SOURCE: ICG Commerce

October 16, 2006 10:00 ET

ICG Commerce Announces Procurement Services Program for Global Crossing

Initiative to Drive Savings Throughout North America, Latin America and Europe

PHILADELPHIA, PA -- (MARKET WIRE) -- October 16, 2006 -- ICG Commerce, a leading procurement services provider, today announced a strategic engagement to provide procurement services to leading global telecommunications solutions provider Global Crossing (NASDAQ: GLBC).

Global Crossing has continued to achieve key milestones in its business transformation through careful financial management, including a company-wide focus on achieving sustainable cost reductions and process improvements. The company recognized the opportunity to improve financial performance by expanding its procurement efforts and capabilities. In support of this effort, ICG Commerce was engaged to provide strategic sourcing and implementation services for key global product and service categories. Global Crossing will leverage ICG Commerce's dedicated category and process specialists to help maximize procurement cost savings for operations in North America, Latin America and Europe.

"By harnessing ICG Commerce's resources and experience, Global Crossing will be positioned to address procurement in an accelerated timeframe," said David Showerman, Vice President, Real Estate and Vendor Management for Global Crossing. "We are confident ICG Commerce's experience and supply market knowledge will assist us in achieving our savings targets."

The addition of ICG Commerce's sourcing and implementation services to Global Crossing's procurement organization will provide access to deep category specialists, supply market and pricing insights and proven supplier implementation methodologies for key categories including IT, telecommunications, marketing, air travel and hotels, personnel recruiting, training and others.

"We are very pleased to be part of Global Crossing's ongoing business improvement strategy," said Carl Guarino, CEO of ICG Commerce. "We look forward to partnering with their procurement team to help them to drive continued savings and maximize the value of their spend in support of the company's growth and profitability goals."

About ICG Commerce

ICG Commerce (www.icgcommerce.com) is a leading Procurement Services Provider exclusively focused on helping companies achieve greater control and increased value from the spend they manage. The company offers sourcing and ongoing operational buying, category and information management and market intelligence services that enable companies to expand the breadth of spend they manage, continue to build their sourcing effectiveness, ensure compliance and drive continual improvements over time. By working with thousands of top suppliers and dozens of leading procurement organizations, ICG Commerce brings its execution-based, compound experience to every customer contract negotiated and transaction processed.

ICG Commerce Inc., a privately held company founded in 1992, is a member of Internet Capital Group's (NASDAQ: ICGE) network of partner companies. The company has been recognized with numerous industry awards including IAOP and Fortune Magazine's Global Outsourcing 100, Forbes "Best of" (for Outsourcing and Procurement) and has had multiple executives recognized in Supply & Demand Chain Executive magazine's annual "Pros to Know" listing.

Contact Information

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