Global eXchange Services appoints Gary Greenfield as President and CEO.

Business Editors/High-Tech Writers

GAITHERSBURG, Md.--(BUSINESS WIRE)--Dec. 2, 2003

Global eXchange Services, Inc. today announced the appointment of Gary Greenfield to the position of President and Chief Executive Officer. He succeeds Harvey F. Seegers, who has resigned the position he held since the company's acquisition by Francisco Partners in September of 2002.

Mr. Greenfield brings to Global eXchange Services a wealth of experience in managing and growing large multinational technology businesses. He joins Global eXchange Services after most recently serving as Chief Executive Officer of Peregrine Systems, a global leader in consolidated asset and service management software, where he managed the business from July of 2002 through August of 2003. Prior to joining Peregrine, Gary was president and CEO of MERANT, a publicly traded e-business development solutions company, from November 1998 to October 2001. As CEO of INTERSOLV before this, Gary oversaw the merger with Micro Focus to form MERANT in 1998. He had held several operating positions at INTERSOLV since 1987, including EVP of Product Development and EVP of Product Operations. Gary has experience growing businesses organically and through acquisition, managing development, marketing and operations, and serving diverse sets of customers from small businesses to the Fortune 500. Mr. Greenfield serves on the Board of Directors of Hyperion Solutions, Mobius Management Systems, Managed Objects and is chairman of Intellitactics. He is also a member of the board and past chairman of the Information Technology Association of America.

"We have known Gary for many years," said David Stanton, Chairman of Global eXchange Services and Managing Partner of Francisco Partners, Global eXchange Services' largest shareholder, "and are thrilled to have him bring his technical and operational depth to Global eXchange Services." Praising Seegers for his contributions to Global eXchange Services, Stanton added, "The board thanks Harvey for his work in building Global eXchange Services to where the Company is today, and we wish him well in his future endeavors."

Mr. Seegers had managed Global eXchange Services while it was a subsidiary of The General Electric Company from 1996 until it was acquired by Francisco Partners. He had been at GE in various roles since 1991 and had been an officer of GE since 1997.

About Global eXchange Services

Global eXchange Services, Inc. operates one of the largest B2B e-commerce networks in the world, managing 1 billion transactions annually for more than 100,000 trading partners. With more than 35 years experience, Global eXchange Services provides supply chain services and software to 60% of Fortune 500 companies. Global eXchange Services is headquartered in Gaithersburg, MD. Call [phone] or visit our Web site at http://www.gxs.com.

Caution Concerning Forward-Looking Statements 

This document includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. These factors include technological developments, customer demand, trading partner participation and network availability.