Kurt Peters , Executive Editor
Keri Phifer, 703.234.5056
Lisa Kern, 858.385.8900
FOR IMMEDIATE RELEASE:
Retail Exchange Selects SourcingLink as a Preferred Partner for Strategic Negotiation Services to Members
ALEXANDRIA, VA and SAN DIEGO, CA, October 24, 2001, - - The WorldWide Retail Exchange (WWRE), the premier business-to-business exchange for retailers and suppliers, today announced a channel partner agreement with SourcingLink (NASDAQ - SNET), a leader in business-to-business merchandise sourcing for the retail industry. Through the alliance, the WWRE will endorse and provide SourcingLink`s strategic negotiation services globally to its members for their electronic sourcing activities.
The focus of the partnership will be the utilization of SourcingLink`s strategic negotiation services for online negotiations and auctions to enhance cost savings for WWRE members who are utilizing WWRE Negotiations and Auctions. SourcingLink`s professional consultants are already teaming up with WWRE product experts to begin deployment of the program.
"We selected SourcingLink as a preferred channel partner because of their distinct ability to deploy and deliver significant savings and ROI through their unique set of services and best practices," said WWRE CEO Colin Dyer. "Their knowledge and experience give WWRE an added dimension to the value we are delivering to our members."
SourcingLink and the WWRE Negotiations and Auctions team will work together to provide members with a variety of negotiations services, including pre-trade product and category analysis and auction event planning. Best practices around business process and analysis of auctions metrics will help members apply learnings toward future negotiation and auction events. SourcingLink will also work to help implement the WWRE Member Adoption Program (MAP).
SourcingLink CEO Dan Rawlings commented, "Our strategic negotiation experts have successfully conducted hundreds of online negotiations ? delivering significant savings on retail products across all categories, in countries around the world. SourcingLink is pleased that we have been selected to assist the WWRE in accelerating the delivery of immediate value to their retail members on a global basis."
SourcingLink (www.sourcinglink.net) is a leader in business-to-business merchandise sourcing, providing strategic services and hosted solutions that enable retail buyers and their suppliers from around the world to market, source and negotiate with speed and improved margin.
About the WWRE
The WWRE is the premier Internet-based business-to-business exchange in the retail e-marketplace. The Exchange was created with the fundamental purpose of reducing costs and improving efficiencies throughout the supply chain, employing product and service solutions typical of a global procurement and supply operation. Designed to facilitate and simplify trading between retailers, suppliers, partners and distributors, the WWRE currently consists of 59 retail industry leaders from Africa, Asia, Europe, North America and Latin America with combined sales of over U.S. $845 billion. To date, the WWRE has saved its members over $180 million through the use of online negotiations, its first product offering. For more information, visit the website at www.wwre.org or www.worldwideretailexchange.org.
SourcingLink information regarding forward-looking statements Any statements in this announcement about future events or results are preliminary and based on partial information and assumptions, and actual results may differ. The matters discussed in this announcement contain forward-looking statements that involve risks and uncertainties, including the successful development and deployment of new Web-based technologies, solutions and rating programs, the development and growth of markets targeted by SourcingLink, the acceptance of electronic collaborative solutions and services by retailers and vendors, the successful and timely rollout of the Company`s solutions and services by retailers and their suppliers, subsequent competition and the impact of supply chain exchanges, general economic conditions in the U.S. and abroad, and other risks detailed from time to time in the Company`s public disclosure filings with the U.S. Securities and Exchange Commission (SEC). Copies of the most recent forms 10KSB and 10QSB of SourcingLink are available upon request from its corporate office. SourcingLink expressly disclaims any obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or otherwise to revise or update any oral or written forward-looking statement that may be made from time to time by or on behalf of the Company.