flow. As previously stated, during fiscal year 2006, we were looking to reduce our debt by 50% overall. We have certainly exceeded those 2006 initiatives by reducing our debt by about 70% year to date. We will continue to strive towards additional debt reduction through cash flow and earnings growth. We believe that these goals are attainable and look forward to a strong remainder of 2006."