LAS VEGAS, Aug. 6, 2002 (PRIMEZONE) -- In response to conflicting reports in the media, PurchasePro (Nasdaq:PPRO) today confirmed the existence of an investigation by the U.S. Securities and Exchange Commission directed toward PurchasePro. PurchasePro is cooperating fully with the SEC. PurchasePro also has provided information to the SEC in response to separate inquiries regarding other companies.
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 and 10-Q filing for the period ended March 31, 2002. Note: PurchasePro is a service mark of PurchasePro.com Inc. All other trademarks or registered trademarks are the property of their respective owners.