ICG Commerce Appoints Two Recognized Leaders to Top Executive Positions

Former SEI Executive Carl Guarino Named CEO, Michael Zisman Named Chairman of the Board

PHILADELPHIA - Monday, September 18, 2006 - ICG Commerce, a leading procurement services  
provider, today announced the appointment of Carl Guarino as Chief Executive Officer. Guarino will 
lead ICG Commerce in its mission to help forward-thinking companies increase control over their 
spending, enhancing their capacity to reduce costs and add value to their enterprises.  The 
company also announced that Dr. Michael Zisman will assume the role of Chairman of the Board.
  
“Joining a market leader that is solely committed to enabling leading companies to maximize the 
value and impact of their procurement efforts is a very exciting opportunity,” said Guarino.  “By 
bringing together a unique combination of sourcing expertise and an operational infrastructure, no 
company is better positioned to help customers reduce costs and increase competitiveness.” 

Guarino brings extensive experience in guiding the strategic development and growth of 
companies into global enterprises. Prior to joining ICG Commerce, he was Executive Vice 
President with SEI Investments, a leading global provider of outsourced asset management, 
investment processing and investment operations solutions. During his 18-year tenure, he 
significantly expanded the company’s asset management division and led the organization’s 
entrée into global markets, driving significant growth through joint ventures and acquisitions. His 
experience also encompasses the management of successful outsourcing relationships and 
optimization of operational businesses. 

Zisman was elected Chairman of the Board after serving on the ICG Commerce board since 
2004. His extensive knowledge of and experience in successful enterprise expansion and 
development is based in both corporate and entrepreneurial experience.  Zisman served as Vice 
President Corporate Strategy at IBM, as well as CEO of Lotus Development Corporation and 
Founder of Soft-Switch, which was acquired by Lotus in 1994.  Most recently, he launched 
Wayne Strategy Consultants, working closely with Internet Capital Group in the capacity of 
managing director and board member.

“We are very excited to welcome Carl to ICG Commerce and to have Mike more involved in his 
new role as Chairman,” said Walter Buckley, CEO of Internet Capital Group, a primary investor in 
ICG Commerce.  “They are both seasoned executives and proven business leaders whose depth 
and breadth of experience with corporate strategy and globalization within the outsourced 
services industry will help ICG Commerce and its customers reach new levels of success.”

About ICG Commerce, Inc.
 
ICG Commerce is the leading procurement outsourcing specialist delivering comprehensive source-to-pay 
services. Results-driven leaders access ICG Commerce’s experienced resources and market intelligence to 
better manage procurement and logistics spend, gaining significant savings and enhanced visibility and control. 

ICG Commerce is a privately held company founded in 1992 and a member of Internet Capital Group's 
(Nasdaq: ICGE) network of partner companies.  The company has earned recognition from Forbes, Fortune, 
The International Association of Outsourcing Professionals (IAOP) and leading industry analysts for its 
leadership in procurement outsourcing. For more information: www.icgcommerce.com

About Internet Capital Group 

Internet Capital Group (http://www.internetcapital.com ) owns and builds Internet software 
companies that drive business productivity and reduce transaction costs between firms. Founded 
in 1996, ICG devotes its expertise and capital to maximizing the success of these platform 
companies that are delivering on-demand software and service applications to customers 
worldwide.