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SAPMarkets,
Meet World Trade and Affiliates Bring Together Customers And Suppliers
in Asia.
July 31, 2001
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Meet
World Trade, MeetChina.com, EC 21, dba MeetKorea.com,
Meet World Trade (Thailand) and SAPMarkets Offer Customers
Access to More Than 30,000 Suppliers in Asia
SHANGHAI, China, and SINGAPORE - July 31, 2001 - SAPMarkets,
Inc., the exchange company of the SAP group, today announced
an agreement with Meet World Trade, Inc., and its affiliates
to provide SAPMarkets' exchange customers with access
to over 30,000 suppliers in the Asia Pacific region.
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addition to Meet World Trade, the agreement includes MeetChina.com,
EC 21, Inc., doing business as MeetKorea.com, and Meet
World Trade (Thailand). Meet World Trade and its affiliates
constitute a leading online network for sourcing suppliers
throughout Asia and offer one of the most comprehensive
selections of supplier content in the region. |
Meet
World Trade estimates that it costs manufacturers an average
of $70,000 (U.S.) to source and qualify a new supplier in
the emerging economies of Asia. Meet World Trade will dramatically
reduce those costs for SAPMarkets' exchange customers and
help them expand their system of suppliers.
"Meet
World Trade and its network affiliates are pleased to be working
with SAPMarkets," said Leonard Cordiner, CEO of Meet
World Trade. "We look forward to our continued close
cooperation to provide Internet-based strategic sourcing content
and services to help global buyers identify high-quality suppliers
and source more efficiently from Asia."
The
agreement with Meet World Trade marks the beginning of SAPMarkets'
supplier enablement strategy in Asia. A key component of the
SAPMarkets Partner Program is to bring together suppliers
with buyers and exchanges worldwide. As a Key Partner in the
SAPMarkets Partner Program, Meet World Trade will bring suppliers
to SAPMarkets' exchange customers through the Meet World Trade
supplier network
"SAPMarkets is experiencing a demand for its exchange
technology from companies working in the Asia Pacific Region,"
said Zia Yusuf, managing director of SAPMarkets Asia Pacific.
"As our customers build and plan out their exchange and
procurement strategy, they will need access to high-quality
and low-cost suppliers in this important region of the world.
Our relationship with Meet World Trade will fulfill this need
by providing our customers with access to a diverse range
of suppliers."
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About
Meet World Trade
Meet
World Trade is an online network of Asian Internet marketplaces
that uses a combination of online and offline resources to
help purchasing professionals source vendors in developing
economies. Meet World Trade's strong local language Internet
presence in China, Thailand, India and Korea, as well as its
strong support staff in these countries, uniquely positions
MWT to assist enterprises and SMEs to establish vendor networks
in Asia in a compressed time frame. MWT's hybrid of online
and offline resources is defining a new and better approach
to sourcing from Asia.
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About
SAPMarkets
SAPMarkets
is the exchange company of SAP (NYSE: SAP) and delivers solutions
that automate business processes across boundaries. Based
in Palo Alto, Calif., SAPMarkets currently enables over 1,100
companies worldwide to use the Internet for greater agility,
precision and profitability.
SAPMarkets,
Inc. is a wholly owned subsidiary of SAP AG. Any statements
contained in this press release that are not historical facts
are forward-looking statements as defined in the U.S. Private
Securities Litigation Reform Act of 1995. Words such as "believe,"
"estimate," "intend," "may,"
"will," "expect" and "project"
and similar expressions as they relate to SAP are intended
to identify such forward-looking statements. SAP undertakes
no obligation to publicly update or revise any forward-looking
statements. All forward-looking statements are subject to
various risks and uncertainties that could cause actual results
to differ materially from expectations. The factors that could
affect SAP's future financial results are discussed more fully
in SAP's filings with the U.S. Securities and Exchange Commission
(the "SEC"), including the SAP Annual Report on
Form 20-F for 2000 filed with the SEC on March 28, 2001. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of their dates.
For
more information, press only:
Andrew Fowler, Waggener Edstrom for SAPMarkets, (503) 443-7000,
andrewf@wagged.com
Paula Stout, SAPMarkets, (650) 849-2651
paula.stout@sapmarkets.com
Anya McDonald, SAPMarkets Asia Pacific, (65) 768-6248, anya.mcdonald@sapmarkets.com
Andy Krumholz, Meet World Trade, (415) 288-0380
andy_krumholz@meetworldtrade.com
Phyllis Fang, Meet World Trade Asia Pacific, (852) 9198-6596,
phyllis_fang@meetworldtrade.com
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