SOURCE: buySAFE

June 21, 2005 08:30 ET

buySAFE, Inc. Adds Three to Board of Directors

Leaders in Finance, Marketing and Technology Help Expand e-Commerce and Auction Bonding Service

ARLINGTON, VA -- (MARKET WIRE) -- June 21, 2005 -- buySAFE, Inc. (www.buysafe.com), the world's leading e-commerce and auction bonding service, announced today that it has added Patrick Gross, founder of American Management Systems (AMS); Scott Kraft, CEO of Kraft Consultants; and Andrew Parsons, chairman of Gulliver Growth Partners, LLC, to its Board of Directors.

"As we enter the next phase of buySAFE's development, we look forward to benefiting from the expertise and industry contacts our new board members bring to the table," said Jeff Grass, CEO, buySAFE. "Our Bonded Shopping™ model is increasingly being adopted by online merchants, and as buySAFE continues to grow and expand into other Internet marketplaces, we anticipate the board to play an integral part in the company's success."

Mr. Gross' extensive management experience comes principally with American Management Systems, Inc., which he co-founded in 1970 with four other colleagues and served as principal executive officer. Over three decades, they built AMS into a $1 billion IT services enterprise with more than 7,000 professionals throughout North America and Europe. He serves on three public company boards: Capital One Financial Corporation, Computer Network Technology Corporation, and Mobius Management Systems, Inc. He is also a director and advisor to a number of private companies, including the Sarnoff Corporation and Liquidity Services, Inc. He is active in a number of public policy and community service leadership roles, including vice chairman of the Council for Excellence in Government, chairman of the Committee for Economic Development Research and Policy Committee, and chairman of the World Affairs Council of Washington, D.C.

Mr. Kraft is an award-winning expert in branding and marketing. Over the past twenty years, he has developed ground-breaking strategies and marketing campaigns for many of the world's leading brands. Currently, he is CEO of Kraft Consultants, where he helps clients optimize their marketing investments and create lasting business value. Before this, Mr. Kraft was Vice President, Global Head of Branding and Advertising at Sun Microsystems, where he re-ignited the Java brand, turning it into a global power brand that is now found on virtually every mobile phone shipped. He also held executive roles at several companies that were key to the Internet and interactive revolution, including Executive Vice President of Interpublic agency NicholsonNY (now IconMedia), CEO of Gadfly Inc. and Managing Partner of Sterling Group.

Mr. Parsons is Director Emeritus of McKinsey and Company, Inc., a leading international management consulting firm, and Chairman of Gulliver Growth Partners, LLC, an investment and advisory firm. He is a board member of several public and private companies with a marketing and Internet focus. Formerly, he was chairman of the Kantar Group of WPP PLC, one of the world's leading communications services groups. Mr. Parsons spent 25 years at McKinsey and Company, where he served as a director and senior partner. While there, he founded the e-Marketing initiative, and at various times led the North American Consumer practice and the Global Marketing practice. Prior to joining McKinsey, Mr. Parsons was vice president of marketing for the Prestige Division of American Home Products.

ABOUT buySAFE

buySAFE, Inc. helps to create a safe and stress-free online shopping environment through Bonded Shopping™ -- the only program that qualifies merchants, identifies reputable online businesses with the buySAFE Seal, and uses surety bonds to provide protection for individual buyers from online transaction risks. buySAFE also benefits online merchants by signaling they are a reputable and trustworthy seller, thereby increasing profit opportunities. Items currently bonded with buySAFE can be found at buysafeshopping.com. buySAFE is headquartered in Arlington, Virginia, and more information can be found at www.buysafe.com.

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