PerformanceRetail Expands Executive Management Team

Paul Demery

Former Executives of Powered and BroadCloud to Support Accelerated Growth for Convenience Retail Software Leader

AUSTIN, TX, OCTOBER 21, 2003 - PerformanceRetail, Inc. the leading provider of web-based software for the convenience retail industry, announced today that Tony Reed, former president and CEO of Powered, Inc. and Dave Thompson, co-founder and CTO of BroadCloud Communications, Inc., have joined the PerformanceRetail executive team. Reed, as executive vice president, will lead PerformanceRetail’s aggressive efforts for sales and services revenue growth and Thompson, as vice president business development, will drive the company’s business and technology partnerships. These executive additions reinforce the ongoing acceleration and business growth of PerformanceRetail.

As executive vice president sales and services, Tony Reed brings PerformanceRetail over 20 years experience leading technology companies through numerous phases of growth, acquisitions and equity-related events. He joined Powered, Inc. in 2002 to guide the company`s expansion in the area of customer empowerment technologies and was the driving force behind the company`s growth strategy in that market. Prior to Powered, Reed was president and CEO of Liaison Technology, a developer of e-commerce content integration solutions; and COO of Globeset, a provider of secure electronic payment solutions. He also held previous executive management and technical operations positions at Check Point Software, Network Associates and Saber Software Corporation.

Dave Thompson brings to Performance Retail more than 18 years of technology and business development experience in the software and telecommunications industries. In his role as vice president business development, Thompson is responsible for PerformanceRetail`s business and technology partnerships, building alliances that simplify deployment and increase ROI for the convenience retailer. Prior to joining PerformanceRetail, David was a co-founder of BroadCloud Communications, Inc., an Austin-based communications technology company where he served as CTO. Prior to BroadCloud, he held technology leadership positions at Motorola, Siemens, Philips and E.F. Johnson. His background also includes network design and business development in the satellite communications (VSAT) industry, creating and implementing offerings for small-footprint retailers.

"Tony has a long track record of exceeding revenue targets and successfully taking companies to the next stage in their evolution. And, Dave has a proven background in aggressively building and growing partnerships." said Marc Hafner, president and CEO of PerformanceRetail, Inc. "Both bring the perfect balance of executive leadership and customer acquisition capabilities to PerformanceRetail as we aggressively ramp our revenue plans. We are excited and privileged to have attracted executives of their caliber to round out our management team."

"When choosing to join PerformanceRetail, I was immediately impressed by the quality of the team and the opportunity to create significant value in a large market that has been underserved by modern technology," added Reed. "We are already seeing opportunities to add 20-50 percent to the bottom line of convenience store retailers, or over $1 billion in additional profits in the U.S. alone. I look forward to leading the charge for revenue growth at PerformanceRetail."

"I am proud to be a member of the PerformanceRetail team," said Mr. Thompson. "This company has established itself as a leader in the c-store market with a customer-driven strategy, superior products and services and an experienced group of energized people."

About PerformanceRetail
PerformanceRetail is the leading provider of web-based software for the convenience retailing industry. InSite, the company`s integrated suite of retail software applications, enables retailers to improve the profitability and efficiency of key business processes such as merchandising, site operations, fuel management, performance analysis and financials. PerformanceRetail’s modular, hosted solutions and comprehensive services ensure customers realize value quickly while reducing upfront capital expenditures and ongoing support costs. By partnering with PerformanceRetail, industry leaders are transforming their retail operations into highly competitive, customer-driven profit centers. For more information, visit www.performanceretail.com.


business, business finance, Management, Radiant Systems, Retalix