000602 SellMEAT.com Announces Phase One Launch

Liberty, MO - SellMEAT.com, the leading online business-to-business marketplace for the meat and poultry industry, announced the successful launch of the first phase of its online exchange with overwhelming support from over 1,000 top industry companies. SellMEAT.com is using technology to transform the way fresh and frozen meat is bought and sold using a customized software package focused on the industry-specific needs of meat and poultry professional user groups.

The Web-enabled marketplace provides meat and poultry packers, processors, traders, brokers, foodservice distributors and retailers with the ability to negotiate product pricing and availability through SellMEAT.com's real-time sourcing, bidding and ordering system. The industry is testing net-supported business practices for the first time, and users are providing SellMEAT.com's online customer service department with valuable input on future site enhancements. Meat and poultry professionals are looking for quicker and more efficient methods to meet the ever-increasing market demand for fresh protein.

“We're pleased to introduce industry-specific technology solutions to a growing roster of registered members,” said Wayne Rice, SellMEAT.com chief executive officer. “In order to deliver a world-class user experience we're conducting an outbound calling campaign to maintain an open dialog with our members. This critical feedback allows us to improve and evolve our marketplace to continuously meet market needs. Though this is only the first stage of development, our ultimate mission is to streamline the meat and poultry transactional process through a full range of online support services, which will save the industry millions of dollars. We will continue to develop the customized technology to support additional services in the coming weeks.”

SellMEAT.com's technology partner, Influence LLC, implemented an object- oriented analysis and design strategy through its patented Q2M (Quality Quick to Market) methodology to accelerate SellMEAT.com's Web site development. Influence was able to design and launch the online meat and poultry exchange in three months by developing the server applications, database, operation center and custom graphic user interface design in parallel. The electronic trading platform employs technologies that maintain rapid loading speed and low bandwidth combined with an easy to navigate user interface allowing fast, comfortable and personal interaction with industry professionals looking to buy and sell commodity meat products. SellMEAT.com delivers technology-driven efficiencies via a Microsoft solution platform that uses Active Server Pages (ASP), MTS components and a Microsoft SQL 7 Database Server. The company's Web site is compatible with Microsoft Explorer and Netscape browsers.

The company is introducing new online components to existing distribution channels, making the buying and selling process more efficient. Initial service offerings include electronic trading with a dynamic pricing model, which allows buyers and sellers to communicate one-on-one without human intervention. As the market expands and the company gains momentum, additional services will be offered, including online freight brokering, co-branded virtual storefronts, online software applications, equipment sales and banner advertising.

SellMEAT.com's trading platform allows sellers to offer products through an open market scenario, creating an environment for sellers to reach a significantly larger audience than is currently accessible through traditional communications methods. The company's marketplace is designed for quick implementation and easy customization, enabling the interactive engine to respond to emerging customer needs and changing market demands. Buyers can sort inventory by species, product type, supplier and fresh or frozen status to filter the large volumes of product information. This personalization function saves significant time and allows members to view and receive notification about specific product availability without wading through irrelevant information.

Additional value-added functions include online credit management and e- reports. The credit management element helps suppliers control their interface to the open market by allowing sellers to screen buyers, authenticate orders and verify creditworthiness through electronic credit applications. Buyers are approved, rejected or put on hold based on sellers' credit requirements. Comprehensive electronic reports allow members to review online activity, inventory and transaction status. SellMEAT.com's users can sort data by date and product for easy integration with their internal billing and tracking applications. The electronic reports help members manage buying and selling activity, identify profit centers and capitalize on cost savings opportunities. These reports also allow SellMEAT.com to track sales and consolidate transaction information to identify trading trends and patterns.

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