NEC Electronics Deploys Webango's SourceSelect Application Semiconductor Industry Leader to Implement Webango for Supplier Selection and Contract Management

Business Wire, April 24, 2001

Business Editors/High-Tech Writers

SANTA CLARA, Calif.--(BUSINESS WIRE)--April 24, 2001

Webango, Inc., (www.webango.com) a leading provider of a web-based sourcing solutions for Global 2000 procurement organizations, today announced that NEC Electronics Inc., (www.necel.com), a leading designer, manufacturer, and supplier of innovative semiconductor technologies, will use Webango to centralize and manage its corporate sourcing activities.

NEC Electronics Inc. is the U.S. semiconductor arm of NEC Corporation (NASDAQ:NIPNY), which has more than 150,000 employees worldwide and revenue of US$ 48 billion. Using the Webango applications, the semiconductor supplier is planning to add the sourcing and contracting processes to its information systems backbone.

The Webango deployment at NEC Electronics is expected to start immediately. NEC Electronics will use the Webango SourceSelect(TM) application to streamline the sourcing of indirect goods and services as part of the headquarter operations. NEC Electronics is responsible for purchasing products and services for the company offices nationwide.

"We believe that SourceSelect will bring us the best-practice process we need to achieve internal efficiency," said Gerry Perrotta, senior manager of purchasing and corporate services at NEC Electronics. "It will help us negotiate better terms with suppliers, and analyze and track data effectively."

NEC Electronics was an original design partner and beta tester of the Webango SourceSelect application, and it is currently a member of the Webango Industry Advisory Council (IAC).

"NEC Electronics has been a valuable partner to us from the beginning," said Rami Goraly, founder, president, and CEO of Webango. "The NEC Electronics' procurement team provided us with invaluable feedback during the design and testing stages of SourceSelect. We are proud to formalize this long-standing relationship and take it to the next level."

About NEC Electronics Inc.

NEC Electronics Inc., headquartered in Santa Clara, California, is one of the leading developers, manufacturers and suppliers of semiconductor products in North America. Committed to meeting customers' cost, performance and time-to-market requirements, the company offers solutions ranging from standard products to system-on-a-chip (SOC) solutions, as well as customized products for next-generation designs. NEC Electronics also offers customers the benefits of a state-of-the-art manufacturing facility in Roseville, California, and the global manufacturing capabilities of its parent company, NEC Electron Devices, the semiconductor arm of NEC Corporation (NASDAQ:NIPNY). For more information about products offered by NEC Electronics Inc., please visit the NEC Electronics web site at http://www.necel.com.

About Webango

Webango, Inc. provides eBusiness software solutions for Global 2000 companies, industry-backed Net Markets, and government agencies. Web-based technology and best practice content is combined in applications designed to select suppliers, negotiate contracts and develop and manage long-term business relationships. Webango built early working relationships with major companies from different industry sectors, including Eastman Chemical Company (NYSE:EMN) and Cisco Systems (NASDAQ:CSCO). Eastman, Cisco, and a number of other industry leaders were instrumental in defining and beta testing SourceSelect, Webango's first application. The Webango applications result in shorter cycle time, improved financial results, and long-term competitive advantage. Based in Santa Clara, California, Webango was founded in 1998 and received $20 million in its first round of funding in June 2000 from Battery Ventures, Concord Ventures, and Redwood Ventures. For more information, call 888.350.0254 or visit www.webango.com.

Note to Editors: NEC Electronics Inc. is either a registered trademark or trademark of NEC Corporation in the United States and/or other countries. All other registered trademarks or trademarks are property of their respective owners.

Webango, Webango, Inc., and SourceSelect are trademarks or registered trademarks of Webango, Inc. All other company names are property of their respective owners.