CombineNet Wins Prestigious Federal Grant

NIST awards $1.84 million to leading combinatorial science firm.

PITTSBURGH, PA—June 11 , 2002

CombineNet, Inc., a developer of advanced combinatorial optimization software that solves complex business allocation problems, will receive a $1.84 million grant from the National Institute of Standards & Technology (NIST). Reports announcing the NIST grant follow recent news of the Company's closure of $6 million in venture capital. Moreover, in a recent Business 2.0. article, CombineNet's specialty, combinatorial science, was highlighted as "one of the eight new technologies that will change the world."

The Business 2.0 article likened the impact of combinatorial science to that of spreadsheet software. Said Tony Bonidy, CombineNet's CEO,

We are the standard-setter in one of the more significant and helpful technologies of our time. The NIST grant distinguishes our credibility and the Business 2.0 article represents the first, mainstream publication to highlight how this technology is delivering competitive advantage to world class companies."

Through its flagship product, called ClearBox, CombineNet has pioneered the commercial application of combinatorial optimization software. In the NIST Project, CombineNet will develop additional dimensions to ClearBox that pose high technology risks, but at the same time, vast economic potential. Led by Dr. Tuomas Sandholm, CombineNet's CTO, CombineNet will be working with leading researchers at Carnegie-Mellon University, Harvard University, Northwestern University, University of California (Santa Barbara), University of Toronto, and University of British Columbia.

Media Contacts:

Greg Holt
CombineNet Inc.
Director of Marketing
Phone: 412.471.8200
gholt@combinenet.com