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Noosh Transaction Volume Grows 18%, Inroads into Government

Press release from the issuing company

SANTA CLARA, Calif., July 31 -- Noosh, Inc., a leading provider of collaborative e-Business software solutions, today announced that customer procurement transaction volume for the first half of 2002 grew to $45.3MM, an increase of 18% compared to the same period in 2001. "Many hosted e-procurement solutions have reported lower transaction volume compared to last year, but Noosh customers continue to drive additional business using our solution," said Mike Gardner, Noosh President and CEO. "We think it's another indication of how the marketplace has confirmed that the Noosh solution delivers real results." Since the start of the year, Noosh made inroads into the federal government market and added eleven new buyer accounts. In the government arena, Noosh has conducted engagements with numerous federal agencies to help them automate manual procedures for creating specifications, share order information with the Government Printing Office (GPO), and archive job orders. Agencies that Noosh has been working with include the Department of Justice, the Department of Labor, the U.S. Census Bureau, the U.S. Department of the Interior, the U.S. Marshals Service, the National Institute of Health, and the Bureau of Labor Statistics. Noosh added several significant private sector accounts in the first half of 2002 including the Star Tribune Company and the Honeywell Consumer Products Group. The Star Tribune Company chose Noosh to help manage its interactive media, direct mail, and marketing materials. Honeywell chose the Noosh solution to help manage and procure sell sheets, catalogues, labels, and point-of-purchase materials for its leading brands including FRAM oil, air, transmission and fuel filters; Prestone antifreeze coolant and car care products; Autolite spark plugs; and Holts car care products.