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Reynolds ReySource Servicing Customers At Web Speed, $3 Million in 10 Weeks

Press release from the issuing company

June 14, 2001--The Reynolds and Reynolds Company today announced that ReySource(TM), its Internet-based automotive retailing procurement solution, has exceeded $3 million in sales in just ten weeks of operation. ReySource helps auto retailers to manage the purchase of business documents, office supplies, and other products and services in their dealership and is completely integrated with Reynolds' award-winning direct sales channel. "Reynolds' latest high-tech, high-touch Internet solution has taken the automotive retailing industry by storm, and the momentum is still growing,'' said Scott Collins, vice president of Reynolds' Information Output Services. "The solid 'clicks, bricks and mortar' foundation of ReySource already has led to nearly 40 percent of our packaged goods being sold on-line, which equates to approximately $80,000 a day in orders.'' Collins said that by marrying the technology of ReySource with Reynolds' sales force and national network of warehouses, this solution provides a convenient way for retailers to leverage the power of Internet technology to simplify their billing and supply management issues for their customers. "ReySource offers customers an array of value points, including convenient one-stop shopping, dealership-specific information, more purchasing control and a streamlined process. It's an application that grows with the dealership, giving retailers access to their procurement information like never before,'' said Collins. "In fact, ReySource already has comprehensive transaction information available on-line to its customers for the previous two years. The nearest competitor only goes back four to six months.'' ReySource currently accommodates ordering of off-the-shelf package goods documents and office supplies by retail customers and Reynolds sales professionals. The home page also offers visitors daily automotive news updates, stock market insight and a directory of over 22,000 automotive-related links. Collins indicated that ReySource Version 2.0 - which is scheduled for roll-out this summer - will allow retailers to order customized products for their dealerships, and will provide retailers with in-depth order and shipping details as well as on-line order status. "Retailers look at ReySource today and see how easy it is to use,'' said Collins. "Reynolds is going to make it even easier with Version 2.0.''