Corcentric Appoints Charlie Floto Company President

    MCLEAN, Va.--May 10, 2001--Corcentric's board of directors announced today the appointment of Charlie Floto to the position of president of The Company.
    Reporting directly to the board of directors, Mr. Floto will be responsible for establishing the strategic direction of The Company as well as management of day-to-day operations. "The demand for eCommerce solutions to increase our customers' productivity through online procurement is growing exponentially," said Floto. "Corcentric's primary focus is to further solidify our relationships with our core customers by meeting their specific demands in serving their customers while positioning ourselves to capitalize on future growth opportunities."
    Mr. Floto joined Corcentric in October 2000 as vice-president of sales and marketing. With over 20 years of sales, marketing and general management experience in the computer hardware, software and telecommunications industries, Floto has held senior management positions with Ericsson Radio Systems, Hayes Microcomputer Systems, Wang Laboratories and IBM. Prior to joining Corcentric, Mr. Floto was president of Ortega Systems, an E-business software company in the Building Security Industry.
    Commenting on the appointment, Andre Laus, chairman of the board of Corcentric, said, "Speaking for the board, we are very pleased to have a person of Charlie's background and experience who understands the issues and the innovative solutions our products and services bring to our customers as well as his proven ability to lead and grow an entrepreneurial organization."
    Corcentric provides proprietary eCommerce solutions, enabling supply chain business communities to conduct transactions electronically. Serving the heavy-duty truck and automotive supply industries, more than 600 clients' sites currently utilize Corcentric's services. With a growth rate of over 45,000 transactions per month, the company has processed approximately $120 million in purchases to date.
    Headquartered in McLean, Virginia, Corcentric was founded in 1998 and is a privately held company.