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LiveListings Maintains Independence Despite FTC Ruling

19 September 2000

LiveListings, Largest Global Aftermarket Parts Exchange, Maintains Independence Despite FTC Ruling; Neutrality In Untapped Independent Aftermarket Key To Success

    SEATTLE--Sept. 19, 2000--With the recent approval by the Federal Trade Commission of a major online procurement network, LiveListings continues to successfully operate the largest aftermarket truck, auto and industrial parts exchange in the U.S. by maintaining a unique and neutral market.
    The company serves the world's largest collection of buyers and sellers seeking an independent online forum in the $300 billion parts aftermarket.
    In contrast to the arguable e-procurement models where dominant industry players take bids from a select group of suppliers, LiveListings has developed an open, real-time market of buyers and sellers in a secure, digital online exchange. Scott Parker, LiveListings vice president of business development and former executive for the Automotive Parts Rebuilders Association, believes the company's neutral position has played an integral role in the rapid success and growth of its exchange. "While LiveListings welcomes all aftermarket buyers and sellers to participate, no one participant has an advantage -- all pricing is determined in an open market forum," said Parker.
    LiveListings' fax-based service has been operating for more than 12 years and it began its successful Internet operations in 1998. Its management team has more than 200 years of combined experience in computers and the Internet.
    LiveListings has secured $5 million in its first round of venture capital funding. The exchange company will move from a subscription-based service to one that is transaction-based in the next 60 days.