At FTC Workshop CFOWeb's Harpal Sandhu Says 'Neutrality' is Key to Competition in B2B Electronic Markets.

Business/Internet Editors

WASHINGTON--(BUSINESS WIRE)--July 7, 2000

Harpal Sandhu, Chief Executive Officer of Integral, the developer of CFOWeb.com, speaking at last week's Federal Trade Commission (FTC) workshop: "Competition Policy in the World of B2B Electronic Marketplaces" said that most buyers list `neutrality' as a key component of e-commerce systems.

"A survey in March of this year of the 14,000 members of the Association of Financial Professionals (AFP), indicated that 43 percent will use electronic trading sites for sophisticated, capital markets transactions," Mr. Sandhu noted. "We believe that this figure will grow as financial professionals recognize the value of neutral sites, such as CFOWeb.com, that allow buyers to access from a single point of entry prices from multiple providers in an open, market-driven environment."

CFOWeb.com, the first neutral B2B e-commerce portal for capital markets, formally launched live pricing and trading operations last week. Inaugural providers included: ABN Amro; AIG International; Bank of America; BNP Paribas; and Standard Chartered. Banks added recently are Bank of Tokyo-Mitsubishi, Credit Agricole, Dresdner Kleinwort Benson and ING Barings.

The 2,500 corporate financial professionals and fund managers that have so far registered with CFOWeb.com are now able to bid out their capital markets business to one or all of the above providers on a 'reverse auction' basis, as well as accessing a range of online risk and portfolio management applications.

Mr. Sandhu, one of a select group of industry leaders presenting at the two-day FTC workshop, also noted that capital markets providers, especially international banks, were recognizing the value of neutral sites like CFOWeb.com as a way of augmenting or expanding their e-commerce sales and distribution networks.

Electronic marketplaces essentially allow buyers and sellers of similar goods to carry out procurement activities using common, industry-wide computer systems. "A neutral marketplace where both sides can enter into free and open exchange is the most efficient approach," Sandhu said. "CFOWeb.com is creating a new capital markets community of corporate finance executives and financial services providers where all manner of products, ideas and information may be exchanged."

About CFOWeb.com

Developed by Integral and formally launched for live trading on June 27th 2000, CFOWeb.com (www.cfoweb.com) is the first independent B2B e-commerce portal actively serving the capital markets needs of corporate treasury groups and fund managers with a free, direct and neutral source of information to model and price financial trades from multiple financial services providers. CFOWeb.com's 2,500+ members can also create, manage and maintain portfolios that more closely match institutional financial management needs and conduct a wide range of capital markets trades online. The CFOWeb.com portal offers direct access to latest news, market data and educational services for corporate treasurers and fund managers. CFOWeb.com also gives banks and financial services providers an immediate online presence, dramatically increased deal flow, reduced costs and expanded geographic reach.

About Integral

Integral Development Corp. is a leading provider of business-to-business e-commerce solutions for capital markets, including CFOWeb.com (www.cfoweb.com), the first e-commerce portal for capital markets. Founded in 1993, Integral is privately held and has a history of developing capital markets trading and risk management software. Investors include Accel Partners, AIG (NYSE: AIG), ABN Amro (NYSE: ABN), Bain Capital, Nassau Capital and Pivotal Asset Management. Headquarters are in Mountain View, California, with additional offices in New York and London. For more information, visit the Integral web site at www.integral.com

Note to editors: Photos of Harpal Sandhu's appearance at the FTC workshop on `Competition Policy in the World of B2B Electronic Marketplaces' (Washington DC - June 29-30, 2000) are available from the above mentioned contacts.

CFOWeb.com is a service mark of Integral Development Corp. CFOWeb.com facilitates communication and transactions between institutions but is not a party to, nor does it settle, any trade. Trade completion remains solely between the institutions using the CFOWeb.com portal.