Powerway Signs Agreement With Magna; Leading Global Automotive Supplier Chooses Powerway.com to Cut Costs, Improve Performance Throughout Supply Chain

    INDIANAPOLIS--March 12, 2001--Powerway, Inc., a leading provider of performance collaboration solutions for the global automotive industry, today announced that Magna International Inc. ("Magna"), one of the most diversified automotive suppliers in the world, has signed an agreement with Powerway. Magna intends to use Powerway.com to reduce costs and improve design and engineering quality throughout Magna's extended supply chain.
    Powerway.com is the first B2B Internet workplace in deployment to address process and performance inefficiencies throughout multiple tiers of the automotive supply chain. Web-enabling the complex Advanced Product Quality Planning (APQP) process and Production Part Approval Process (PPAP), Powerway.com allows real-time collaboration 24x7 in a secure, protected environment throughout all stages of the design, engineering and manufacturing process. The results are reduced costs, fewer problems and increased speed to market.
    Mike Campbell, Powerway CEO said: "Magna's decision to implement Powerway.com reflects Magna's strategic commitment to deploy innovative technologies to improve collaboration between customers and suppliers. To meet the ever-increasing demands of the marketplace, multiple tiers of the supply chain must collaborate as a virtual enterprise to reduce costs, compress the product development cycle and improve quality. Powerway.com is the performance collaboration solution that will transform the way the automotive industry develops products and gets them to market."

    About Powerway, Inc.

    Powerway, Inc., a privately held technology company founded in 1987, provides e-business solutions, leading-edge software and professional services for enhanced collaboration within and between organizations. Powerway currently has offices in Indianapolis, Detroit, London and Mexico City, and approximately 300 employees worldwide. Its list of 3,500 customers spans the automotive, general transportation, appliance and process industries.
    To learn more about Powerway and take a test drive of Powerway.com, visit the Web site at www.powerwayinc.com.