Agribuys Announces Data Integration With the QuickBooks 2002 Products.

Business Editors

TORRANCE, Calif.--(BUSINESS WIRE)--Feb. 19, 2002

New data-sharing capabilities between Agribuys and QuickBooks(R)

Pro 2002 and Premier 2002 eliminate need for double data entry

Agribuys, the leading supply chain integrator for the food industry, today announced it now features data integration with the latest versions of Intuit's small business financial management software, including QuickBooks Pro 2002 and QuickBooks Premier 2002.

These new data-sharing capabilities between Agribuys' software and the QuickBooks 2002 products will enable suppliers to automatically exchange critical information, such as purchase orders and invoices, between the two applications, thus eliminating the need for double data entry.

In conjunction with the launch of Version 10.0 of its website, Agribuys is proceeding rapidly towards its goal of providing end-to-end integration functionality with most existing back-office systems, thereby delivering to trading partners the maximum benefits of supply chain integration. This announcement is welcome news for the supplier community, of which more than 15 percent use QuickBooks as their primary accounting system.

"We see seamless data synchronization as the key business challenge for our clients and their trading partners," said Marina Kotsianas, Agribuys' CEO and chairman. "With this adapter, we move closer to our goal of facilitating smooth data flow in the industry."

"Based on proven technology, Agribuys has been able to employ a standards-based integration adapter solution offering the benefits of streamlined communication and exchange of mission-critical data between trading partners," said Dhruba Kalita, Agribuys' co-founder and CTO.

The 2,300+ suppliers on the Agribuys system have utilized a variety of integration options that support machine-to-machine data exchange and synchronization.

"Intuit recognizes that small business owners juggle many daily tasks and are constantly looking for ways to streamline their operations," said Esther Kruijver, director of the Intuit Developer Network. "Enabling the exchange of data between Agribuys' application and the QuickBooks 2002 products will help smaller suppliers save time and manage their resources more efficiently, allowing them to spend more time actually running their business."

About Agribuys

Agribuys is the premier supply chain integrator for the global food industry. Agribuys offers Internet-based solutions for demand planning and management, procurement, logistics, receiving and payment. These solutions improve the way organizations carry out transactions, use real-time information to make decisions, and build relationships with their supply chain partners. The Agribuys Online Marketplace provides a global hub that is optimized for trading perishable foods. Based in California, with offices in Australia, Asia, Canada, and Europe, Agribuys is rapidly expanding to further broaden its global procurement platform. The company is backed by Internet Capital Group (Nasdaq: ICGE). Its strategic partners include the WorldWide Retail Exchange (WWRE), the premier Internet-based business-to-business (B2B) exchange for retailers and their suppliers. The WWRE currently has 59 members including AEON Co., Ltd (TSE: 8267), Ahold (NYSE: AHO), Albertson's (NYSE: ABS), Auchan, Casino (Parisbourse: 12558), Coop Italia, Coop Schweiz, Dansk Supermarked, Delhaize Group (BSE: DEL), Dairy Farm International, El Corte Ingles, Giant Eagle, H.E. Butt Grocery Company, Hy-Vee Inc., Marks & Spencer (LSE: MKS), Meijer, Inc., Publix Super Markets, REWE, Safeway Inc. (NYSE: SWY), Safeway plc (LSE: SFW.L), Seibu Department Stores Ltd., SUPERVALU INC. (NYSE: SVU), Target Corporation (NYSE: TGT), Tesco (LSE: TSC.OL), Wakefern Food Co., Wegmans Food Markets, Inc., Winn-Dixie Stores, Inc. (NYSE: WIN), Woolworths (ASX: WOW) with combined sales of U.S. $845 billion. For more information, visit the company's website at www.agribuys.com or call 877/499-3052.

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