Quadrem Selects Corio to Host Global Mining, Minerals and Metals eMarketplace; Leading Industry eMarketplaces Continue to Select Corio as Their ASP of Choice.

Business Editors/High-Tech Writers

DALLAS & SAN CARLOS, Calif.--(BUSINESS WIRE)--June 6, 2001

Quadrem(TM), the Mining, Minerals and Metals eMarketplace, today announced that it has selected Corio, Inc. (Nasdaq:CRIO), a leading enterprise application service provider, to host and manage its eMarketplace platform. Applications managed by Corio include MarketSet(TM), a joint solution from SAPMarkets and Commerce One, Requisite Technology BugsEye(TM) and eMerge(TM) solutions, and mySAP.com. Quadrem is the latest example of a leading industry eMarketplace that has chosen Corio as the ASP of choice for its hosted eMarketplace solutions.

MarketSet, the leading Internet marketplace solution, combines Commerce One's e-marketplace software solutions with top-rated SAP e-business applications. The joint offering provides an open e-marketplace solution for buying, selling and collaborative supply chain and engineering capabilities. Quadrem's platform will combine these eMarketplace solutions with Requisite's content management solutions and mySAP.com's financials, accounts payable and sales and distribution applications.

"With Corio's application expertise and sophisticated hosting infrastructure, we can focus our resources on building member participation and on developing our strategic product offerings to effectively deploy our e-commerce marketplace," said Vice President Technology, Ian Hollingworth. "Corio's end-to-end services and support will enable us to offer a comprehensive e-marketplace much faster and at a lower cost than building and supporting the infrastructure internally."

Quadrem is one of the world's leading eMarketplaces, representing the mining, mineral and metal industries. Quadrem's buying participants represent approximately $70 billion (USD) in procurement spend in the industry and are among the world's largest producers of aluminum, coal, copper, gold, iron ore, manganese, nickel, platinum, silver, zinc, and industrial minerals and metals.

"Our new relationship with Quadrem represents another important milestone for us," said George Kadifa, president and CEO of Corio. "We have experienced significant momentum with industry exchanges that look to Corio for world-class ASP services when time to benefit and project economics are important. In providing ASP services for eMarketplace customers like Elemica, ForestExpress, Enporion and now Quadrem, we have established ourselves as a leading service provider in the eMarketplace industry."

About Quadrem

Quadrem is the eMarketplace for the global mining, minerals and metals industries that is revolutionizing supply-chain processes and offering unrivalled benefits for sellers and buyers. It has been developed as a one-stop solution to meet the needs of this industry. Many of the world's leading resource companies, and their supply partners, are now integrating this Internet-based electronic transaction platform to implement their long-term eCommerce strategies.

For more information, visit: www.quadrem.com.

About Corio, Inc.

Corio (Nasdaq:CRIO), a leading enterprise application service provider, delivers, hosts and manages best-of-breed applications and infrastructure services for a monthly fee. Corio's application suite, the Corio Intelligent Enterprise, features leading vendors such as BroadVision, Commerce One, E.piphany, Moai, PeopleSoft, Oracle, Requisite, SAP and Siebel Systems. Corio's infrastructure suite, the Corio Intelligent Infrastructure, features modular application delivery and support services. Corio is headquartered in San Carlos. Additional information about Corio is available at http://www.corio.com.

FORWARD-LOOKING STATEMENTS:

Matters discussed in this release involving expectations, beliefs, plans, projections, intentions, or strategies are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities and Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, and are made under their safe-harbor provisions. Forward-looking statements herein include statements regarding Quadrem's offering; the ongoing relationship between Corio and Quadrem; the benefits of such a relationship to Corio and Quadrem; and the benefits of Corio's solution for exchanges generally. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Some of the specific factors that may cause actual results to differ include: the fact that internet-based exchanges are relatively new and the demand for these exchanges is uncertain; Corio's limited history of offering ASP services in general and exchange-related services in particular; any inability to address the significant complexities associated with hosting and integrating exchanges; the fact that we operate in a new industry with a rapidly-evolving business model; Corio's dependence on third party software vendors for the software necessary to provide its services and for the rights to provide hosting services, and the possible termination of its agreements with such vendors; and uncertainty around demand for Corio's exchange-related application services. Additional risks that could cause actual results to differ materially from those projected are discussed in Corio's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management's analysis only as of the date hereof. Corio undertakes no obligation to publicly release the results of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Note to Editors: Quadrem is a trademark of Quadrem International Ltd. Corio is a trademark of Corio, Inc. All other product and company names mentioned herein may be the trademarks of their respective owners.