PurchasePro Partners With ProfitScape to Add GMAC Payment Solutions for Marketplace Owners; Agreement to Provide New Payment Capabilities

    LAS VEGAS--Jan. 30, 2001--PurchasePro , a leading provider of e-commerce solutions for companies of all sizes, and ProfitScape (www.profitscape.com), a Las Vegas-based company that provides automated payment solutions to facilitate business-to-business growth, today announced a joint initiative that will enable PurchasePro to become the first e-commerce business to implement ProfitScape's GMAC-branded eNet30(TM) payment solution into its application.
    The joint initiative includes the deployment of ProfitScape's eNet30(TM) system into PurchasePro's private-label marketplaces, and offers marketplace members end financing provided by GMAC's Commercial Credit business unit, a wholly owned subsidiary of GMAC.
    The eNet30(TM) system will empower PurchasePro's member businesses to benefit from a new source of payment capabilities, enabling companies of all sizes to enjoy purchasing power normally reserved for large corporations.
    Jay Craig, chief financial officer of GMAC Commercial Finance, said: "We believe the eNet30(TM) system is a perfect vehicle to provide buyers and suppliers with a greater credit line, resulting in an easier, more effective way to conduct business. ProfitScape will provide PurchasePro with the technology backbone for the company's private-label marketplaces, while our company will provide the financial services foundation."
    The eNet30(TM) system draws on the financial power of GMAC Commercial Credit and enables companies to pay for goods and services with an easy-to-use, online purchasing system. The payment system also provides commercial lines of credit for approved members to facilitate online business purchases and transactions.
    Matt Yost, vice president of strategic development for PurchasePro, said: "The addition of the system will provide our private-label marketplaces with an immediate increase in purchasing power. PurchasePro is committed to leveling the playing field for businesses throughout the e-commerce industry, providing our members with an additional source of revenue to purchase goods and services."
    ProfitScape expects to broaden its e-commerce initiative to include the creation of four private-label marketplaces on PurchasePro's global marketplace for ProfitScape's growing domestic operations. ProfitScape has also been named a preferred supplier by PurchasePro, enabling the two companies to participate in joint sales and marketing opportunities.
    The eNet30(TM) process reduces the credit risk associated with selling goods to anonymous trading partners on the Internet and at commercial trade shows. By providing sellers with an automated open account management system, the eNet30(TM) eliminates back office credit, collection processes and associated costs.

    About GMAC

    GMAC Commercial Credit, one of two business units within GMAC Commercial Finance, is one of the largest asset-based lending and factoring companies in the world. Its parent organization, GMAC, a wholly owned subsidiary of the General Motors Corp. since 1919, operates under the brand name of GMAC Financial Services.
    In addition to worldwide automotive financing, its major lines of business include insurance, mortgage, and commercial finance. The company, which recorded $1.6 billion in earnings in 2000, operates in 40 countries at more than 700 facilities.

    About ProfitScape

    ProfitScape Inc. provides an automated payment solution to facilitate business-to-business online transactions, which streamlines the commercial buying process by providing sellers with guaranteed payment from credit-approved buyers. Once approved, buyers are provided with a payment guarantee card, known as the eNet30(TM) purchasing card.
    The eNet30(TM) process reduces the credit risk associated with selling goods to anonymous trading partners on the Internet and at commercial trade shows. By providing sellers with an automated open account management system, the eNet30(TM) eliminates much of the back office credit and collection process. ProfitScape's services provide sellers with guaranteed payment, automated bill payment, financing options, transaction processing and collection.

    About PurchasePro

    PurchasePro , a leader in business-to-business e-commerce, operates the PurchasePro global marketplace, encompassing more than 30,000 businesses and powering approximately 240 private-label marketplaces with its highly scalable, browser-based e-commerce engine.
    PurchasePro's solutions enable businesses of all sizes to easily buy and sell products and services, and compete more effectively by enhancing sales opportunities, reducing procurement costs and greatly increasing employee productivity. PurchasePro responds to the most common corporate needs: e-Procurement for corporate procurement, v-Distributor for online distributors, and e-MarketMaker for Internet market makers.
    PurchasePro has developed strategic sales and marketing relationships with industry leaders including America Online, Computer Associates, Gateway, Hilton, Office Depot and Sprint. The company provides extensive support and training programs. For information, call toll-free at 888/830-4600 or in Las Vegas at 702/316-7000 or visit www.purchasepro.com.

    Note to Editors: PurchasePro is a servicemark of PurchasePro.com, Inc. All other trademarks or registered trademarks are the property of their respective owners. This news release includes forward-looking statements which are subject to the "Safe Harbor" created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements (which involve the company's plans, beliefs and goals, refer to estimates or use similar terms) involve certain risks and uncertainties, including the risks and uncertainties associated with rapidly changing technologies such as the Internet, the risks of technology development and the risks of competition that can cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements represent only the views of certain members of management and do not necessarily represent a consensus of all employees and managers within the company. Moreover, those forward-looking statements are based on limited information available to the company now, which is subject to change. It should be clearly understood that the factors and perceptions on which these forward-looking statements are based are highly likely to change over time and that the company has no current plan to update these statements. Actual results may differ substantially from what the company says today and no one should assume at a later date that the forward-looking statements provided herein are still valid. They speak only as of today. For more information about these risks and uncertainties, see the SEC filings of PurchasePro Inc., including the section entitled "Factors That May Affect Results" in its 10-K filing for the period ended Dec. 31, 1999, and its 10-Q for the quarter ended Sept. 30, 2000, which is available from the company on request and on the Internet at the SEC's Web site, www.sec.gov.