Procuri Increases Momentum in European Market

Business Wire, Oct 10, 2007

Company Gains New Customer Wins and Expands Support in European Marketplace

ATLANTA -- Procuri Inc., the leading global provider of On Demand Supply Management solutions, today announced its growing traction in Europe with the addition of several new customers and the expansion of support in the region.

With nearly one-third of the company's customer base and revenues attributed to Europe, the region's operations continue to reinforce Procuri's global presence as the most used On Demand supply management solutions in the industry. New European-based customers include Afton Chemical, Aker Kvaerner, Allergan, Birse Rail LTD, Kongsberg, OMX and Southern Water Services. This adds to Procuri's dozens of other European customers - such as Air France-KLM, Barclay's, Compass-Group, UPM-Kymmene, The Boots Company Plc and NATS - that have come to rely on the company's On Demand solutions to support their sourcing, supply management, and contract management initiatives.

Procuri's unique Best Practice Center (BPC), which offers sourcing, contract, and supplier management process expertise as an On Demand service, has helped accelerate support and system adoption among European customers. With the flexibility and speed of On Demand solutions, European customers have deployed the solutions in a matter of a few weeks, achieving quick and sustained results including process efficiencies, cost savings, improved productivity, and enhanced supplier performance.

Afton Chemical Realizes Fast Results Using Procuri TotalSource

Web-based, no software to install, zero cost to suppliers, and easy to use - all reasons why Afton Chemical, a US based global fuel and lubricant additive supplier, selected Procuri TotalSource as its strategic sourcing solution. The solution was deployed to the company's global procurement groups in the United States and United Kingdom. The company's first bidding event for raw materials was extremely successful, generating significant savings.

Following the event, Afton Chemical garnered feedback from participating suppliers to find out each supplier's experience with the solutions. "It is important to us that our suppliers were comfortable with the new process," said Ash Jones, European purchasing manager for Afton Chemical, who used Procuri TotalSource at his previous employer and brought in the solution at Afton. "The feedback was extremely positive from all suppliers - those who had used other sourcing solutions said Procuri's was a step above the competition in terms of ease-of-use and functionality."

Because of the success the company has seen with using strategic sourcing solutions for raw materials, they are now exploring other spend categories in which to apply TotalSource. "We were very pleased with the results we realized sourcing our raw materials and are now exploring using the solution for indirect materials and services," commented Jones.

Procuri TotalSource is a comprehensive sourcing solution designed to help strategic sourcing teams collaborate and negotiate more efficiently and derive supplier agreements that deliver the lowest total cost of ownership and the best-value. Procuri's On Demand sourcing solution makes it easy to engage and qualify suppliers; involve internal stakeholders in sourcing projects, negotiate on multiple factors; and to reinforce standard processes and best practices.

"Procuri's European and global growth has been consistently strong throughout the years. The trend we are now seeing in the marketplace is companies increasingly adopting a variety of supply management solutions like contract management, spend analysis and supplier management, in addition to strategic sourcing," says Tobias Hannon, regional director for Procuri. "We expect this trend to get stronger over time."

About Afton Chemical

Afton Chemical Corporation is a wholly owned subsidiary of NewMarket Corporation (NYSE:NEU). Afton Chemical develops and manufactures petroleum additives that enhance the performance of lubricating oils and fuels to enhance their performance in machinery, vehicles, and other equipment. From custom-formulated chemical blends to market-general additive components, Afton Chemical technology helps fuels burn cleaner, engines run smoother, and machines last longer.

About Procuri Empower 2007

Procuri Empower 2007, the industry's leading conference for global supply management executives and thought leaders, will be held October 8-10, 2007 at the InterContinental Hotel Buckhead in Atlanta. High profile keynotes and world-class supply management practitioners will address globalization's effect on supply management and how companies can optimize supply costs, performance, and risks in the global economy. The conference will provide attendees with a unique educational platform to learn about new solution developments discuss common issues and build mutually profitable relationships. Speakers include executives from salesforce.com, International Association for Contract and Commercial Management (IACCM), National City Corp, Federal Signal, Toyota Financial Services and Purchasing Magazine. For more information or to attend Procuri Empower 2007, please visit www.procuri.com/empower or contact empower@procuri.com.