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7/12/04: AAFES Extends Reverse-Auction Contract, Two Years After Saving Millions

Sorcity continues helping clients save millions

DALLAS, TX - July 12, 2004... Sorcity.com, Inc. announces their 2-year contract extension from the Army Air Force Exchange Service (AAFES) to continue providing Reverse-Auction services and support.

"This extension is a result of our success in leveraging Reverse-Auctions which have already saved AAFES millions of dollars. We are very pleased with the performance and professional services of Sorcity.com," said Hayward Moore, C.P.M., Chief, Procurement Branch.

AAFES has demonstrated that Reverse-Auctions can be applied not only to expense or MRO items, but also to resale items in their exchanges on both generic and private label products. This leadership on the retail side provides US armed forces with a better value on the goods they buy.

Internet Reverse-Auctions have proven successful for years in lowering the price organizations pay on almost any good or service. The Sorcity.com model makes it easier since there is no software, training, or consultants in the mix, just a simple web-accessible service backed by a highly effective sourcing organization that delivers a 12-18% average savings and over 60% in some cases.

"New methods don't come without controversy, and Reverse-Auctions had their share when they were introduced years ago," said Wes Guillemaud, CEO of Sorcity.com, Inc. "But after 6 years of success," Guillemaud continued, "It is crystal clear that if used correctly, Reverse-Auctions will save just about any purchasing organization a substantial amount of money, and it's an easy way for purchasing professionals and CFOs to shine."

Sorcity.com has hundreds of clients with some impressive testimonials listed on its web site. These clients represent a variety of industries from aerospace to consumer goods including government and school districts. Sorcity.com has helped these clients save millions of dollars on everything from complex engineered tooling to office supplies and packaging. For any company or government agency not wanting to make an investment, it is perfect.

Recognized in the NAPM Technology Guide and Purchasing magazine as a leading Reverse-Auction service provider, Sorcity.com has a history of delivering savings to the business and government markets. Sorcity.com's mission is to help organizations in all industries reduce their time spent on sourcing while saving them money, and to provide sellers a lower cost channel of business. Suppliers may visit www.sorcity.com/AAFES for information on how to do business with AAFES.

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