LAS VEGAS, May 20, 2002 (PRIMEZONE) -- PurchasePro (Nasdaq:PPRO) (Nasdaq:PPROD) today announced that it has extended HospitalityCity's (www.hospitalitycity.com) agency in the Pacific Rim for the company's e-Procurement, e-Source and materials management software solutions.
Headquartered in Singapore, HospitalityCity is the exclusive distributor of PurchasePro's suite of procurement products throughout the hospitality industry and an authorized re-seller to all other industries in Asia. The company re-sells PurchasePro's technology to businesses of all sizes, enabling organizations to connect, communicate and conduct business quickly, economically and more efficiently than before. HospitalityCity's key partners include Singapore Telecommunications and United Overseas Bank.
"Our relationships with worldwide distributors enable PurchasePro to expand its international reach and broaden the company's sales channel very cost efficiently," said Chris Benyo, senior vice president, PurchasePro. "As HospitalityCity grows, we expect them to become a major force in the software market throughout the Asia Pacific region."
PurchasePro also announced today that HospitalityCity successfully implemented its first private trading exchange in the Mandarin Hotel, located in Singapore. The Mandarin Hotel is a member of the Meritus Hotels & Resorts group. PurchasePro and HospitalityCity expect three additional Singapore-based hotel groups to deploy private e-marketplaces by the end of this year.
"We are proud to announce this first installation of a truly multi-functional private e-marketplace exchange in Singapore," said Gerry Lau, chairman and chief executive officer of HospitalityCity. "PurchasePro provides us with the procurement products and tools that bring significant purchasing efficiencies to any industry in the Pacific Rim."
The commitment provided by PurchasePro and HospitalityCity is testimony of the continued thrust into the Asia Pacific region using Singapore as the strategic hub to springboard into new and lucrative markets.
About PurchasePro
PurchasePro(R), www.purchasepro.com, is a B2B e-commerce leader with the objective of providing software to enable enterprises of all sizes to gain universal access to the world's largest commerce network. Founded in 1996, PurchasePro provides electronic procurement, materials management and strategic sourcing solutions to businesses worldwide.
About HospitalityCity
HospitalityCity, www.hospitalitycity.com, is a business-to-business e-Procurement enabler and service provider dedicated to the hospitality and leisure industry. The company's software tools and infrastructure enable buyers and suppliers in the hospitality and leisure industry to create e-Marketplaces, enabling businesses of all sizes to connect, communicate and conduct business quickly, economically and more efficiently.
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, 2001, which is 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.