eBreviate, EDS' eSourcing Company, and ProcureNet Sign Strategic eBusiness Agreement

Companies to Combine Advanced Auctioning, Logistics and Fulfillment Capabilities

WALNUT CREEK, CA and GREAT RIVER, NY (June 22, 2000) eBreviate, an EDS company offering market leading eSourcing tools and technologies, and ProcureNet, Inc., a pioneer and leading provider of end-to-end eProcurement solutions for the business to government market, today announced the signing of a strategic eBusiness agreement. Purchasing organizations within corporations and government have been among the first to embrace eSourcing technologies and these new solutions are designed to provide them with the tools they need to become even more efficient buyers of goods and services.

Under the terms of the agreement, ProcureNet will leverage eBreviate's eSourcing capabilities to conduct Internet negotiations for customers, and eBreviate will expand its online procurement options by offering ProcureNet's unique OneSourceª suite of products and services, and logistics and fulfillment capabilities.

"This relationship enables us to extend the unique benefits of ProcureNet OneSource to those who participate in eBreviate auctions," said Reuven Battat, President and Chief Executive Officer of ProcureNet. "By leveraging the synergies of our two companies, we can offer clients a range of online procurement options that's unmatched in the industry."

"We see tremendous opportunities in offering eBreviate's eSourcing technologies, content and delivery expertise to ProcureNet's customer base," said Niul Burton, president of eBreviate. "We're particularly excited about ProcureNet's leading position in the business-to-government marketplace where we are confident our combined market strengths will offer unique, powerful procurement solutions.

"The use of eProcurement solutions by government buying organizations is accelerating," said Lisa Williams, program manager, BtoB Commerce & Applications, the Yankee Group. "Strategic alliances such as the one between ProcureNet and eBreviate show that the market leaders are responding to this B2G demand by providing more leveraged and integrated services." eBreviate will also offer clients ProcureNet's PurchasePlaceª business portal, part of the OneSource suite, which allows organizations to streamline complex business processes and cut costs by consolidating purchasing and reducing the number of suppliers. PurchasePlace also enables clients to take advantage of ProcureNet's spot buy capabilities to ensure purchase of hard-to-find items, and deliver seamless integration with every facet of the organization's eBusiness lifecycle.

ProcureNet OneSourceª is an end-to-end suite of products and services designed to help customers streamline their purchasing processes and facilitate electronic commerce. A Web-based user interface provides end-users with access to online catalogs and spot buy services in order to locate, requisition, and purchase maintenance, repair, and operations (MRO) supplies and services from approved vendors. eBreviate's product offerings include downward auctions that involve many suppliers lowering their bids to win the business of one buyer. eBreviate has auctioned about $1.8 billion in goods and services and achieved savings for its customers as high as 60%, and single auction transaction sizes have ranged from $1 million to $200 million. Nearly 400 suppliers have
participated in eBreviate downward auctions and average savings has been about 17%. eBreviate works with customers throughout Europe and North America, in multiple industries, and has auctioned a vast array of goods and services, including printed circuit boards, office chairs, plastic molded parts, technical labor, telemarketing services, cellular phones and services, corrugated paper, custom metal parts, PCs, and office supplies. eBreviate's suite of integrated eSourcing tools also includes eRFPs and Upward Auctions.

About ProcureNet, Inc.
ProcureNet (www.procurenet.com) is the pioneer and a leading provider of Internet B2G solutions and services. Its flagship product suite, OneSource¨, uniquely integrates Web-based procurement applications, a global buying portal, and value-added purchasing services. ProcureNet provides solutions to more than 125 public and private sector organizations. ProcureNet has an established history as a government ontractor and recently received the prestigious Hammer Award, an honor created by Vice President Gore and presented to teams of federal employees and private industry that have made significant contributions in support of reinventing government principles.

Major investors include Fisher Scientific (NYSE: FSH), Thomas H. Lee Company, DLJ Merchant Banking Partners, and Chase Capital Partners. ProcureNet is headquartered in Great River, N.Y and has 250 employees.

About eBreviate
eBreviate, an EDS company, is a leader in web-based solutions that enable corporations to take the time, cost, and inefficiencies out of buying. eBreviate combines over 20 years of experience from EDS' global management consultancy, A.T. Kearney, the world's leading strategic sourcing consultant, with advanced Internet technology to create some of the most reliable and
comprehensive tools available to improve the corporate purchasing process. eBreviate can be found online at www.ebreviate.com.

About EDS
EDS is a recognized global leader in providing E-business and information technology services to 9,000 business and government clients in about 50 countries around the world. Having founded the IT services industry more than 35 years ago, EDS delivers high value management consulting, electronic business solutions, business process management, and systems and technology expertise to help clients simplify complexity and achieve superior value in the digital economy. The company brings deep industry practice knowledge to solve challenges in a wide variety of industries, including communications, energy and chemicals, financial services, government, healthcare, products and retailing, and travel and transportation. EDS reported revenues of $18.5 billion in 1999.
The company's stock is traded on the New York Stock Exchange (NYSE:EDS) and the London Stock Exchange. To find out more about the EDS vision, visit EDS via the Internet at www.eds.com.

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