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| Avport, Inc. Selects Tradeum Suite as Its Comprehensive B2B Digital Marketplace Solution; New General Aviation Portal to be Promoted on VerticalNet Sites UpdatedMay 17, 2000, SAN FRANCISCO (BUSINESS WIRE) -- Tradeum, Inc., a leading innovator in building digital marketplaces, and wholly-owned subsidiary of VerticalNet, Inc. (NASDAQ:VERT), today announced that its complete marketplace solution has been selected by Avport, Inc. as the comprehensive platform for its general aviation marketplace. In addition, VerticalNet and Avport announced an initiative to promote Avport as an independent marketplace on VerticalNet. Avport is focusing on providing a complete offering to users in the general aviation space, a $52 billion industry which encompasses all business related to non-scheduled flights. Avport chose Tradeum's integrated solution in order to provide a wide range of services to this fragmented marketplace. The strength of Tradeum's eMarketplace Suite(tm) can provide Avport a strategic advantage in the marketplace. "We are big believers in what Tradeum can provide to us in the aviation marketplace. Our team has seen technology evolve over the years, and we firmly believe that Tradeum can provide Avport with the cutting edge technology to assure our position as the market leader," said Jim Palozola, Chairman and CEO of Avport. In a related initiative, Avport intends to join with VerticalNet in a cooperative marketing agreement to promote the to-be-launched site, through Avport and related VerticalNet(R) communities, as well as linking to each other's sites. "With VerticalNet, Avport can speed its time to market and begin to consolidate niche players in online General Aviation to rapidly claim global market leadership," said Jim Palozola, Avport Chairman and CEO, whose board includes, former Boeing President Ron Woodard; Boeing EVP Tom Schick; Texas Aerospace Commission Chairman and former Apollo Astronaut Walter Cunningham; Bob Larson, aerospace scientist and four-term Chairman of the IEEE, and John Appel, Managing Director of Tira Capital. "This initiative is an extension of the VerticalNet strategy to offer best-of-breed e-commerce solutions to targeted global industrial communities," said Blair LaCorte, VerticalNet Senior Vice President, Strategy and E-Commerce. "With our market tested community model, customer base and Tradeum's technology, VerticalNet can help assure the success of Avport."
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About Tira Capital This announcement contains forward-looking statements that involve risks and uncertainties, including statements relating to the expected benefits of the alliance as well as statements that are preceded by, followed by or include the words "believes," "plans," "intends," "expects," "anticipates," or similar expressions. For such statements, VerticalNet claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ from those contained in the forward-looking statements include the inability of the alliance to attract interest as well as those factors set forth in the Company's Annual Report on Form 10-K for the period ended December 31, 1999 and the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2000, both of which have been filed with the SEC. VerticalNet and NECX are the registered trademarks of VerticalNet, Inc. All other names are trademarks and/or registered trademarks of their respective owners. Contact:
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