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News of  September 12, 2000

General Motors Inaugurates GM Tradexchange in Europe 

GM Europe Starts "B2B" On-Line Transactions With Suppliers  

Zurich - The General Motors TradeXchange - General Motors' global on-line e-marketplace - commenced its activity in Europe, conducting electronic transactions on the Internet between Opel Portugal and some of the suppliers of the Company's plant in Azambuja.  

GM TradeXchange is a virtual Internet community for GM, its suppliers and other businesses, allowing them to perform business transactions with greater speed and efficiency. The inauguration of the GM TradeXchange in Europe involved order and purchase transactions for indirect materials between Opel Portugal and an international supplier (Siemens AG) and also a local supplier (Papelaria Fernandes).  

The immediate reduction in processing costs associated with these particular transactions is estimated at approximately 20 percent. The implementation of the GM TradeXchange will be expanded across GM's network of operations in Europe. By the end of 2000, GM's 100 largest suppliers in Europe will already be performing transactions on the Internet.  

General Motors plans to fully integrate the functionality and experience gained from the GM TradeXchange into Covisint, the business-to-business integrated supplier exchange announced by General Motors Corporation, Ford Motor Company and DaimlerChrysler in February. Upon regulatory approval, this venture will create the world's largest virtual marketplace and will offer open participation to all auto manufacturers around the world and their respective market of suppliers, partners and dealers. Eventually, this marketplace could be expanded to encompass other industries. 

(September 7, 2000)

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