Public Corporate Press Release

Tuesday, February 26, 2002

Technology Xpressions’ Purchase-X

A Material Procurement System

(Reno) NV – Area technology services leader Technology Xpressions has today announced its continued development and distribution of company proprietary software with its latest Materials Procurement System, entitled Purchase-X.

Innovative in design and its sales model, Purchase-X software is designed to lower internal processing costs 2%-5%, reduce the purchasing cycle time by up to 65% and lower material and services costs 2%-25%. Purchase-X can be used by virtually any size business to reduce costs while keeping total control of the procurement process.

Purchase-X is a purchasing control or “material services procurement program” that allows purchasing professionals to host unlimited, company sponsored “reverse auctions.” Purchase-X creates a secure negotiation environment by using encrypted communications while controlling the number and caliber of vendors invited, as well as other important elements involved in the purchasing process.

Purchase-X is designed for any type of corporate purchasing and can be used to quickly facilitate the buying process for any combination of materials or services, from office supplies to medical or industrial contracts.

Purchase-X begins the reverse auction procedure by creating the description and specifications for needed goods or services. It then sends electronic invitations to qualified vendors, specifying shipping and payment terms, delivery schedules, complete specifications, and quantities, so vendors will be fully prepared prior to entering the auction site and bidding to fill client orders. Each vendor needs only a web browser such as Internet Explorer or Netscape to participate in the process.

“In their first auction, our first customer saved an immediately quantifiable $87,000 in only one hour,” said Michael Kneeland, President of Technology Xpressions. “This aviation company simply put together a list of items they needed to facilitate their business, invited their suppliers, and saved 15% off the previous costs.”

Purchase-X - Buyer Driven Software

Purchase-X allows the customer to comprehensively share data with Excel and other third-party programs. Complete auctions can be securely set up in minutes using known product specifications and hand picked, credible vendors. PurchaseX allows for secure guest observation during each auction event and provides protection against late bids, utilizing auction extension measures to ensure that the buyer gets the absolute best price available before auction close.

Upon close of auction, PurchaseX immediately provides a wealth of detail, including low bids, savings per item, extended savings, and a history of all bids, providing for informed decision making in choosing the winning vendor.

Unlike the competition, Technology Xpressions does not charge a percentage of the auction total or savings, transaction fees, or impose limits on the use of their product. Purchase-X is a fixed cost stand alone application, designed for unlimited use, that clients can use as their purchasing needs dictate.

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