Cardonet Names Joseph Prang, Former President of Aspect Development, as Chairman; Prang to Accelerate Growth at B-to-B Catalog Content Aggregation Firm.

Business/Technology Editors

SANTA CLARA, Calif.--(BUSINESS WIRE)--May 10, 2000

Cardonet, Inc. (www.cardonet.com), the definitive provider of catalog content aggregation solutions for business-to-business e-marketplaces, today announced the appointment of Joseph A. Prang as Chairman of its Board of Directors. As an accomplished executive, Mr. Prang brings more than 20 years of software operations and business services experience with a focus on B-to-B software and e-commerce companies.

Based on his experience with content databases spanning thousands of suppliers and millions of items, Prang envisions a successful future for Cardonet. "Cardonet's strong management team, innovative technology, and expertise in the market make it well-positioned to be a leader in the industry," according to Prang. "Cardonet's solution is capable of delivering aggregated supplier content on a 24 by 7 basis to the marketplace and presenting it in such a way as to make the purchasing process faster and simpler. This is essential to operating a successful e-marketplace."

Cardonet solves one of the most significant challenges e-marketplaces face -- how to create and manage catalogs that facilitate e-commerce among buyers and sellers. Cardonet's solution results in more reliable, structured product information that improves the transaction experience so essential to the success of e-marketplaces. Companies such as Asera, Epylon.com, and Idapta have adopted Cardonet's solution to enable transactive catalogs for their marketplaces.

"We are very pleased to have someone with Joe's background and experience lead our board. He understands our industry and the importance of catalog content aggregation, and recognizes the strength of our products, technology and business," stated Dr. Itay Meiri, Cardonet's CEO. "Joe will be actively involved in helping accelerate our plans to grow Cardonet into a world-class supplier of e-commerce catalog content solutions."

Prang is a "Mentor Capitalist" and principal partner for the Mentor Capital Group LLC which he founded. He currently serves on the boards of Rightworks, Click to Market and eWanted, and heads the advisory boards of Agile Software and Supply Base (i2). As president and COO of Aspect Development, he directed top line growth from $4 million to $100 million over a four-year period. Prior positions included president of the systems division of Cadence Design, Inc. and general manager of the production systems division of GenRad, Inc.

About Cardonet:

Founded in 1997 and headquartered in Santa Clara, Ca., Cardonet, Inc., (www.cardonet.com) combines unmatched expertise with superior technology to provide the definitive catalog content management solution for business-to-business e-marketplaces. Cardonet enables e-marketplaces to create and maintain transactive catalogs that enhance the buyer's experience, and increase marketplace transactions resulting in repeat customers and reduced time-to-market. Cardonet's growing list of leading customers and strategic partners include Ariba, Asera, Consolidated Commerce, Cross Commerce, Epylon, Idapta, Intershop, Sherwood Forest, and Yantra. Privately held, Cardonet is funded by leading venture capital firms including Sequoia Capital, Giza GE Capital and Yozma Venture Capital.