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Automotive Trade Exchange to be Called 'Covisint'

16 May 2000

Automotive Trade Exchange to be Called 'Covisint'

   -- Name reflects the fusion of Communication, Vision and Integration --

    SOUTHFIELD, Mich., May 16 The automotive Internet exchange
to be formed by General Motors, Ford, DaimlerChrysler, Renault and Nissan will
be named "Covisint," said representatives of the respective firms.
    The name Covisint (pronounced KO-vis-int) is a combination of the primary
concepts of why the exchange is being formed.  The letters "Co" represent
connectivity, collaboration and communication.  "Vis" represents the
visibility that the Internet provides and the vision of the future of supply
chain management.  "Int" represents the integrated solutions the venture will
provide as well as the international scope of the exchange.
    "Connectivity and visibility are the promises of e-business," said Peter
Weiss, DaimlerChrysler's Project Director, e-Extended Enterprise and a member
of the executive team planning the exchange.  "Connectivity is about
integrating buyers and sellers into a single network.  Visibility means real-
time information presented in a way that speeds decision making and enables
communication through every level of a company's supply chain anywhere in the
world."
    By using the Web, a manufacturer's production schedule and any subsequent
changes could be sent simultaneously and instantly throughout its entire
supply chain," said Alan Turfe, Executive Director of the GM TradeXchange and
a member of the executive team planning Covisint.  "The result is less need
for costly inventory at all levels of the supply chain and an increased
ability to respond quickly to market changes."
    "Covisint will provide the language for manufacturers and suppliers to
talk to each other in the future," said Alice Miles, President, Ford B2B
ConsumerConnect and a member of the executive team planning the exchange.
"With complete confidence and security, buyers and sellers -- regardless of
their size and position in the supply chain -- will soon have a way to
communicate with each other in a real-time, virtual way."
    On February 25, 2000, General Motors, Ford and DaimlerChrysler announced
their intent to form a worldwide business-to-business marketplace.  Renault
and Nissan announced their intention to join the exchange in April.  This new
venture, Covisint, will be established as an independent company and will
offer products and services designed to help auto makers and suppliers alike
achieve unprecedented efficiencies throughout the supply chain.  Currently,
Oracle and Commerce One are the two primary technology providers to the
planned venture.  Covisint will integrate best-of-breed technologies to
provide solutions for its customers.