LAS VEGAS, Nov. 29, 2001 (PRIMEZONE) -- PurchasePro (Nasdaq:PPRO) said today that Richard L. Clemmer, chief executive officer, and Mark Donachie, chief financial officer, have initiated stock purchase programs for their personal accounts.
Mr. Clemmer said, "Because of my strong confidence in PurchasePro, as well as in response to the voice of our shareholder base, I am accelerating my previously stated plans to purchase stock in the company on the open market. I intend to initially accumulate an additional 100,000 shares of PurchasePro stock over the next two weeks."
Mr. Donachie said, "My intention is to purchase stock in PurchasePro equivalent to ten percent of my base salary. I believe strongly in this company, its management team and our ability to achieve our objective of profitability. My purchases will be made in two parts, one this week and one after the first of the year."
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 300,000 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.
Safe Harbor: 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 September 30, 2001, which are available from the company on request and on the Internet at the SEC's website, www.sec.gov.