Aerospan.com Consummates First-Year Anniversary With Global Customer Base; Focusing On Global Expansion and Regional Presence.

Business Editors

WOOD DALE, Ill.--(BUSINESS WIRE)--Feb. 15, 2001

Having reached its one-year calendar anniversary, Aerospan.com has established itself as a leading e-marketplace for the US$100bn air transport industry. It is the only e-marketplace with contracts with airlines to the extent that the complete parts procurement process can be consummated online.

"We had an exceptional first year in this marketplace. We have established an extensive global base of suppliers and buyers, and we have signed customers in every continent," commented Duncan Alexander, CEO, Aerospan.com. "We also fulfilled our promise of offering a real e-business solution that provides real value for users today."

Aerospan's global customer base includes more than 45 airlines including JAS, Kuwait Airways, Royal Brunei and Taag Angola, actively using the e-marketplace with loaded inventory from 43 suppliers including Turbo Resources International, AAR and Marshall Aerospace, and more than 877,000 line items, representing 320 million parts. Aerospan's parts inventory listing is growing at more than 300 percent per month.

"I firmly believe that we have the best product that delivers the greatest benefit to our customers. When you watch our trading screens and see two companies that have never done business together before such as Royal Brunei complete a transaction with Turbo Resources that is based in Phoenix it gives you a real thrill. These trades are industry firsts as not a single phone call, fax or e-mail is required. It is pure electronic commerce," says Alexander.

Moving into its second year of operation, Aerospan will implement a globalization and regionalization strategy. Planned in this strategy is the opening of several offices around the world, including Dubai, Singapore, London and Miami. With these offices, Aerospan will be one of the first exchanges to establish regional bases and offices, providing customers with global access next door. Staff in the international offices will provide customer support and training, while also undertaking regional sales, marketing and administrative support for all air transport organizations based in the region.

Established, operational and independent, Aerospan has an agreement with Extricity to implement global Enterprise Resource Planning (ERP) integration capabilities and seamlessly link with users' operational systems to streamline business processes. Aerospan features already include spare parts inventory listing services, online availability of spare part traceability documentation and multiple ways to buy and sell including directly from inventory, requests for quotes (RFQs), direct negotiation, buying from the original equipment manufacturer (OEM) and seller or reverse auction.

Aerospan leverages SITA's global Internet Protocol network, its Aeronet industry extranet and its IT and e-business solution capabilities and offers unmatched levels of industry ownership and neutrality. Through their membership of SITA the air transport companies using Aerospan will qualify for additional equity in SITA's new commercial venture, SITA INC, in accordance with the company's equity participation scheme.

"We have a unique proposition to the SITA community. Not only do they receive the dramatic process efficiencies of our e-market, but also through collaborative participation, SITA members can build value in both SITA and Aerospan for the entire industry" said Alexander. "Combine this with the wide range of SITA e-business solutions, and we can truly bring e-business to the place of use for the industry. The outlook for 2001 for Aerospan is already looking bright."

About Aerospan.com

Aerospan.com is the most comprehensive, neutral e-marketplace for the global US$100bn air transport industry. Its technical procurement e-marketplace offers specific industry functionality. Aerospan will continue to lead by expanding and extending its portfolio, enabling customers to improve the efficiency and effectiveness of their operations. Aerospan also helps improve customers' profitability by streamlining transactions and operations while reducing both inventory levels and costs. With its regional office structure and worldwide client base, Aerospan is positioned to be the industry's leading global player. Aerospan has developed history, experience, unparalleled neutrality and long-term focus and continues to leverage the global network and IT solutions capabilities of SITA, majority owner of Aerospan. Headquartered in Chicago, Illinois, Aerospan is established, operational and independent. Further information can be found at http://www.aerospan.com.