Covisint and e-STEEL to Co-Market Direct Material Procurement Technology

COVISINT LOGO
Covisint, L.L.C. logo. (PRNewsFoto)[TC]
DETROIT, MI USA 03/22/2001
    DETROIT, July 18 Covisint and e-STEEL today confirmed that
they have agreed to cooperate to market direct material procurement technology
to the automotive industry.  Their cooperation in this area may lead to a
broader business relationship in the future.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/20010322/DETH002LOGO )
    Covisint recognizes the importance of the direct material segment
throughout the automotive industry.  However, Covisint has elected not to
introduce steel direct material functionality into its site at this time, in
order to focus on integrating several previously committed technologies.
    This cooperation with e-STEEL furthers Covisint's mission of offering a
complete solution to its customers.  Covisint will immediately begin co-
marketing and encouraging its clients to use the e-STEEL SupplyNetwork
platform.
    "We have a high regard for e-STEEL technology, and their management team,"
said Kevin English, chairman, president and CEO of Covisint.  "We will
encourage our customers to do business with e-STEEL.  Applications that
automate and standardize all of the business processes associated with the
procurement and management of direct materials, such as steel, are important
to the automotive industry.  We remain open to broadening this relationship at
some point in the future."
    "This initiative with Covisint has all the hallmarks of a great
relationship," said Michael S. Levin, chairman and CEO of e-STEEL.  "We look
forward to their proactive support in providing the automotive industry with a
proven solution for direct materials."
    Covisint will become a stakeholder in e-STEEL via the transfer of warrants
previously held by Ford Motor Company, a founding partner of the e-business
initiative.

    About e-STEEL
    New York City-based e-STEEL Corporation (http://www.e-steel.com ) is the leading
provider of web-based software that empowers direct material supply networks.
e-STEEL applications connect manufacturers and their extended supply chains
and enable the full range of procurement and material management business
processes via common standards and common protocols.
    Founded in September 1998, e-STEEL has significant strategic industry
alliances with BHP Steel, Dofasco Inc., Feralloy Inc., Ford Motor Company,
Ispat International, Macsteel Service Centers USA, National Steel, Rouge
Steel, U. S. Steel Group, USS-Posco, The Techs, and Worthington Steel.  The
company is backed by a blue-chip group of strategic investors led by Goldman,
Sachs & Co.

    About Covisint
    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.  Covisint
was developed by DaimlerChrysler, Ford, General Motors, Nissan, Renault,
Commerce One and Oracle.  Since its inception, PSA Peugeot Citroen has also
joined the initiative.  Covisint is located in Southfield, Michigan.  Covisint
Europe B.V. is headquartered in Amsterdam.  Covisint Japan K.K. is
headquartered in Tokyo.  For more information about Covisint, visit
http://www.covisint.com .