GKN plc Selects Procuri to Incorporate Sourcing Strategies Across its Organization

NASHVILLE, Tenn., May 19, 2003 -- At the International Supply Management (ISM) Conference and Educational Exhibit, Procuri, Inc. today announced that U.K.-based GKN plc has selected Procuri 4.0 as its strategic sourcing solution. The global engineering company, focused on the automotive and aerospace industries, will use Procuri's solution to streamline its sourcing process, incorporate sourcing best practices across its organization and improve communication with suppliers.

GKN, as with many organizations, began to evaluate sourcing vendors after learning of the fast return on investment and improved processes that could be realized with a sourcing solution. The Company understood that sourcing is a multi-step process to deliver best value.

"Our procurement professionals needed a tool to help them analyze data, collaborate with multi-disciplinary team members and suppliers, collect information, explore possibilities, leverage volume across locations, capitalize on our buyer's strengths, and utilize appropriate competition in the market to get best value," said Nigel Herrington, Head of Group Procurement (Indirect), at GKN plc.

A key selection criterion for GKN was Procuri's intuitive platform and its team's sourcing experience and knowledge. This knowledge and experience will aid GKN in experiencing the significant reduction in sourcing cycle times that is universal with Procuri's customers.

With Procuri 4.0, GKN's professionals can capture benefits throughout the sourcing process. The solution facilitates good documentation, solid market intelligence, and disciplined evaluation of non-price factors. These are the cornerstones for effective sourcing, whether the tactics are competitive or non-competitive.

"Our solution will help GKN professionals extend sound sourcing practices across its organization and will allow them to become true practitioners of the art of sourcing," said Mark F. Morel, Sr., Procuri's president and chief executive officer. "It's exciting for us to work with a company that understands the potential of strategic sourcing tools and wants to improve its business processes with our platform."

GKN is active in more than 30 countries in Europe, the Americas and Asia Pacific.

About Procuri

Procuri delivers strategic sourcing solutions, services and knowledge to Global 2000 enterprises. Customers report average cost savings of nearly 25 percent in the procurement of direct and indirect materials and services and cycle time reductions of up to 75 percent. Procuri has more than 60 customers including Procter & Gamble, Eastman Kodak, ITT Industries, KLM Royal Dutch Airlines, Rio Tinto and U.S. Steel. For more information, call 1-877-360-1600 or visit www.procuri.com .

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