Company Press Release
Netgateway to Provide Business-to-Business eCommerce Site for CB Richard Ellis Inc.
LONG BEACH, Calif.--(BUSINESS WIRE)--March 30, 1999--Netgateway Inc. (OTC BB:NGWY - news) Tuesday announced that it has reached an agreement with CB Richard Ellis (NYSE:CBG - news), one of the world's largest real estate services companies, to develop, manage and service a business-to-business eCommerce site for CB Richard Ellis' Strategic Purchasing Program.
The Strategic Purchasing Program (''SPP'') includes: CB Richard Ellis corporate purchasing, The Service Direct Advantage tenant purchasing program and the Asset Services/Facilities Management Global purchasing program. The mission of the SPP is to leverage the global purchasing power of CB Richard Ellis, its tenants and clients to deliver significant savings of time and money.
CB Richard Ellis had previously announced the start of the ''Service Direct'' tenant program to offer clients discounts on broad categories of products and services, including office furniture, computers, auto rentals and paper supplies, among others. This value-added program was designed specifically for the real estate firm's 25,000 annual brokerage clients, 40,000 tenants and their employees.
Netgateway's system will allow these users to place a single order through their Internet browser that will be fulfilled by numerous vendors, thus saving time and money.
CB Richard Ellis will also use the Netgateway ICC platform to support the corporate purchasing by its 10,000 employees in 300 offices and its Asset Services and Facilitates Management building related purchasing for the 415 million square feet of space CB Richard Ellis currently manages.
''We are naturally delighted to have CB Richard Ellis as a client,'' said Keith D. Freadhoff, Netgateway's CEO. ''We are a unique Internet commerce service bureau, offering viable and robust services for business-to-business eCommerce. We allow companies to focus on their core businesses and, as with CB Richard Ellis, provide an advantage in a highly competitive business environment, reducing operating and delivery costs.''
According to Craig T. Stevens, Senior Managing Director, ''The Internet has provided us both an opportunity and a challenge. We have chosen to embrace the Internet and eCommerce as a viable business tool that will allow us to become more efficient, increase our value to our clients and create another sustainable competitive advantage as we navigate this new world.
''The Netgateway ICC service platform has the features we need and the transactional pricing structure was very attractive to us,'' added Stevens.
CB Richard Ellis (www.cbrichardellis.com) is the world's leading real estate services company. With headquarters in Los Angeles and with nearly 10,000 employees worldwide, the company serves real estate owners, investors and occupiers through more than 230 principal offices in 30 countries.
Services include property sales and leasing, property management, corporate advisory services and facilities management, mortgage banking, investment management, capital markets, appraisal/valuation, research and consulting. CB Richard Ellis had 1998 revenues of more than $1 billion.
Netgateway (www.netgateway.net) is a full-service electronic commerce provider, delivering fully integrated eCommerce services designed to enable companies of any size to extend their business to the Internet on a service bureau business basis.
Netgateway operates the proprietary Internet Commerce Center that is the only resource enabling companies to connect into an existing, centralized infrastructure supported by related technical services. It thus delivers fully integrated eCommerce services that eliminate the need for its customers to make large up-front investment in hardware, software and technical staffing.
Netgateway is located at 300 Oceangate, Suite 500, Long Beach, Calif. 91030.
Statements made in this news release that relate to future plans, financial results, market growth, projected market patterns, or other projections, events or anticipated performance are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Actual results may differ materially due to a variety of factors, including but not limited to, potential competition from competitors with more resources than Netgateway or CB Richard Ellis. Information about certain of those factors is contained in Netgateway's most recently filed Form 15c2-11. Copies of the most recent Form 15c2-11 report are available from Netgateway's Investor Relations department and may be obtained by calling or writing.
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Contact:
Netgateway Inc., Long Beach
Chris Hayes, 562/308-0010, ext. 131
e-mail: chayes@netgateway.net
or
CB Richard Ellis
Craig T. Stevens, 949/955-2015, ext. 136
e-mail: cstevens@cbrichardellis.com
or
Anreder Hirschhorn Silver and Co.
Steven S. Anreder, 212/532-3232
e-mail: sanreder@ahsandco.com
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and News: CB Richard Ellis Services, Inc (NYSE:CBG - news)
Netgateway Inc (OTC BB:NGWY - news)
Related News Categories: computers, internet, real estate
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