PurchasePro.com Named to Russell 2000 Index
LAS VEGAS, Jul 6, 2000 /PRNewswire via COMTEX/ -- PurchasePro.com (Nasdaq:
PPRO), the leader in browser-based, business-to-business e-commerce solutions,
announced today that it has preliminarily been named a new member of the Russell
2000 Index, a leading stock market benchmark index of the Tacoma, Wash.-based
Frank Russell Company.
"This is the true recognition of our Company's growth resulting from our
leadership position in the browser-based business-to-business e-commerce arena,"
said Jim Clough, chief financial officer at PurchasePro.com.
The Russell 2000 is a wide-spectrum index that encompasses a majority of the
investable securities in the United States. Widely regarded as a broad market
benchmark index, the Russell 2000 is closely followed and modeled by investors,
analysts and mutual funds around the world. More than $177 billion is invested
in Russell-index based funds. Also, options and futures on the Russell indexes
are traded on world leading exchanges such as the New York Board of Trade,
Chicago Mercantile Exchange and the Chicago Board Options Exchange.
About PurchasePro.com
PurchasePro.com, Inc., a leader in Internet business-to-business e-commerce,
operates the PurchasePro.com exchange encompassing more than 21,000 businesses
and powers 155 private marketplaces with its highly scalable, browser-based
e-commerce engine. The PurchasePro.com exchange and the private marketplaces
employing its technology make it easy for businesses of all sizes to buy and
sell a wide range of products and services. PurchasePro.com enables businesses
to compete more efficiently by meaningfully reducing procurement costs and
greatly increasing employee productivity.
PurchasePro.com offers the fastest e-marketplace solutions in the industry
designed for important market segments -- e-Procurement for corporate
procurement needs, v-Distributor for online distributors, and e-MarketMaker for
Internet market makers.
A key element of PurchasePro.com's strategy is to develop sales and marketing
relationships with industry leaders including AOL, Hilton, IBM, Office Depot,
Inc. and Sprint Corp. The company provides extensive support and training
programs. For information call toll free at 888-830-4600 or in Las Vegas at
702-316-7000 or visit www.purchasepro.com.
This press release includes forward looking statements which are subject to a
number of risks and uncertainties, including the risks and uncertainties
associated with rapidly changing technologies such as the Internet, the risks of
technology development and the risks of competition. Actual results could differ
materially. For more information about these risks and uncertainties, see the
SEC filings of PurchasePro.com, Inc., including the section entitled "Factors
That May Affect Results" in its 10-K filing for the period ended December 31,
1999 and its 10-Q for the quarter ended March 31, 2000, which is available from
the company on request and on the Internet at the SEC's Website, www.sec.gov.
SOURCE PurchasePro.com, Inc.
CONTACT: Anthony Timmons, Manager of Public and Investor Relations,
atimmons@purchasepro.com, or Jim Clough, jim.clough@purchasepro.com, both of
PurchasePro.com, Inc., 702-316-7000; or Brooke Deterline, Vice President of
Blue Shirt Group, 310-785-9002, or brooke@blueshirtgroup.com, for
PurchasePro.com, Inc.
URL: blueshirtgroup.com
purchasepro.com
prnewswire.com
(C) 2000 PR Newswire. All rights reserved. |
