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ForestExpress Achieves Strategic Transaction Milestone in Three Months

Press release from the issuing company

ATLANTA (Feb. 22, 2001) - ForestExpress, a global e-commerce solution and service provider serving the entire forest products industry, announced today that customers have conducted more than 100 transactions across its e-commerce platform achieving a strategic company milestone. ForestExpress' Recycling marketplace launched its pilot program this week while ForestExpress' Building Materials, Timber and Paper marketplaces have been in pilot phase and conducting transactions since the Winter of 2000. ForestExpress recently announced partnerships and alliances with Corio Inc. and Moai Technologies as the final additions to their list of world-class infrastructure solutions providers including Commerce One and SAP Markets, webMethods. "The ForestExpress team continues to meet and exceed milestones. Our first marketplace was launched in November 2000 and has since been met with great enthusiasm," said Keith Russell, ForestExpress CEO. "We continue to gain valuable feedback and information from our pilot customers which is helping us fine tune and deliver a viable e-commerce solution for the industry." The ten-member board of directors are pleased with the commerce platform and offered functionality. "We are all very pleased with ForestExpress' overall vision, strategy and quickness to market, " said board member Marianne Parrs, Executive Vice President, International Paper. "There is a strong support and coordination among the founding partners and participants."

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