Verticalnet to Deliver Comprehensive Global Spend Analysis and Strategic Sourcing for Industry-Leading Invensys Group; Global Sourcing Program Aimed at Improved Efficiency, Process Standardization and Cost Reduction

Business Wire, May 8, 2006

MALVERN, Pa. -- Verticalnet, Inc. (Nasdaq:VERT), a leading provider of on-demand supply management solutions, today announced that it has signed a license and services agreement with Invensys, a multi billion dollar leader in global automation, controls and process solutions. Components of the powerful Verticalnet XE Supply Management Solution Suite will provide Invensys with visibility into its world-wide spending across multiple sourcing systems and the enabling technology to support a global sourcing initiative.

Invensys' business requirements included the need for a spend analysis solution that provided visibility into spend across approximately 15 key facilities in the North America, Europe, Middle East Africa, and the Asia Pacific regions. The initiative will seek to identify and then realize sourcing opportunities to meet Invensys' savings goals for 2006 and beyond. Invensys plans to transition all worldwide sourcing initiatives to modules of the Verticalnet XE Supply Management Suite including spend analysis, strategic sourcing, and program manager. The Verticalnet XE Program Manager module will be used to assure adherence to Invensys' current seven-step sourcing process. This will allow Invensys to meet its goal of a standardized sourcing platform and process designed to significantly reduce its cost structure and improve the efficiency within its worldwide supply chain.

"We are very pleased to announce that Verticalnet has been awarded the contract for our upstream spend management solution," states Jeff Green, Vice President, Invensys Process Systems, Inc. "We evaluated several companies and approaches to meet our spend visibility and sourcing requirements, including our former incumbent provider. We were impressed with the people and product offered by Verticalnet. The comprehensive spend analysis capabilities, rapid implementation timeline, and strong experience of Verticalnet met the unique needs of Invensys." Mr. Green concludes, "The Verticalnet team won not only because of the strength of its products, but because of the commitment to our success demonstrated during our evaluation."

"Verticalnet is excited to be working with an industry leader like Invensys on a project of this magnitude," states Nathanael V. Lentz, President and CEO of Verticalnet. "The competition to win the Invensys business was challenging. This is a tremendous win for Verticalnet and a great team effort. One key to the Verticalnet competitive success at Invensys was the fact that the Verticalnet XE suite is on-demand. Our on-demand capability across our entire XE Suite of solutions means that Invensys will be able to see results sooner without lengthy software implementations and costly software upgrades." Lentz concludes, "Verticalnet XE's on-demand capabilities can provide Invensys with optimal spend visibility, sourcing and negotiation results at a low cost of ownership."

About Verticalnet

Verticalnet is a leading provider of on-demand supply management solutions that enable companies to identify and realize sustained value across the supply management lifecycle. Going beyond traditional spend management and sourcing approaches, Verticalnet's solutions provide the visibility, insight and process control required to maximize the sustained value realization from supply management. Large enough to help customers attain supply management success worldwide, yet nimble enough to provide individual attention and remain focused on customer priorities, Verticalnet is helping leading Global 2000 companies and mid-market enterprises move their supply management efforts to the next level through an optimal blend of software, comprehensive services, and deep category knowledge and domain expertise.

The Verticalnet XE Supply Management suite is available on-demand and includes:

--Verticalnet(R) Program Manager -- lowers the total cost of ownership and improves productivity for strategic sourcing through sound and re-usable program and process management

--Verticalnet(R) Spend Manager -- a fast, intelligent, and repeatable spend analysis solution for identifying, evaluating, and quantifying enterprise-wide sourcing opportunities while measuring compliance

--Verticalnet(R) Negotiation Manager -- accelerates and improves negotiated savings through online auctions and eRFX events

--Verticalnet(R) Procurement Manager -- simplifies and improves control over the procurement process to help companies realize the maximum cost savings identified through supplier sourcing and negotiation

--Verticalnet(R) Contract Manager -- provides real-time insights into contract obligations, exposures, expirations, changes and renewals delivering greater control, reducing costly oversights and minimizing supplier risk

--Verticalnet(R) Performance Manager -- enables companies to effectively track and manage supplier performance, contract compliance and identify potential areas of supplier risk

To learn more, please visit us at www.verticalnet.com.

Verticalnet is a registered trademark or a trademark in the United States and other countries of Vert Tech LLC