BIDBRIDGE COMPLETES REBRANDING FOLLOWING ACQUISITION; EXPANDS IN NEW MARKETS

FOR IMMEDIATE RELEASE:
Wednesday, October 3, 2007

Louisville, KY — BidBridge has announced that it has completed its rebranding effort following an acquisition in early 2007 by RQSI, a Louisville, Kentucky based investment company. Under a new management team, led by President Clay Masters, a relationship-driven business model and new corporate name have been adopted by the company. As part of an aggressive growth strategy, BidBridge is quickly expanding into new markets throughout the United States while continuing to provide focused delivery of e-procurement services and support to its existing customer base.

Originally founded in 1999 as Asset Management Technologies (AMT), BidBridge offers its e-procurement services to both the public and private sectors and allow its buyers to better source and purchase services, commodities, and other capital expenditure items. Through an online procurement platform, BidBridge has facilitated Electronic Sealed Bid (ESB) reverse auctions for over 230 public and private sector organizations, allowing suppliers to bid on items through what is known as a reverse auction process.

"We have been very pleased at the response that we've received from our suppliers using the BidBridge reverse auction process," said Craig Bowen, Director of Louisville/Jefferson County Metro Purchasing. "In many cases, the BidBridge team has helped us identify additional suppliers which have allowed us to ensure an equal opportunity and level playing field for our supplier partners."

BidBridge also hosts an online bid request and procurement tool known as EZBid. EZBid was developed to assist buyers in their purchases of services, contracts and goods that fall outside the scope of a reverse auction. Registered suppliers obtain bid requests and all bid documents through the BidBridge web-site and are able to place a single sealed bid through a secure, web-based environment. Buyers realize the same efficiencies and benefits e-governance provides, thereby minimizing costs directly allocated to the complex bidding process.

As BidBridge looks at new markets and relationships, this service-oriented approach that the company uses sets it apart. "BidBridge's strategic sourcing, web-based procurement process and relationship-driven approach has already allowed our public and private sector partners to save millions of taxpayer and investor dollars," said Clay Masters, President of BidBridge. "BidBridge's overarching goal is to help the cities, municipalities, school districts, universities and hospitals that we work with have the opportunity to purchase their goods and services as close to true market value as possible — ultimately maximizing a community, corporation or organization's dollar."

BidBridge has worked with buyers and suppliers throughout the Southeast and Midwest regions, including clients in Kentucky, Ohio, Indiana, Georgia, Oklahoma, Arkansas and North Carolina. The company is also building on existing relationships with buyers and suppliers and is launching an aggressive expansion program in additional states including Colorado, California, Utah, Oregon, Wisconsin, Mississippi and Florida.

BidBridge's growth plans include further penetration in key regions including the Midwest, Southeast and on the West Coast. "In just the last six months, we have created numerous new relationships with cities, towns, school districts, police departments, hospitals, banks and other public and private sector entities across the country. BidBridge is bringing tremendous savings to their bottom line," said Masters.

More than an online procurement service, BidBridge acts as a consultant from start to finish with each of its clients. Through strategic sourcing of new and potentially unknown suppliers, real-time bid result tracking and reporting, complete audit trails, disaster recovery and documentation backup systems, and automated instant bid tabulation, BidBridge's clients are realizing both tangible and intangible savings.

"The ease of the process was surprising," said Serena Kauk, Finance Director for the City of Claremore, Oklahoma. "The city ended up saving more than 10% on 3 pieces of equipment and more than 25% on one piece compared to previous bids from suppliers."

Because BidBridge manages its auctions in a web-based environment, the process is also paperless and environmentally-friendly. Once suppliers are sourced by BidBridge and approved by the buyer, BidBridge establishes a secure online portal where buyers and suppliers can view the live auction. Immediately following the auction, BidBridge emails the complete results to the buyer for final decision on award. Thus, an increased dollar savings in tangible costs and time savings in copy and distribution contribute to the increasing trend among local, state, and federal governments to implement e-governance technologies.

Additional information about BidBridge may be obtained by visiting www.bidbridge.com or by calling 502-491-1980 or toll free 1-877-245-8880.