VERT Verticalnet (MM)

Verticalnet, Inc. (Nasdaq:VERT), a leading provider of on demand supply management solutions, today announced that Alliance & Leicester, one of the UK�s leading financial services organizations, has signed a multi-year subscription agreement for Verticalnet� XE Negotiation Manager, a component of the Verticalnet XE Supply Management Suite. When Alliance & Leicester, the eighth largest bank in the UK and among the top 200 in the world, sought a leading-edge solution to increase addressable spend and reduce sourcing cycle times, the award-winning bank selected Verticalnet XE Negotiation Manager. After a competitive evaluation that included a long standing incumbent, Verticalnet was selected due to XE Negotiation Manager�s ease of use and Verticalnet�s proven ability to drive improved negotiation savings through the use of online auctions, as well as the strength of local support that Verticalnet was able to provide. "Having strong functionality with the right supply management team supporting the solution was important to the success of our program," said John Watts, Alliance & Leicester�s Head of IT & Telecoms Procurement. �We selected the Verticalnet XE Negotiation Manager solution because it was the solution best suited to both meet our requirements and enable the delivery of our savings goals.� Verticalnet XE Negotiation Manager enables sourcing organizations to accelerate and improve negotiated savings through online auctions and eRFX events. About Verticalnet Verticalnet is a leading provider of supply management solutions that enable companies to identify and realize sustained value across the supply management lifecycle. Going beyond traditional spend management and sourcing approaches, Verticalnet�s solutions provide the visibility, insight and process control required to maximize the sustained value realization from supply management. Large enough to help customers attain supply management success worldwide, yet nimble enough to provide individual attention and remain focused on customer priorities, Verticalnet is helping leading Global 2000 companies and mid-market enterprises move their supply management efforts to the next level through an optimal blend of software, comprehensive services, and deep category knowledge and domain expertise. To learn more, please visit us at www.verticalnet.com