SteelBoss Delivers Cost Savings and Process Improvements Using CableNet Solutions; E-Marketplace...

Business Editors/High-Tech Writers

LONDON--(BUSINESS WIRE)--Nov. 21, 2002

CableNet International Ltd, the collaborative supply chain management company, today announced that SteelBoss, the open marketplace for the steel industry with more than 1,300 registered users, is using CableNet's

CableNet's suite of applications will allow SteelBoss members to extend the scope of their e-business activities from marketplace-based negotiation, which has proved very effective at driving down costs, to full collaboration with business partners. Internal data on inventory and forecasts can be shared with suppliers, allowing more efficient inventory management, reducing costs right along the supply chain and benefiting supplier and buyer equally.

SteelBoss has already completed more than 100,000 transactions in its first year of trading. The e-marketplace offers members inexpensive access to their own private vendor and customer groups as well as the ability to access the thousands of other members in The Steel Marketing Network. Now, SteelBoss is also able to offer the CableNet supply chain management suite, which includes best-of-breed applications to automate the full range of order management transactions, from order placement to invoicing, and allows buyers to implement a vendor managed inventory program.

"Working with CableNet has placed SteelBoss at the forefront of e-business technology," said Ken Hensey, President of SteelBoss. "Companies are joining our e-marketplace for the simple reason that it makes buying products easier and cheaper. With CableNet providing the robust and flexible foundation for supply chain management, we are able to deliver significant supply chain process improvement and cost reduction to both suppliers and buyers alike."

"I am delighted SteelBoss has chosen to extend CableNet's best-of-breed software and services to its customers," said Errol Damelin, Chief Executive of CableNet. "We look forward to demonstrating to SteelBoss customers the tangible business benefits we are already delivering to other users."

CableNet can be found at http://www.cablenet.com/.

About SteelBoss.com

SteelBoss.com is a new service from Steel Marketing Inc. SteelBoss is a subscription based service that offers dozens of features designed to be a very economical solution for companies to access the worldwide supply chain in steel. The company offers members inexpensive access to live contact with their own private vendor and customer groups as well as the ability to access the thousands of other members in The Steel Marketing Network. SteelBoss can be found at http://www.steelboss.com/

About CableNet International Ltd.

Headquartered in London, UK, with offices in Hickory, NC, CableNet International Ltd. designs, deploys and operates private supply chain visibility and collaboration solutions that deliver significant, measurable value. CableNet products feature a web-based, many-to-many architecture that enables manufacturers, distributors and suppliers to collaborate with their business partners to reduce inventory and improve customer service levels and sales. CableNet can be found at http://www.cablenet.com/.