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Pantellos teams with ProcureZone to help members procure engineered components

THE WOODLANDS, Texas, September 26, 2001 — Pantellos, a supply chain solutions company for the utility and energy services industries, today announced that it has teamed with ProcureZone to launch Pantellos SPECSM (Specification and Procurement of Engineered Components) to help members reduce the cost of acquiring engineered goods, including large capital projects.

“Procurement of engineered goods for all types of projects can present an enormous supply chain challenge for utility and supplier members,” says Graham Collins, CEO of Pantellos. “Pantellos SPEC simplifies the procurement process, which will result in lower costs and faster turnaround times.”

The electric utility industry is a particularly capital-intensive industry, spending approximately $30 billion per year on complex engineered components such as one-of-a-kind transformers, switchgear and motor control centers.

Pantellos SPEC provides members with an extensive online library of standardized specifications and bid analysis tools that can also be customized to suit specific business requirements or project needs.

Pantellos SPEC offers a structured approach to e-procurement by automating the process of acquiring engineered components.

Utilizing ProcureZone’s comprehensive set of Web-based, automated engineering and procurement tools, Pantellos SPEC simplifies and streamlines engineering specification development, inquiry issuance, bid preparation and review, and project communication by eliminating manual paperwork and standardizing project specifications.

“Buyers of complex engineered equipment and materials want to access global suppliers, streamline their procurement processes and gain control of expenditures using standardized documentation and tools,” said Junaid Yasin, founder of ProcureZone. “We are pleased to be working with Pantellos in providing tools to reduce costs and shorten schedules by facilitating collaboration between the buyers and their suppliers, as well as maintaining a central repository of contract documents and data.”

About Pantellos

Pantellos is the supply chain solutions company for the utility and energy services industries. Built by the industry, for the industry, Pantellos offers members access to deep industry and supply chain expertise, a broad suite of supply chain solutions, an active trading community and -edge technologies. Pantellos is based near Houston, Texas, USA.

For more information visit www.pantellos.com.

About ProcureZone

ProcureZone is a global application service provider (ASP) and Internet hub focused on the procurement of engineered equipment, materials and contracted services. Designed by a team of construction industry veterans, ProcureZone provides a comprehensive set of Web-based, automated procurement tools for engineering and construction professionals in the energy, industrial, commercial, infrastructure, and process industry sectors. ProcureZone is based in Hingham, MA with operations in New Jersey, Pennsylvania, Illinois, Texas and Tokyo. Mitsui, an investor in ProcureZone provides marketing and a help desk for Japan. They also provide marketing support in Europe. For more information visit www.procurezone.com.