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Exhibit 99.1
NECX.COM COMPLETES ACQUISITION OF AMERICAN IC EXCHANGE
Peabody, MA - July 13, 2000 -- NECX.com LLC, a wholly owned subsidiary of
VerticalNet, Inc. (Nasdaq: VERT), and one of the world's leading electronics
industry marketplaces, today announced that it completed the previously
announced acquisition of American IC Exchange ("AICE"), a privately held
electronics exchange based in Aliso Viejo, CA.
ABOUT AMERICAN IC EXCHANGE
American IC Exchange, LLC (which recently changed its name to F & G Capital,
Inc.) (www.aice.com), is a global electronics market maker specializing in the
trade of commodity semiconductors, such as DRAMs, flash memory and CPUs. In
1999, AICE transacted business with over 1,000 unique business partners. AICE
launched RAMDEX(TM), its online market index, in 1996 to give the original and
contract equipment manufacturing communities an efficient tool to remove the
guesswork from buying and selling on the global spot market. Today, AICE's
website is acknowledged as a leading content provider for semiconductor market
information and provides users with a variety of services, including order
tracking, customized product portfolios and open market pricing information.
ABOUT NECX.COM LLC
NECX.com (www.necx.com), a wholly owned subsidiary of VerticalNet, Inc.,
operates the Global Electronics Exchange, a leading global business-to-business
exchange for electronics hardware. NECX.com provides a high degree of market
liquidity by aggregating supply and demand from thousands of component, original
equipment and contract manufacturers, as well as from distributors and
resellers. The Exchange also provides comprehensive services such as procurement
and inventory management, trading, financial settlement, global logistics and
quality assurance. NECX.com, headquartered in Peabody, Massachusetts, operates
its Asian-Pacific business from Singapore and its European operations from
Galway, Ireland and Stockholm, Sweden.
ABOUT VERTICALNET, INC.
VerticalNet, Inc. (www.verticalnet.com) owns and operates 56 industry-specific
Web sites designed as online business-to-business communities, known as vertical
trade communities. These vertical trade communities provide users with
comprehensive sources of information, interaction and e-commerce. They are
grouped into the following industry sectors: communications, energy,
environment/utilities, financial service, food/packaging,
foodservice/hospitality, healthcare, high tech, industrial,
manufacturing/discrete, manufacturing/process, public sector, science and
services.
Additionally, VerticalNet provides auctions, catalogs, bookstores, career
centers and other e-commerce capabilities horizontally across its communities
with sites like Industry Deals.com, LabX.com and Professional Store.com.
VerticalNet's NECX(R) Exchange provides an exchange for the electronic
components industry. Through Tradeum technology and strategic alliances,
VerticalNet is focused on providing comprehensive end-to-end e-commerce
solutions.
VerticalNet and NECX are registered trademarks and/or trademarks of Vert Tech
LLC in the United States and/or other countries.
