Business Editors

ATLANTA--(BUSINESS WIRE)--Feb. 19, 2004

Strategic Sourcing Provider Signs 43 New Long-Term Agreements and

Maintains Its 100% Renewal Rate

Procuri Inc., a leading provider of strategic sourcing solutions, today reported a record fourth quarter in 2003, with a significant year-over-year increase in revenue and customers. Procuri is committed to being the leader of the strategic sourcing market. By empowering companies to achieve their goals pertaining to ROI and to better predict and control their sourcing strategies, Procuri's customers have been able to gain a significant competitive advantage in their respective industries. As a result, Procuri continues to be a market leader in customer acquisition by adding companies in many different market sectors.

Procuri's 2003 revenue increased 80 percent year-over-year from its successful close in 2002. With the current level of prospective customer interest and pilot conversion rates, Procuri forecasts similar revenue and earnings growth for 2004.

Customers Continue To Choose Procuri for Its Strong Solutions, Industry Knowledge and Customer-Centric Approach

Procuri signed 43 new customers to long-term agreements in 2003. Twenty-two companies selected Procuri as their strategic sourcing provider during the fourth quarter of 2003 alone. These new customers are from a wide variety of industries and include AMCOR, Amerada Hess, Beverly Enterprises, Cox Enterprises, Food Lion, HCA Management Services and Marathon Ashland Petroleum LLC. With more than 100 customers, Procuri currently ranks among the largest global strategic sourcing providers.

Since its inception, Procuri has yet to lose a customer that was previously signed to a long-term agreement. In 2003, 15 long-term agreements were scheduled to expire and all of these customers elected to extend their contracts with Procuri including the Naval Supply Systems Command (NAVSUP) and PolyOne. Additionally, many of the renewal customers opted for multi-year extensions.

Leading the International Strategic Sourcing Market Forward

Procuri continues to consider international companies to be a strong source of demand for its sourcing solutions. In 2003, Procuri gained significant customer traction in Europe, equating to more than 25 percent of Procuri's total revenues. Due to its past success and the belief that international sales will continue to be a strong source of business, Procuri plans to invest more resources in the international markets. Specifically, Procuri will expand its sales and customer support efforts in Germany and France in 2004. Additionally, Procuri will support Simplified Chinese, Japanese and Dutch languages this year.

"Procuri has proven its leadership position in the strategic sourcing marketplace. Through its financial success, customer acquisition and continued focus on sourcing solutions, the company has emerged as a clear market leader, in contrast with considerable industry consolidation," said Mark F. Morel, Sr., Procuri's president and chief executive officer. "Looking ahead, we can expect another landmark year for Procuri in 2004, based on the current sales pipeline, increase in license revenue and longer contract lengths."

About Procuri, Inc.

Procuri's strategic sourcing solutions empower its more than 100 customers to create a competitive advantage in the sourcing arena. Procuri's solutions help companies achieve rapid ROI, reduce cycle times and improve buyer efficiencies. Procuri's ability to leverage industry best practices and enable its customers to better predict and control their success in the sourcing process has led to the company's unequaled 100 percent customer retention rate. Customers include Procter & Gamble, Eastman Kodak, ITT Industries, KLM Royal Dutch Airlines, Rio Tinto and U.S. Steel, among others. For more information, call 1-877-360-1600 or visit www.procuri.com.

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