Covisint Europe B.V. to Locate Headquarters in Amsterdam, The Netherlands

    DETROIT and AMSTERDAM, Netherlands, May 16 Covisint Europe
has officially opened for business: The company has been registered as
Covisint Europe B.V. in the Amsterdam Trade Register.  It will operate as a
subsidiary of Covisint, L.L.C., the joint venture of DaimlerChrysler, Ford,
General Motors, Nissan, Renault, Commerce One and Oracle.  The headquarters
staff of Covisint Europe B.V. will be relocating to the Dutch capital during
the next few weeks.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/20010322/DETH002LOGO )
    "With the transformation of our project team into a company, we have taken
a crucial step forward," said Lars Olrik, managing director, Covisint Europe.
"We can now enter into contracts with clients and appoint staff."
    In the coming weeks, some of Covisint Europe's approximately 60 staff
members will move to their new headquarters in Amsterdam.  The offices will be
located in the Schiphol-Rijk Business Park.  Offices in Stuttgart and Paris
will be maintained for customer liaison.  "The selection of the Amsterdam
location emphasises our independence as an e-Business platform supplier for
the automotive industry.  The city also fulfils Covisint's requirement for
global business management," said Olrik.
    "Formally establishing our European presence underscores our global vision
and reinforces our stated mission to connect the automotive industry," said
Kevin W. English, Chairman, CEO and president, Covisint, L.L.C.  "Having a
strong European foothold is critical to our future success."

    About Covisint:
    Covisint's tools for product development, procurement, and supply chain
management are now available to customers.  During Q1 of 2001, Covisint had
more than 900 companies registered on the exchange.  Its customer procurement
activity included more than 100 auction events with more than $1 billion in
transactions and more than 6,000 transactions from 200-plus catalogues
featuring 2.5 million individual items.  Covisint's Virtual Project Workspace
has more than 200 seats sold and in use among OEM and Tier 1 customers and its
supply chain tools are in use by more than 750 customers in the automotive
industry.
    Covisint, L.L.C. is a global, independent e-business exchange providing
the automotive industry with leading collaborative product development,
procurement and supply chain tools that give its customers the ability to
reduce costs and bring efficiencies to their business operations.  Developed
by DaimlerChrysler, Ford, General Motors, Nissan, Renault, Commerce One and
Oracle, Covisint is currently located in Southfield, Mich.  Covisint Europe is
headquartered in Amsterdam.  The company has also established an office in
Tokyo.  For more information about Covisint, visit http://www.covisint.com .

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