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Rebound Offers Maximum Trust, Minimal Risk For Buyers of Excess Inventory; Both Vendors and Products Are Validated Through SGSonSITE.

Business Editors/High-Tech Writers

SAN FRANCISCO--(BUSINESS WIRE)--April 26, 2000

"Digital trust" is a critical factor for buyers of excess inventory who use online exchanges. Some of the key questions they raise are: "How do I know if the products are what they're supposed to be and in good condition when they arrive? How do I know if the products posted online are even real?"

Rebound, the world's premium online B2B exchange for first-quality excess consumer inventory, announced today that its clients will now have access to a full range of online services provided by Societe Generale de Surveillance, or SGS, the world's most trusted third-party inspector of goods. Rebound is the first in a pilot program involving five global B2B exchanges linked to the SGSonSITE program - "Safe Internet Trade Environment." Rebound has its own quality-control system to validate vendors who wish to post products on Rebound's site, thus enabling buyers to enjoy the maximum in trust and confidence in online transactions.

"Buyers of excess inventory are too busy to surf the Net all day for products," says James Griffis, chief operating officer of Rebound. "But they still want merchandise quickly to drive traffic to their stores. Unlike many online exchanges that are simply bulletin boards with vendor-posted products, Rebound is the one reliable source where 100 percent of the products listed are validated."

Rebound: Meticulous Pre-screening

When a vendor first applies for registration on Rebound's Web site (rebound.com), Rebound immediately assigns the individual to an account manager who is experienced in the vendor's industry, whether it is food, beverages, giftware or computers.

The account manager then calls the client and asks key questions about the product, how the vendor wants his or her products featured online and, most important, whether the vendor is the principal owner of the product and has the authority to put the product online. After the interview, Rebound's account manager checks out the client's business references and credit history. If the evaluation goes well, the vendor registers and posts products online. Buyers go through a similar evaluation process. Rebound's registration process takes approximately 24 hours from click-on to approval.

Clients use Rebound account managers as their own personal trade consultants and call on a 24/7 basis with questions about international trade regulations, Letters of Credit and other issues.

"All the information that Rebound has gathered on vendors and their products reduces downtime for buyers and streamlines the bidding process," says Neil Stepak, general manager, Rebound Canada, based in Vancouver, B.C. Stepak stresses that there are no hidden costs for buyers for Rebound services. He adds that Rebound's account managers are driven by success-based transactions and not by the volume of products they post on the site, which is a standard practice among other online exchanges.

The SGS Seal of Approval

The next step is a closer inspection of the products that go on the "auction block." Rebound forwards information it has gathered to SGSonSITE, a subsidiary of SGS, the world's leading quality-assurance and inspection company. Founded in 1878, SGS has more than 30,000 qualified inspectors in more than 140 countries.

"We are pleased to contribute to the operation of Rebound's `one-stop-shop,' " says Hal Loevy, vice president of global marketing and partnerships, SGSonSITE. "Rebound's integration of confidence-building services, aimed at verifying the quality and quantity of goods traded, demonstrates a commitment to customer satisfaction and the development of a seamless customer experience. We look forward to helping Rebound help its clients execute their transactions with confidence."

Rebound clients have access to four key services through SGSonSITE.

Vendor Rating Program: This rates vendors according to their ability to meet buyer requirements in terms of quality, reliability and trust. Vendors are rated with "seals of approval," starting with an "in-progress" seal through a "gold" seal, whereby vendors have had more than 10 on-site inspections.

Product Specification Sheets: SGS will verify product "spec" documents, which include information about product features and are listed next to each product on Rebound's site.

Product Sampling: SGS inspectors will visit a vendor's warehouse and take a random sample of the lot in question before the product is actually listed on Rebound's Web site. Once the product is posted, buyers can request a sample prior to bidding.

Pre-shipment Inspection: Once a transaction is complete, buyers can have SGS inspect the goods before they are shipped. Inspectors examine labeling, units shipped, packaging and other vital data related to the products.

Through its strategic partnerships and a solid commitment to quality assurance, Rebound is the one source that buyers and sellers of excess inventory can look to for integrity, credibility and trust.

Rebound (www.rebound.com) is the premier international business-to-business exchange for excess finished consumer products in such categories as apparel and accessories, household and lifestyle, computers and accessories, consumer electronics and food and beverage. It connects global clients in a secure, online environment with dedicated finance, logistics and quality assurance partners. Headquartered in Hong Kong and San Francisco, Rebound has offices in Taipei, Manila, Seoul, Bangkok, Tokyo, Vancouver and Miami. Buyers and sellers of excess finished consumer products should contact Rebound at (877) 351-7888 (in the U.S.) or (852) 2805-1885 (in Asia Pacific countries).
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Date:Apr 26, 2000
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