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Pricelock and AAA Arizona Announce Strategic Fuel & Energy Procurement Partnership


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REDWOOD CITY, CA--December 13, 2011: Today, Pricelock, the online leader in fuel and energy solutions for businesses, announced a strategic partnership with AAA Arizona, the Arizona affiliate of AAA. Under the agreement, AAA Arizona's business partners will gain access to Pricelock's Marketplace and Fuel Price Protection programs. These products will enable the auto club's business partners to meet fuel price hedging and procurement needs through customized online auctions.

“We are excited to bring these benefits to AAA's business customers across Arizona.”

"This partnership will enable us to bring cost-saving, flexible and easy-to-use energy solutions to our business partners, such as towing contractors," said Todd McGee, vice president of business development for AAA Arizona.

"Our programs streamline the energy buying and selling supply chain, utilizing technology to connect buyers and sellers," said Naveen Agarwal, CEO of Pricelock. "We are excited to bring these benefits to AAA's business customers across Arizona."

Pricelock Marketplace is an internet-based platform that enables energy buyers and sellers to manage reverse or sealed bid auctions and addresses complex delivery requirements through customization options. A comprehensive audit trail delivered by the platform reduces the energy buyer's administrative and regulatory burdens. For sellers, the program provides a direct and efficient platform to access customers. The online bidding process reduces sales and marketing costs to ensure the buyer is receiving the most competitive energy prices.

Pricelock's Fuel Price Protection program allows companies to protect their fuel budgets by purchasing a plan that reimburses businesses when the national average fuel price rises above a pre-determined level.

About Pricelock

Pricelock, headquartered in Silicon Valley, CA, offers online fuel and energy solutions to businesses of all sizes. By leveraging technology and energy market expertise, coupled with deep experience in the energy markets, Pricelock is bringing efficiency and empowering energy buyers and sellers worldwide. Pricelock Marketplace is the first customized, online energy-auction platform that allows utilities, power plants, government and large commercial and industrial companies to buy and sell both natural gas and motor fuels. Pricelock's award winning solutions have been recognized by the leading industry trade organizations including America's Most Promising Companies by Forbes magazine, Platts Global Energy Awards, "hottest companies" in Silicon Valley and Web Marketing Standard of Excellence award. A full suite of Pricelock's solutions can be found at Pricelock.

About AAA Arizona

AAA Arizona, the Arizona affiliate of AAA, provides automotive, insurance, vacation planning, discounts and financial services to more than 800,000 Arizona members. Annually, AAA's Roadside Assistance responds to more than 450,000 calls across the state. In 2008, AAA was ranked the No. 1 "socially responsible" brand by Landor's BrandAsset® Valuator. In 2010 and 2011, AAA Travel earned Lovin' Life After 50's favorite travel agency category in the publication's annual reader's choice awards. Since its founding in 1927, AAA Arizona has been a leading advocate for the safety and security of all travelers and the motoring public.