AOL And PurchasePro Announce Agreements With Information Markets Corp., InsureZone, and Chinadotcom Corp. for Netbusiness Marketplace.Business Editors/Hi-Tech Writers DULLES, Va. & LAS VEGAS--(BUSINESS WIRE)--April 3, 2001 New Marketplaces Expand Interconnected Network of Small, Medium and Large Businesses Buying and Selling Online Information Markets Corp. Also to Provide Co-Branded Small Business Advice Exchange to Netbusiness Marketplace, Giving Site Visitors Direct Access to Experts in Vertical Markets America Online See AOL. , Inc. and PurchasePro (Nasdaq:PPRO PPRO Personal Public Relations Officer (Church of Scientology) ), a leading enabler of business-to-business, e-commerce solutions for companies of all sizes, today announced agreements with Information Markets Corp. (IMC (Internet Mail Consortium, Santa Cruz, CA, www.imc.org) An industry trade association founded in 1996 by Paul Hoffman and Dave Crocker that promotes Internet e-mail standards and features. ), InsureZone and Chinadotcom Corp.to establish private-label marketplaces that will be interconnected with the Netscape Netbusiness Marketplace. In addition, IMC, a leading provider of fee-based question and answer marketplaces, will become a provider of expert small business advice for the Marketplace. The Netbusiness Marketplace, jointly developed by AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. and PurchasePro, is a global e-commerce network linking hundreds of communities and marketplaces to allow small, medium and large businesses to buy, sell and interact online. These new agreements dramatically expand the procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. and supplier communities currently participating in the Netbusiness Marketplace, which also encompasses more than 140,000 businesses from PurchasePro's extensive network of more than 290 private-label marketplaces. Netbusiness Marketplace also provides the opportunity for small to medium-sized companies to create specialized industry-specific marketplaces, providing a convenient one-stop location for buyers and sellers to conduct business online. The announcement also demonstrates the growing momentum of the joint sales, marketing and advanced product development operations recently implemented by AOL and PurchasePro in support of the Netbusiness Marketplace. Fred Singer Siegfried Frederick Singer (born September 27, 1924 in Vienna) is an electrical engineer and physicist. He is best known as President and founder (in 1990) of the Science & Environmental Policy Project, which disputes the prevailing scientific opinion on climate change. , SVP SVP S'il Vous Plaît (French: Please) SVP Senior Vice President SVP Schweizerische Volkspartei (Swiss People~s Party) SVP Society of Vertebrate Paleontology SVP Social Venture Partners SVP St Vincent de Paul of AOL Interactive Services and General Manager of Netscape Netbusiness said, "We are delighted to announce the addition of IMC, InsureZone and Chinadotcom Corp. - all leaders in their respective fields - to the ever expanding online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. and information communities available through the Netscape Netbusiness Marketplace. By further expanding the industry-specific and broad-based markets available to buyers and sellers from companies of all sizes, the effectiveness and relevance of the Netbusiness Marketplace increases exponentially ex·po·nen·tial adj. 1. Of or relating to an exponent. 2. Mathematics a. Containing, involving, or expressed as an exponent. b. . We can help small businesses expand their growth opportunities and open entire new distribution and procurement channels for our larger participants." Chris Benyo, SVP of Marketing of PurchasePro, said, "The combination of PurchasePro's industry-leading e-commerce technology with AOL's vast consumer and small business customer base is a powerful draw for companies looking to create branded e-marketplaces that foster content, community, and commerce for the small to mid-sized business market. These new partners illustrate the scalability of our solution to power businesses of all sizes and interconnect hundreds of branded marketplaces." Today's announcement includes agreements with industry leaders to create unique vertical marketplaces, including Information Markets Corp. (www.infomarkets.com), the leading provider of fee-based online question and answer marketplaces; InsureZone (www.insurezone.com) a full-service, nationwide "bricks and clicks" marketplace -- backed by an independent insurance agency -- that provides fast, easy access to commercial insurance from highly rated carriers; and Chinadotcom Corp. (www.corp.china.com) a leading integrated Internet company offering e-business solutions, portal and e-marketing services. The new agreements announced today follow on the heels of ten other strategic marketplace deals announced last week, including those with Hewlett-Packard Company, BroadVision, Inc. and Spherion Corporation, to accelerate AOL's and PurchasePro's B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business and e-commerce efforts. Last week's press release can be viewed at (http://home.netscape.com/newsref/pr/newsrelease0328a01.html). In addition to creating a private-label solution accessible through Netbusiness Marketplace, IMC will also be enhancing the Marketplace's functionality and content. By providing a customized Q&A solution for the MyBusiness, Finance, Human Resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. and Marketing channels on Netbusiness, IMC will allow users to ask questions related to small business, their vertical industry or other topics. Experts will answer and provide professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. , at times negotiating a fee, and users can also share their own advice and get paid for it, making this an open expert advice exchange. Netscape Netbusiness is driving small business membership on the Marketplace through its popular Netbusiness Card, which provides detailed information about each member's products, services, location and industry classification to millions of potential customers online. All current and new Netbusiness Card members are automatically registered in the Marketplace and are also eligible to win one million AOL/AAdvantage Reward miles being offered by Netbusiness as part of a major three-month promotional campaign. About Netscape Netbusiness Launched by AOL and Netscape in September 2000, Netscape Netbusiness (http://netbusiness.netscape.com) provides a free, one-stop home on the Internet to enable owners of small businesses to better manage both their operations and everyday lives. Netbusiness offers easy-to-use and fully customizable information resources (1) The data and information assets of an organization, department or unit. See data administration. (2) Another name for the Information Systems (IS) or Information Technology (IT) department. See IT. , productivity and communications tools including message boards and custom Netbusiness version of Netscape Instant Messenger AOL's instant messaging service. See AIM and instant messaging. , and a free online presence with the innovative "Netbusiness Card", which enables registered users to create an "online storefront A store on the Internet that offers items for sale and is capable of handling the financial transaction online. See cybermall and digital money. " for free. About America Online, Inc. America Online, Inc. is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of AOL Time Warner, Inc. Based in Dulles, Virginia Dulles, Virginia is an unincorporated census-designated place located in Loudoun County, Virginia, part of the Washington Metropolitan Area. The headquarters of AOL, Orbital Sciences Corporation and ODIN technologies and the former headquarters of MCI Inc. are located in Dulles. , America Online is the world's leader in interactive services, Web brands, Internet technologies and e-commerce services. About PurchasePro PurchasePro (Nasdaq:PPRO), a leader in business-to-business e-commerce, operates the PurchasePro global marketplace, encompassing more than 140,000 businesses and powering hundreds of private-label marketplaces with its highly scalable, browser-based e-commerce engine. PurchasePro's solutions enable businesses of all sizes to easily buy and sell products and services, and compete more effectively by enhancing sales opportunities, reducing procurement costs and greatly increasing employee productivity. PurchasePro provides the following business-to-business e-commerce solutions: e-Procurement for corporate procurement, v-Distributor for online distributors, and e-MarketMaker for Internet market makers. PurchasePro has developed strategic sales and marketing relationships with industry leaders including America Online, Computer Associates, Gateway, Hilton, Office Depot Office Depot (NYSE: ODP) is one of the world's leading suppliers of office products and services. The Company's selection of brand name office supplies includes business machines, computers, computer software and office furniture, while its business services encompass copying, , and Sprint. The company provides extensive support and training programs. For information, call toll free at 888/830-4600 or in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. at 702/316-7000 or visit www.purchasepro.com. This press release includes forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , which are subject to the "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements (which involve the company's plans, beliefs and goals, refer to estimates or use similar terms) involve certain risks and uncertainties, including the risks and uncertainties associated with rapidly changing technologies such as the Internet, the Internet, the, international computer network linking together thousands of individual networks at military and government agencies, educational institutions, nonprofit organizations, industrial and financial corporations of all sizes, and commercial enterprises risks of technology development and the risks of competition that can cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements represent only the views of certain members of management and do not necessarily represent a consensus of all employees and managers within the company. Moreover, those forward-looking statements are based on limited information available to us now, which is subject to change. It should be clearly understood that the factors and perceptions on which these forward-looking statements are based are highly likely to change over time and that we have no current plan to update these statements. Actual results may differ substantially from what we say today and no one should assume at a later date that the forward-looking statements provided herein are still valid. They speak only as of today. For more information about these risks and uncertainties, see the SEC filings of PurchasePro Inc., including the section titled "Factors That May Affect Results" in its 10-K filing for the period ended December 31, 1999, and its 10-Q for the quarter ended September 30, 2000, which is available from the company on request and on the Internet at the SEC's Web site, www.sec.gov. Note to Editors: PurchasePro is a servicemark of PurchasePro.com Inc. All other trademarks or registered trademarks are the property of their respective owners. |
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