DynamicWeb Achieves EDIxchangeBuy Subscriber Milestone
DynamicWeb Enables Its Clients to Conduct Business-to-Business Internet E-Commerce With More Than 900 Suppliers
FAIRFIELD, N.J.--(BUSINESS WIRE)--July 20, 1999--DynamicWeb(TM) Enterprises, Inc. (OTC BB: DWEB), an Internet business-to-business E-commerce enabler, announced today that the number of client suppliers subscribing to its EDIxchangeBuy(TM) electronic procurement service topped 900 through the end of the fiscal third quarter ended June 30, 1999.
Among the major buying organizations that are DynamicWeb clients utilizing EDIxchangeBuy to conduct electronic procurement with their suppliers include: GTE Supply (NYSE: GTE - news), Linens 'N Things (NYSE: LIN - news), Rite Aid Corporation (NYSE: RAD - news), Service Merchandise (NYSE: SME - news), and Southern New England Telephone (NYSE: SBC - news).
''One look at the valuations placed on Ariba (NASDAQ: ARBA - news) and CommerceOne (NASDAQ: CMRC - news) demonstrates a new found awareness amongst investors of the vast potential for Internet b-to-b E-commerce. Although Wall Street has only recently caught on, this has been our core business since our inception,'' said Steve Vanechanos, Jr., Chairman and CEO of DynamicWeb.
''And we've effectively used that time to establish one of the largest Internet procurement networks with over 900 suppliers and 6 major buying organizations. In addition to enabling the exchange of routine business documents like purchase orders and invoices, EDIxchangeBuy enables other supply chain integration applications such as Vendor Managed Inventory and Collaborative Planning Forecasting and Replenishment,'' he added.
About DynamicWeb Enterprises
Located in Fairfield, NJ, DynamicWeb Enterprises, Inc. is the developer and operator of EDIxchangeNetwork(TM), a business-to-business electronic trading network. DynamicWeb's EDIxchangeNetwork supports EDIxchangeBuy, which provides an Internet-based electronic procurement solution for Fortune 1000 companies. EDIxchangeNetwork also supports EDIxchangeOutsource(TM), a service that manages electronic trading compliance complexity for its
subscribers by allowing them to define their preferred document formats.
This press release contains forward-looking statements. All such statements involve risks and uncertainties, including, without limitation, the risks in DynamicWeb's filings and reports with the Securities and Exchange Commission. Such statements are only predictions and actual events or results may differ materially.
This release and prior releases are available on the KCSA Public Relations Worldwide website at www.kcsa.com
Contact:
DynamicWeb Enterprises, Inc., Fairfield
Steve Vanechanos Jr., CEO
973/276-3107
or
KCSA, New York
Joseph A. Mansi/Robert Giordano
212/682-6300, ext. 205/289
DISCLAIMER: DWEB_IR is the official voice of DWEB. In fact DWEB_IR is the Investor Relations Department of DynamicWeb Enterprises, Inc.
Additionally, this is not an offer to sell or a solicitation to buy DynamicWeb securities. For additional information, see the Company's periodic SEC filings which can be found at www.sec.gov (edgar data base). |
