WORLD COMMERCE ONLINE AND GE GLOBAL EXCHANGE SERVICES ANNOUNCE AGREEMENT FOR RETAIL E-COMMERCE SOLUTIONS
Orlando, FL., March 19, 2001 -World Commerce Online, Inc. (OTCBB: WCOL), a leader in technology business solutions for the global perishable and consumer product goods industries and GE Global eXchange Services, a leader in business-to-business Internet commerce, today announced that they will jointly market products and services to increase supply chain efficiency for the perishable agribusiness industry.
Under the agreement, World Commerce Online, Inc. (WCO) and GE Global eXchange Services (GXS) will work together to offer on a global basis GXS’s Electronic Commerce Service Center and Express Marketplace services, together with WCO’s agribusiness supply chain software products and portal services. These products and services are designed to enable members of the worldwide perishable and consumer product goods industries to drive costs from their supply chains.
“Through our agreement with GE Global eXchange Services, we plan to help retailers define the way they want to do business online, while at the same time allowing them to interconnect with vendors and third party exchanges around the world,” said Joe Dugan, President and CEO of World Commerce Online.
“One important goal of GXS’s alliance with World Commerce Online is to change the way retailers and their vendors view the future of e-business,” said Bob Brooks, GXS’s general manager for retail solutions. “The products and services our two companies will jointly offer are working today and are in use by customers both in the U.S. and Europe.”
About World Commerce Online
Founded in 1994, WCO (OTCBB: WCOL) is a technology company that enables businesses in the perishable products industries with e-commerce business solutions. With its Licensed and Managed Services business solutions, WCO provides a suite of web-enabled applications, which allow for trading and supply chain management over the Internet with existing or new business partners, provides its customers with access to global markets while providing maximum security and data integrity and complete control over sensitive business information. WCO’s Freshplex Technologies™ currently powers numerous Private and Branded Trading Communities throughout the global perishable products industries. WCO is headquartered in Orlando, Florida. For more information about WCO and its e-commerce business solutions, visit our corporate web site: www.wconet.com.
About GE Global eXchange Services
GE Global eXchange Services (GXS) operates one of the largest B2B e-commerce networks in the world, with more than 100,000 trading partners. The network’s 1 billion annual transactions account for more than $1 trillion in goods and services. With a presence in 58 countries, GXS applies Six Sigma quality processes to provide e-commerce solutions that help businesses around the globe drive cost from their supply chain. Headquartered in Gaithersburg, Md., GE Global eXchange Services is a part of the General Electric Company, U.S.A. (800) 560-4347. Visit our Web site at www.gegxs.com
This release is intended as a forward-looking statement within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company`s business include but are not limited to (i) The ability to provide e-commerce technology in the future, (ii) Unexpected changes in the e-commerce/internet market, (iii) The success of the Company`s expansion and sales and marketing strategies (iv) Competition within the e-commerce internet market (v) The ability of the Company to continue to finance its long-term strategy and expansion (vi) The ability of the Company to motivate and retain the services of its key personnel and hire additional qualified personnel to meet evolving staffing needs.
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