Agribuys Launches Office Down Under; Leading Global Food E-Commerce Company Establishes Local Presence in Australia and New Zealand.

Business Editors

TORRANCE, Calif.--(BUSINESS WIRE)--Aug. 16, 2000

Agribuys, a global provider of comprehensive Web-based services developed for the food industry, today announced the opening of its Australian subsidiary, Agribuys Australia Pty Ltd., in Sydney.

The offices in Sydney will also serve as the contact for businesses in New Zealand.

"Agribuys has had a presence in Australia for some time. The establishment of our wholly owned subsidiary solidifies our commitment to our international expansion in the Australian/New Zealand area and positions us to strongly support our domestic as well as the export/import market," said Marina Kotsianas, president and chief executive officer of Agribuys.

"The expansion is a strategic move designed to establish local offices around the world to better serve the retail, food service, food ingredients and import/export markets."

Michael O'Keeffe will act as managing director of Agribuys Australia Pty Ltd., overseeing all operations. He will be responsible for the implementation and integration of Agribuys' systems for major retailers in Australia and New Zealand.

"We are very excited to have Michael O'Keeffe spearhead our operations in Australia," added Kotsianas. "Michael is a recognized expert in supply-chain management, a published author as well as an exceptional practitioner of management value networks."

"There are two imperatives managers face in the perishable food industries -- to reduce the costs of doing business and to prepare for the next era of competition," said O'Keeffe. "When I was Produce Business Manager at Franklins, Agribuys was the only B2B that really understood the dynamics of the perishable food industries. I am delighted to join them in developing the market in Australia and New Zealand."

Prior to joining Agribuys, O'Keeffe was in charge of Produce for Franklins Ltd., Australia's third-largest food retailer, and head of Rabobank's Agribusiness Corporate Advisory Group. In addition to his appointment at Agribuys, O'Keeffe is an adjunct professor of Value Chain Management at the University of Queensland. He is also a council-member of the International Food and Agribusiness Management Association and is on the editorial board of Supply Chain Management, an international journal published in the United Kingdom. O'Keeffe's most recent work is "New Directions in Corporate Strategy," which was published by the Australian Graduate School of Management and Rabo Australia Ltd.

About Agribuys

With global reach, Agribuys provides the food industry with a menu of comprehensive Web-based services, all of which can be fully integrated into a company's existing information system, to augment the supply and demand network. The company recognizes that the transaction process starts long before the order is placed and ends long after the product is delivered. Only Agribuys provides a proprietary suite of software and services for the pre- and post-order processes. Led by an experienced team, the company delivers innovative solutions across multiple industries including seafood, meat, poultry, ingredients, coffee, dairy and produce.

Visit the site at www.agribuys.com or call 877/499-3052.