Agribuys Introduces New Supplier Pricing

Contact Agribuys:
Lisa Osborne
(310) 899-3370
LOsborne@youngcompany.com

Minos Athanassiadis
(310) 944-9655
Minos.Athanassiadis@agribuys.com

Innovative pricing allows companies to harness the benefits of supply chain management at a fraction of the normal cost of such systems

TORRANCE, CALIF, (April 26, 2002) - Agribuys, the leading web-based supply chain management technology in the food industry, today announced new pricing that makes its powerful, collaborative technology more accessible to sellers of fresh produce, meat, poultry, bakery, seafood, floral and deli products.

The cost to use the Agribuys e-procurement system is a simple, all-inclusive fee of $199 per month. This price includes unlimited usage with no transaction fees, an unrestricted number of users, unlimited data storage and customer support. Account set-up, training and technical support entail an initial setup fee of $995.

"Agribuys has now made the total cost of using our system transparent," said Vijay Yajnik, Agribuys president and CEO. "Our new pricing is both simple and economical, even for companies who felt they were unable to afford it in the past." He continued, "Customers tell us we offer the most comprehensive and proven menu of e-commerce services in the perishable food industry today. Our pricing, in conjunction with the release of Version 10.1 of our product, provides significant value to our supply-side clients."

Minos Athanassiadis, Agribuys vice president added, "Our new pricing has been received very positively by our Supplier Advisory Councils. The lower cost of adoption allows even small grower shippers access to the technology and value in using it." Agribuys has spearheaded the development of Supplier Advisory Councils consisting of a cross section of the supply community in the meat, produce and seafood industries. The councils guide the company`s thinking with regard to issues such as software functionality required by the supplier community and pricing for those offerings.

Marty Taylor, vice president sales at Mercer Ranches in Prosser Washington said: "We look forward to using the Agribuys technology. The produce industry has been making giant strides in catching up with the efficiencies of the Consumer Packaged Goods world and we look forward to getting some of that value through Agribuys."

About Agribuys

Agribuys is the premier supply chain integrator for the global food industry. Agribuys offers Internet-based solutions for demand planning and management, procurement, logistics, receiving and payment. These solutions improve the way organizations carry out transactions, use real-time information to make decisions, and build relationships with their supply chain partners. The Agribuys Online Marketplace provides a global hub that is optimized for trading perishable foods. Based in California, with offices in Australia, Asia, Canada, and Europe, Agribuys is rapidly expanding to further broaden its global procurement platform. The company is backed by Internet Capital Group (NASDAQ: ICGE). Its strategic partners include the WorldWide Retail Exchange (WWRE), the premier Internet-based business-to-business (B2B) exchange for retailers and their suppliers. The WWRE currently has 59 members including AEON Co., Ltd (TSE: 8267), Ahold (NYSE: AHO), Albertson`s (NYSE: ABS), Auchan, Casino (Parisbourse: 12558), Coop Italia, Coop Schweiz, Dansk Supermarked, Delhaize Group (BSE: DEL), Dairy Farm International, El Corte Ingles, Giant Eagle, H.E. Butt Grocery Company, Hy-Vee Inc., Marks & Spencer (LSE: MKS), Meijer, Inc., Publix Super Markets, REWE, Safeway Inc. (NYSE: SWY), Safeway plc (LSE: SFW.L), Seibu Department Stores Ltd., SUPERVALU INC. (NYSE: SVU), Target Corporation (NYSE: TGT), Tesco (LSE: TSC.OL), Wakefern Food Co., Wegmans Food Markets, Inc., Winn-Dixie Stores, Inc. (NYSE: WIN), Woolworths (ASX: WOW) with combined sales of U.S. $845 billion. For more information, visit the company`s website at www.agribuys.com or call 877.499.3052.

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