Cadence Names Madeleine Ludlow To CFO Post; Veteran Finance Executive Brings Wall Street, Mergers & Acquisition Experience to Cadence During Time of Record Growth.

Business Editors, High Tech Telecommunications & Energy Writers

CINCINNATI--(BUSINESS WIRE)--June 2, 2000

Cadence Network, Inc., the largest Web-based provider of site operating cost management services for multi-site enterprises, today announced that Madeleine W. Ludlow has joined the company as chief financial officer.

Ludlow joins Cadence from Cinergy Corp. (NYSE:CIN) and brings extensive Wall Street experience and in-depth understanding of the transforming energy markets to her new role with Cadence. As CFO, Ludlow will oversee Cadence's financial assets management, strategic partnering, mergers and acquisitions and human resources development.

"Cadence is clearly positioned as the market leader in managing operating costs for multi-site customers," said Mark Shunk, president and CEO of Cadence. "Our success and growth warrants the addition of an accomplished finance executive to the Cadence team and Madeleine is an excellent fit for our organization. Her familiarity with and enthusiasm for our proven business model will be a great asset as Cadence moves forward."

Ludlow most recently served as vice president and chief financial officer for Cinergy Corp., one of the nation's leading diversified energy companies. In a career spanning more than 20 years, she has held several key roles in the energy and financial communities, including nine years at Morgan Stanley & Co. Inc.

"Madeleine's mergers and acquisition experience and Wall Street background make her the ideal fit for Cadence's growth initiatives," said Bill Doyle, managing partner of Insight Capital Partners, a global private equity firm and Cadence investor. "Her leadership and experience is perfectly aligned to help Cadence continue its strong track record of success."

Added Ludlow: "Cadence has enjoyed rapid growth since it was formed three years ago. I look forward to being part of the team as it continues to raise the bar of performance for its customers and stakeholders."

Cadence Network, Inc. is a B2B e-commerce firm that helps multi-location companies control enterprise-wide site operating costs--such as energy and telecommunications. Customers include Blockbuster, Winn Dixie, Papa John's, Motel 6, Service Merchandise and Burger King, among others. The Company currently impacts the essential-service purchases of over 70,000 individual locations in North America in a variety of industries including retail, grocery, hospitality, financial services and restaurants. Cadence investors include Insight Capital Partners, MSD Capital (the private investment firm for Michael Dell), Cinergy Corp., Florida Progress and New Century Energies. For more information, call 513.763.3112 or visit Cadence online at www.cadencenetwork.com.