Press Release

neoIT Licenses Technology for B2B Services Marketplaces

neoIT's Proprietary Technology to Power Four Services Marketplaces at Leading Portals and Associations

SAN RAMON, CA - Aug. 30, 2001 -- neoIT today announced the licensing of its MarketMaker technology to three leading portals and a premier technology association. CyberIndia Online (CIOL), GlobalOutsourcing.org, Net Exhibitors (HITDecisions.com), and the Software & Information Industry Association (SIIA) will use neoIT's MarketMaker technology to power their services marketplaces -- enabling their users to automate the outsourcing of technology, business and consulting services. Armed with a suite of web-native sourcing, procurement and project collaboration modules, users streamline the services value chain and minimize the cost and risk associated with outsourcing complex services.

"Even during an economic downturn, customers demand new, better and more innovative technology products. Technology executives are no strangers to outsourcing, but 80% of Fortune 1000 organizations lack a formal procurement process for technology services" Eugene Kublanov, Vice President -- Business Development, neoIT commented. "From RFP to services delivery, neoIT's end-to-end technology solutions deliver true value to our customers at every phase of the outsourcing process."

"At HITdecisions.com, we are creating the Web's primary resource for healthcare information and technology products and services. The addition of neoIT provides our site visitors with a superior tool for the selection and management of outsourced IT solutions," said Net Exhibitors cofounder Julie Hopkins.

"Many of our members are providers or users of technology solutions. By offering neoIT's MarketMaker technology to our members we are providing them with a powerful marketing and procurement tool to reach a global market" commented Lauren Hall, Vice President at SIIA. "Now, when a member company inquires about a specific IT solution, we can point them to our co-branded services marketplace."

"Effective sourcing and procurement of IT professional services continues to be a major challenge for Global 2000 companies. Utilizing technology solutions that enhance sourcing, procurement, management and offer access to global service providers benefit both buyer and service provider organizations." Comments Ted Kempf, principal analyst at Gartner Dataquest.

About neoIT

Headquartered in San Ramon, Calif., neoIT is the leading global provider of services value chain management technology. Leading companies use neoIT's proprietary technology, enterprise software, global IT marketplace and consulting services to streamline the sourcing, procurement, management and delivery of services projects -- resulting in on-time delivery, reduced costs, and increased speed to market. neoIT's clients include Fortune 100 companies and technology leaders such as Cardinal Health, Pyxis Corporation, Proctor & Gamble, General Motors, KPMG Consulting, Cap Gemini Ernst & Young, Perot Systems, Tata Consultancy Services, Arthur Andersen, JournalTek and Shipserv. For more information, visit http://www.neoit.com.

About Cyber India Online

CIOL is India's first IT portal, established in 1996. With over three and half million page views a month, the e-mail newsletter CyberTimes and highly interactive chat rooms, CIOL is the nucleus for some of the most popular Web sites in India. CIOL is headquartered in Bangalore, India's Silicon capital. CIOL combines a high level of expertise in technology and programming, with a passion for groundbreaking design and dynamic content. CIOL belongs to the Cyber Media Group - a company whose businesses include publishing; multimedia; production of TV programs; organizing seminars and exhibitions; market research and consultancy. For more information visit http://www.ciol.com.

About Globaloutsourcing.org

Launched in March 2001, Globaloutsourcing is a platform that aims to be the reference point for service providers in generating leads and business and help the buyers of these services in simplifying outsourcing decision-making. Globaloutsourcing is headquartered in Gurgaon, Haryana. Global outsourcing is a subsidiary of Cyber Media Group - a company whose business range spans magazine and newspaper publishing; multimedia publishing; production of TV programs; organizing seminars and exhibitions; market research and consultancy. For more information visit http://www.globaloutsourcing.org.

About Net Exhibitors

Net Exhibitors combines the power of several potent marketing forces: the World Wide Web, and the excitement and opportunities found at professional tradeshows. At our Marketplaces, Online Tradeshows and Digital Displays, sellers engage three critical marketing elements: visibility, customer education and rapid customer response -- at a cost that is affordable for any size company. We create exciting marketing and selling opportunities for companies that target niche professional and technical sectors by linking buyers and sellers on-site and online. With HITdecisions.com, Net Exhibitors is producing the first full-service Internet site designed for all healthcare information and technology buyers and sellers. (http://www.netexhibitors.com, http://www.hitdecisions.com)

About SIIA

The Software & Information Industry Association (SIIA) is the principal trade association of the software code and information content industries. SIIA represents more than 1,000 leading high-tech companies that develop and market software and electronic content for business, education, consumers and the Internet. For more information, visit http://www.siia.net.

Media Contact:

Eugene M. Kublanov
neoIT
VP, Business Development
San Ramon, CA USA
+1 925.355.0557
eugene@neoIT.com