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FOR IMMEDIATE RELEASE

Press Release

CombineNet Hires Renowned Global Expert in Supply Chain Management Technology

PITTSBURGH, PA—February 3, 2003

CombineNet today announced it has hired Yuri Smirnov, Ph.D., accomplished technologist, algorithms expert, entrepreneur, and Supply Chain Management (SCM) expert to supplement CombineNet's world-renowned team of experts, who continue to broaden the company's technology lead in optimizing markets and decision support technologies.

Dr. Smirnov's expertise reflects a solid foundation in research as well as practical application of the latest technologies to meet evolving business demands," said Tuomas Sandholm, PhD, founder of CombineNet and the company's chairman and chief technology officer. "His capabilities, education, and industrial background are ideally suited to support CombineNet's core business focus, to build the advanced optimization solutions that power expressive competition within our customer base."

Dr. Smirnov's 15-year career comprises a proven track record in Enterprise software product development, partner alliances, and operating management. His experience encompasses ERP, SCM, CRM modeling and optimization.

In 2000, Dr. Smirnov founded Akonite, where he built a technology-oriented executive team, and negotiated and managed significant revenue-generating projects with leading U.S. companies such as Siebel and BEA Systems. Prior to this, he was a senior staff architect for Calico Commerce, where he designed, implemented, and delivered new configuration and supply chain products to key customers such as Dell, Gateway, and Siemens. He acquired his world-leading expertise in Supply Chain Management from RedPepper, the SCM division of PeopleSoft, where he was instrumental in orchestrating the first joint ERP/SCP release between PeopleSoft and RedPepper.

Prior to coming to the U.S., Dr. Smirnov was the laboratory chief and director of business development at Leninets, where he negotiated the largest joint venture in Russia at that time, between Leninets and Gillette. He led the design of airborne signal and data processors in 1985-89, and facilitated partnerships with both Western European and U.S. companies to jointly design and develop civilian and commercialized military technologies.

Dr. Smirnov has published numerous articles about supply chain planning in computer science journals and conference proceedings. He earned Bachelor of Science and Master of Science degrees in Mathematics and Operations Research from St. Petersburg State University in Russia, and holds a PhD in Computer Science and Operations Research from Carnegie Mellon University.

About CombineNet

CombineNet, the advanced sourcing technology company, helps companies achieve the absolute best value and lowest total cost of ownership for goods and services. CombineNet's Advanced Sourcing Application Platform enables companies to engage in Expressive Commerce™, the strategic sourcing initiative that allows buyers and sellers to communicate supply and demand more expressively, collaboratively and strategically. The result is a win-win for both buyer and supplier, where greater innovation and efficiency are driven into the supply chain. CombineNet's ASAP consistently produces 10, 15, even 20 percent greater actual cost savings than other e-sourcing solutions, and has delivered more than 45x ROI for the largest businesses in the world including General Mills, PepsiCo, Procter & Gamble, Siemens and others. For more information, visit www.combinenet.com.

Media Contacts:

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

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