FedBid Reports Record First Quarter

Business Wire, April 22, 2008

VIENNA, Va. -- FedBid, Inc., The Buyer-Driven Online Marketplace(SM) for commodity buys, today announced that the company recorded its strongest first quarter ever, with exponential growth over first quarter 2007. Following a year in which FedBid realized new and expanded business with Army Contracting Agency; Army Medical Department; the Department of Homeland Security's Customs and Border Protection and Federal Emergency Management Agency; U.S. Marshals Service; Bureau of Alcohol, Tobacco, Firearms and Explosives; Food and Drug Administration; Environmental Protection Agency; General Services Administration; and Federal Communications Commission, FedBid began 2008 with additional business commitments and expanded use by Department of Homeland Security's Transportation Security Administration; National Institutes of Health Information Technology Acquisition & Assessment Center; and National Oceanic and Atmospheric Administration.

"FedBid continues to provide consistent and effective results for our customers," said John Lee, FedBid's Senior Vice President of Sales. "Using the FedBid online marketplace, buyers are able to achieve substantial benefits, including increased efficiency, savings, competition, transparency, small business utilization and improved management capability. Particularly now, when federal budgets and acquisition processes are subject to increasing scrutiny, FedBid provides unmatched value and real results for agency buyers."

Use of the FedBid online marketplace by commodity buyers across the public sector and within commercial organizations continues to grow rapidly, as organizations focus on maximizing value in meeting their operational buying needs. During 2008, the company is on track to help more than fifty public sector organizations compete 20,000 commodity and simple service buys worth nearly a billion dollars.

ABOUT: FedBid, Inc.

FedBid, Inc. provides FedBid[R] online procurement services through The Buyer-Driven Online Marketplace(SM) at www.FedBid.com, the leading online marketplace for public sector acquisition of commodities and simple services. To date, procurement professionals at dozens of federal organizations, including GSA, DHS, DoS and DoD, and commercial entities have used FedBid to procure over a billion dollars worth of commodities and simple services from thousands of businesses around the U.S. For more information, visit FedBid online at www.FedBid.com or call (877) 9FEDBID.