Bassett Furniture's Albanese Joins Exclaim Technologies to Develop B2B Web Site.

Business Editors/High-Tech Writers

SAN JOSE, Calif.--(BUSINESS WIRE)--Feb. 17, 2000

Johne F. Albanese, formerly a senior executive at Bassett Furniture Industries Inc., has joined Exclaim Technologies as Vice President, Business Development for Furniture and Home Decor.

Note to Editors: Correct spelling of Albanese's first name is Johne.

Exclaim's Marketplace is the business-to-business (B2B) online trading site that serves manufactures and retailers in the furniture and home accessories industries. Albanese, 39, will lead Exclaim's development efforts in these vertical markets.

Albanese will be the senior Exclaim executive in its High Point, North Carolina office, and will be responsible for Exclaim's B2B development efforts in the furniture and home decor industries. Albanese will be meeting with industry leaders during High Point's Spring Market (April 6-14, 2000).

Albanese served for 18 years at Bassett (Nasdaq:BSET), a prominent manufacturer and marketer of branded home furnishings based in Bassett, Virginia. Most recently, as vice president, e-commerce and business development, Albanese was responsible for development and implementation of Bassett's e-commerce efforts, including the design of innovative channel strategies.

Previously, as Vice President, Retail Group, Albanese headed Bassett's retail efforts, including licensee support, acquisition and business development, marketing and merchandise incentives. Albanese also led Bassett's Corporate Stores division and directed its retail acquisition and development efforts.

&uot;It was difficult to leave Bassett, but I am tremendously excited by the B2B revolution that Exclaim is leading,&uot; said Albanese. &uot;The opportunity to develop an entire new way of doing business comes along maybe once in a career.&uot;

Albanese continued, &uot;We exist in a world that -- unbeknownst to many of its inhabitants -- has been irrevocably changed by the Internet. It is my belief that this new and extremely powerful tool will not only change how America communicates, but how it does business.&uot;

&uot;We're thrilled to have an executive with the stature of Johne Albanese join Exclaim,&uot; said Rick McEachern, Exclaim's president and chief operating officer. &uot;He brings to Exclaim nearly two decades of senior management experience from one of the furniture industry's top companies. Johne has a profound knowledge of supply chain economics.

&uot;Because he built Bassett's retail chain, he understands the needs and concerns of retailers, and as former head of Bassett's corporate stores, he also appreciates the needs and concerns of manufacturers.&uot;

McEachern continued, &uot;Johne was among the first in the furniture industry to understand e-business. He will develop a channel-friendly e-business strategy, centered on Exclaim's Marketplace, that will accelerate sales volume and reduce costs for all participants in furniture and home decor.&uot;

Exclaim Technologies is an Internet applications service provider (ASP). Exclaim develops B2B trading hubs that connect manufacturers and retailers and increase sell-through for both. Exclaim Technologies is a privately-funded, independently-managed company based in San Jose, in the heart of Silicon Valley (www.exclaim.net).