Clarus Settlement Closes the Payment Cycle for Online Transactions

Business Wire, Dec 5, 2000

Business Editors

ATLANTA--(BUSINESS WIRE)--Dec. 5, 2000

Delivers First Global Payment Settlement

Capabilities for Online Exchanges;

Enhances Exchange Value While Reducing Transaction Costs

Clarus Corporation (www.claruscorp.com, NASDAQ:CLRS), a leading business-to-business (B2B) e-commerce software solution provider, today announced the launch of its Clarus(TM) Settlement 2.01. The global settlement solution is the first generally available end-to-end online global procurement solution with multiple currency capabilities, offering secure payment settlement for buyers and suppliers, thereby automating and streamlining the settlement process for B2B commerce platforms, and significantly reducing waiting, processing and administrative costs associated with offline settlement.

Capitalizing on over nine years of global experience in payment and settlement applications, Clarus has worked with over 70 banks and financial institutions around the world, integrating their own applications with proprietary banking systems, clearinghouses, and credit card providers through VisaNet. Clarus Settlement allows trading partners to offer enhanced value added services by enabling the completion and settlement of a wide range of transactions both now and on defined dates in the future as exchanges grow in size and global reach. Clarus Settlement automates the fee payment, presentation, collection and revenue management processes for an exchanges buyers and suppliers. Future releases scheduled in 2001 will include a robust reconciliation engine and an e-netting feature and which will help reduce transaction costs significantly by enabling on line transaction consolidation. These capabilities can mean tremendous cost savings for a net market maker, as well as enhancing the value of the exchange, speeding transactions, shortening the order to cash cycle and improving efficiencies for its members.

Clarus Settlement is flexible to meet the diverse business needs of trading customers, as evidenced by its capability to enable the completion of transactions in over 180 currencies. Similarly, Clarus Settlement is able to work seamlessly with any B2B trading platform, such as Ariba, Commerce One, Oracle, and of course Clarus.

"Clarus Settlement, with its established relationships with financial institutions, flexibility and global reach, is capable of delivering significant present and future benefits to our customers," said Steve Jeffery, CEO and president for Clarus. "This is a solution that works for businesses in the start-up, growth or mature stages of development, offering increased accuracy, better cash management, and lower processing costs, among other benefits. At the end of the day, you must take action to automate and improve the speed of the payment processes for on line transactions beyond a credit or procurement card option. Clarus Settlement provides this robust functionality and delivers on the promise of enabling a shorter order to cash cycle."

Clarus Settlement is an open, interoperable trading application available through ClarusNet(TM), as a licensed set of applications or as a subscription-based licensed application hosted by Clarus. This robust settlement solution completes financial transactions including those using Purchasing and Procurement cards, credit cards, ACH, BACS, Direct Debit, and various other trade payment terms.

Clarus Settlement is based on the Microsoft Commerce Server 2000/NT/SQL/Biz Talk architecture, a platform that supports rapid deployment and scalability. Clarus Settlement 3.0 will be delivered in early 2001. For more information on the Clarus Settlement solution, visit www.claruscorp.com/paymentsettlement.

About Clarus

Atlanta-based Clarus Corporation (www.claruscorp.com; NASDAQ: CLRS), a leader in business-to-business (B2B) e-commerce, provides B2B procurement software and trading services that exploit the global marketplace of the Internet to manage corporate purchasing and enable digital marketplaces. ClarusNet(TM), a fully managed service portal, provides a comprehensive range of critical trading services such as payment settlement, supplier enablement, auctions, integration, and analytics. Designed to provide unprecedented interoperability, ClarusNet(TM) enhances the value and speeds delivery of any B2B trading platform including Clarus eProcurement(TM) and Clarus eMarket(TM). Microsoft recently honored Clarus with one of the highest awards possible as the Microsoft Global eCommerce Solution of the Year. Clarus solutions are being deployed at customer sites including Burlington Northern Santa Fe Corp., Cinergy, Comcast Corporation, AvidXchange, HispanB2B, Gjensidige NOR, MasterCard International, MetLife, Parsons Brinckerhoff, Perot Systems and Wachovia.

THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE SECURITIES ACT OF 1933 AND SECTION 21E OF THE EXCHANGE ACT. ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS AS A RESULT OF CERTAIN RISKS INCLUDING THAT THE BENEFITS EXPECTED BY THE COMPANY AS A RESULT OF THIS ANNOUNCEMENT MAY NOT OCCUR.