ICG Commerce Raises $117 million in Private Funding

Total E-Procurement Services Provider Secures Second Round in Tight Capital Market

PHILADELPHIA - Monday, August 28, 2000 - ICG Commerce, a comprehensive e-procurement services provider, today 
announced that it has raised approximately $117 million in a private placement financing from a group of investors led 
by Internet Capital Group (NASDAQ: ICGE). Other investors include: Staples, Inc. (NASDAQ: SPLS), Unisys Corporation 
(NYSE: UIS), Keppel Corporation Limited (SGX: Keppel Corp), SMM Five, Graham Partners, Invest, Inc., and Koch Ventures, 
Inc. ICG Commerce will utilize these funds to accelerate customer acquisition, enhance its total bundle of goods and 
services that it delivers to customers and suppliers and continue global expansion. 


"The significant funds raised in this round of financing will help us further establish ICG Commerce as the leading e-
procurement services provider worldwide," said Rick Berry, president and CEO of ICG Commerce. "We will use these 
resources to continue to build our cutting-edge technology, sourcing expertise and comprehensive value-added 
offerings for both buyers and suppliers." 


The ICG Commerce procurement solution delivers real savings to companies by lowering the hard unit costs of the 
goods and services that they purchase as well as the transaction costs associated with making these purchases. The 
savings that accrue to customers are derived from favorable pricing based on the aggregation of spend across the ICG 
Commerce global customer base, dedicated sourcing and supply chain expertise and a flexible Internet-based 
technology which streamlines and automates all transactions. ICG Commerce can effect the complete range of 
procurement strategies for its customers, including online catalogs, spot-buys, eRFPs/eRFQs, and auction services 
through RealAuctionsm, its fully integrated online system that allows ICG Commerce customers and suppliers to 
participate in real-time, interactive, online auctions. 


All of these ICG Commerce Internet-enabled services are supported by a technology platform that requires no hardware 
or software implementation, enabling many companies that were previously bound by high software costs to acquire e-
procurement capabilities with minimal upfront capital investment. An article by Pierre Mitchell published in The AMR 
Research Alert on Enterprise Technology Strategies, August 2, 2000, affirms this approach. The author states, "With its 
low up-front investment pricing model, ICG Commerce is ushering in the rapid demise of enterprise license fees in 
return for liquidity." 


"We strongly feel that there is enormous growth potential for ICG Commerce," said Walter Buckley, co-founder, 
president and CEO of Internet Capital Group. "We believe ICG Commerce will emerge as the leader in e-procurement 
based on its unique blend of services and technology. They are creating a new standard for the way companies conduct 
online purchasing, and the marketplace is responding very positively." 


Current ICG Commerce customers include Sunoco, Unisys, Eastman Chemical, and Staples, as well as many middle 
market firms across a wide variety of industries. Steve Graham, managing principal of Graham Partners, a major 
investor in this round of financing, said, "ICG Commerce can provide our portfolio companies immediate access to an 
e-procurement platform that will result in an immediate reduction in our hard and soft dollar supply chain costs. As 
both an investor and an operator, this is a powerful combination. These benefits provide firms like ours with a great 
opportunity to make an intelligent investment while adding value to our portfolio companies." 


About ICG Commerce
ICG Commerce is the world's first comprehensive online procurement service provider for businesses, unmatched in 
supply-chain management, purchasing and strategic sourcing for any industry. The company delivers to customers 
complete, tailored services built around a flexible, Internet-based platform that requires minimal start-up cost and time 
and no software purchase or installation. ICG Commerce can effect the entire spectrum of purchasing strategies, 
including aggregated buys, portals and exchanges, hosted auctions, eRFQs/eRFPs, spot buys and catalog purchases. As 
such, the company is uniquely positioned to help customers streamline all of their procurement decisions and processes 
and to effect substantial savings and efficiencies. ICG Commerce is a member of the Internet Capital Group 
(NASDAQ: ICGE) network of partner companies, and is based in Jenkintown, PA. For more information, access the 
company's Web site at www.icgcommerce.com. 


Contacts: 

Karen Wilcox
For ICG Commerce
(404) 880-5292
karen_wilcox@cohnwolfe.com