Quaker Executive Named B2BWorks' CFO; Quaker Oats' Director of Corporate Planning and Analysis Joins Nation's Largest Online Business-to-Business Advertising Network

Business Wire, Feb 1, 2000

Business Editors

CHICAGO--(BUSINESS WIRE)--Feb. 1, 2000

B2BWorks, the nation's first full-service, online business-to-business advertising network, announced today that Joseph Lorenz, former director of corporate planning and analysis for The Quaker Oats Company, will join B2BWorks as the company's CFO.

Lorenz, who most recently was responsible for developing Quaker's strategic long-range plan and annual operating plan, brings nearly 20 years of financial management and strategic planning experience to B2BWorks. As CFO, Lorenz will be responsible for developing B2BWorks' financing strategies and control procedures that will track the companies progress and fund its expansion.

&uot;B2BWorks, along with the rest of the online b-to-b industry, is in a tremendous growth mode right now,&uot; Lorenz said. &uot;There is a sense of excitement that surrounds the company, and I look forward to developing and managing the financial functions that will enable B2BWorks to underwrite its expansion.&uot;

After receiving his M.B.A. from the University of Chicago in 1981, Lorenz began his career as a financial analyst for Quaker in the corporate planning department. Lorenz also served as a senior analyst in the company's treasury department, senior manager of business development, and finance director of Quaker's convenience foods retail division. Most recently, he has played a key role in developing the strategies that propelled Quaker from the bottom to the top of the food industry performance as measured by the total shareholder return over the past three years.

&uot;Because Joe worked in so many different financial management arenas with Quaker, he has significant experience in strategic planning, investor relations, organizational development and corporate financing,&uot; said Bill Furlong, B2BWorks president and CEO. &uot;Our growth has been phenomenal so far and as we continue to strategically map our future, Joe will be a critical resource.&uot;

A University of Wisconsin--Madison alumnus, Lorenz graduated in 1979 with a B.B.A. in marketing and finance. His master's degree at the University of Chicago focused on finance, accounting and international business. Lorenz currently resides in Wilmette, Ill.

About B2BWorks

B2BWorks (www.b2bworks.net) is the nation's first and largest full-service, online b-to-b advertising network that gives marketers one-stop access to a wide range of the most popular business-content sites owned by leading trade publishers and associations. B2BWorks helps business marketers drive traffic to their corporate sites, and enhances their plans for e-commerce, sales force automation, and distributor-channel communications. Founded by Bill Furlong, president and CEO, B2BWorks is headquartered in Chicago with offices in New York, Boston and San Francisco.