LAS VEGAS, Oct. 10, 2001 (PRIMEZONE) -- PurchasePro (Nasdaq:PPRO) today reported that in the period from September 11, 2001 through October 10, 2001, 22,000 purchase orders valued at $22 million were directed over the PurchasePro Commerce Network, compared with 31,000 purchase orders valued at $34 million in the month prior.
PurchasePro, which has seen a consistent increase in monthly purchase order volume this year, attributed the recent slowdown to the tragic events of September 11 and said that the volume during the month of October has been moving rapidly back to normal growth levels. Tracking the growth of purchase orders crossing the network since the tragedy, PurchasePro reported that in the week ended, September 15, 6,100 purchase orders valued at $7 million crossed the network, while in week ended, September 22, 4,700 purchase orders valued at $4 million flowed over the network. In the week ended September 29, following the tragedy, 5,020 purchase orders valued at $4.5 million crossed and for the week ended October 6, 5,700 purchase orders valued at $5.7 million crossed. For the two days ended October 9, 2,200 purchase orders valued at $2.4 million crossed the network.
The company also said today that as a result of its new advertising and marketing campaign, originating September 20, 2001, it has signed 24 e-Source pilots and received 126 corporate leads that are being qualified and followed.
In the third and fourth quarters, PurchasePro will run a total of 776 television spots across CNN's properties, including CNN, CNNfn, CNNSI, Headline News and CNN Airport. The ad illustrates PurchasePro's ability to reshape business purchasing practices and save companies millions of dollars through it strategic-sourcing software. To support the televised advertisements, the company also placed print advertisements in the November issues of Fortune and Business 2.0 and has initiated a direct mail campaign to assist it sales team in closing e-Source contracts.
About PurchasePro
PurchasePro(r), www.purchasepro.com, is a B2B e-commerce leader with the stated goal of providing software to enable enterprises of all sizes to gain universal access to the world's largest commerce network. The PurchasePro commerce network comprises more than 250,000 businesses, authorized to buy and sell, and powers hundreds of private-label marketplaces. PurchasePro provides the following B2B e-commerce solutions: e-Procurement for enterprise-wide procurement; e-Source for strategic sourcing, v-Distributor for online distributors; and e-MarketMaker for Internet market makers.
This news release may include forward-looking statements, which are subject to the ``Safe Harbor'' created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve certain risks and uncertainties that can cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements represent only the views of certain members of management and are based on limited information available to us now, which is subject to change. We have no current plan to update these statements. Actual results may differ substantially from what we say today and no one should assume at a later date that the forward-looking statements provided herein are still valid. They speak only as of today.
For more information about these risks and uncertainties, see the SEC filings of PurchasePro.com, Inc., including the section titled "Factors That May Affect Results" in its 10-K filing for the period ended December 31, 2000, and its 10-Q for the quarter ended June 30, 2001, which are available from the company on request and on the Internet at the SEC's Website, www.sec.gov. Note: PurchasePro is a service mark of PurchasePro.com Inc. All other trademarks or registered trademarks are the property of their respective owners.