LAS VEGAS, June 4, 2002 (PRIMEZONE) -- PurchasePro (Nasdaq:PPROD) today officially announced the appointment of Thomas H. Lowe, senior vice president and chief financial officer, Sterling Commerce; and Anthony C. D'Augustine, a private investor, to its board of directors. Mr. Lowe and Mr. D'Augustine replace Martha Layne Collins and R. Todd Bradley on the board.
As senior vice president and chief financial officer of Sterling Commerce, Inc., a wholly owned subsidiary of SBC Communications, Inc., Lowe manages and directs all financial aspects of the company and its financial operations. Earlier in his career, Mr. Lowe served as director, corporate development for SBC Communications, Inc. Mr. Lowe joined PurchasePro's board in April of this year and currently chairs its audit committee.
Mr. D'Augustine, earlier, served as senior vice president and division manager for Conexant Systems, Inc. (Nasdaq:CNXT), a publicly traded company that provides semiconductor system solutions for communications applications. Mr. D'Augustine brings a wealth of marketing and sales experience to the company and also joined the company's board in April of this year.
Richard L. Clemmer, chief executive officer of PurchasePro, said: "We are very pleased to have Mr. Lowe and Mr. D'Augustine join our board of directors. I firmly believe that they will help guide PurchasePro to the achievement of its primary objective of sustained profitability."
The company also announced today that Mr. Clemmer has assumed the position of chairman, replacing Mr. Bradley who has resigned to devote further time and attention in his new role as president and COO of Palm Solutions Group.
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.
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 "Risks and Uncertainties" discussions included in the SEC filings of PurchasePro.com, Inc., that are available from the company on request and on the Internet at the SEC's website, www.sec.gov including our Form 10-K filing for the period ended December 31, 2001. Note: PurchasePro is a service mark of PurchasePro.com Inc. All other trademarks or registered trademarks are the property of their respective owners.