Eventra Names Michael Richardson Chief Technology Officer

    MILFORD, Conn.--May 1, 2001--Eventra, Inc., a leading provider of supplier relationship management (SRM) software for the direct material supply chain, today announced it has named Michael Richardson Chief Technology Officer.
    Richardson will be responsible for defining Eventra's product technology vision and strategy, providing leadership direction to product development, quality assurance, technical product management and documentation. In addition, as a member of senior management, he will work closely with our field sales organization to build successful customer relationships, with the professional services group to improve and enhance our customization and deployment processes, and with our business development team to forge strategic alliances for added competitive advantage.
    "Michael Richardson has the experience, credentials and visionary thinking to solidify Eventra's leadership position in the SRM software market for direct material supply chain execution," said Eventra President and CEO Stuart Sawabini. "We were impressed with Michael's track records for assembling and leading sizable engineering teams that produced impressive results in quick order. We have every confidence that he will contribute significantly to Eventra's mission to further develop VendorSite(TM) as the preeminent SRM software that enable our customers to build collaborative environments that increase productivity and reduce costs."
    Prior to joining Eventra, Richardson was the vice president of eBusiness Solutions at InterWorld, a then pre-IPO company, which went public in 1999. In that position, he introduced significant new technologies and managed their productization and, in the process, reduced development costs and cycle time down significantly to quarterly releases by applying rigorous concurrent development processes. Prior to this tenure at InterWorld, Richardson was director of systems development for the VeriFone division of Hewlett-Packard where he managed the cross-cultural, collaborative development efforts for the company's primary source of transaction technology within HP globally. He also held executive R&D positions for Check Technology, LaserMaster Technologies, KROY and Perkin-Elmer.
    "Eventra is leading the charge in an exciting area of supply chain execution. Its impressive list of customers and the core functionality that VendorSite provides make it a best-of-class solution," said Michael Richardson. "I am eager to contribute to Eventra's continued success and shape its software strategy to meet the dynamic, changing needs of our customers."
    Richardson earned his bachelor of science in Mechanical Engineering and Computer Science from the University of Minnesota, Institute of Technology. He currently holds 15 U.S. patents, involving an array of technologies, and has several other patents pending.
    Richardson lives with his wife and two children in Manhattan.

About VendorSite

    VendorSite is a Supplier Relationship Management (SRM) business application for supply chain execution and collaboration configured to manufacturers' individual business processes. VendorSite allows manufacturers and their suppliers to exchange a full range of planning, scheduling, shipment and payment information online to streamline the direct materials procurement and planning process. Its integration with manufacturers' ERP/MRP and legacy systems and extensive data mining capabilities further extend its value. By offering an inter-enterprise, collaborative view into the direct material supply chain, VendorSite enables companies to reduce inventory holdings, improve their forecasting accuracy, and improve the order-fulfillment cycle time.

About Eventra

    Founded in 1998, Eventra is the leading Supplier Relationship Management software provider that is wholly focused on the direct material supply chain. Current VendorSite customers include Pitney Bowes, Subaru-Isuzu Automotive Inc., Kaman Aerospace, Blue Bird Corporation, and several global leaders in the aerospace, automotive and heavy equipment industries. Eventra is a privately held company based in Milford, CT. Additional information about Eventra can be found at www.eventra.com.