June 2001 - Posts

Tuesday, June 12, 2001 6:55 PM

Point2 And Caterpillar Announce Exclusive License Agreement

Point2 Technologies Inc. and Caterpillar Inc. (NYSE:CAT) today announced an exclusive license agreement to enhance Caterpillar's used construction equipment site CatUsed.com. Point2 is the developer of Internet-based software that powers the heavy equipment industry site Point2 Exchange (www.Point2.com). Caterpillar is the world's largest manufacturer of construction and mining equipment. This new agreement allows Caterpillar and its dealers to take advantage of powerful online sales and marketing tools developed by Point2.

"Point2's system complements our world-wide dealer-to-dealer used equipment trading system. Integration of Caterpillar and Point2 technologies will provide our dealers a truly world-class system to offer CAT used equipment to the broad marketplace," says Paul Knollmaier, President of Caterpillar Redistribution Services Inc.

"We are excited to have the opportunity to provide Caterpillar with technology that will integrate into their business systems to provide their dealer network with the very latest Internet-based sales and marketing tools," says Wendell Willick, CEO of Point2 Technologies Inc. "Our new relationship with Caterpillar will contribute to our aggressive research and development of Internet software technology. This new technology automates critical e-business processes resulting in improved sales methods, faster response to customers and rapid exposure of inventories to global markets."

About Point2

Founded in 1996, Point2 Technologies develops software technology that enables participants in capital goods industries such as heavy equipment to easily and more profitably conduct business on the Internet. Point2's heavy equipment exchange has quickly become a leading heavy equipment marketplace on the Internet. Point2 was recently named the No. 1 e-business in Canada by a Bain and Company study sponsored by Canada's national newspaper, The Globe and Mail. Point2 designs proprietary, patent-pending Internet software for heavy equipment manufacturers such as Caterpillar. More than 75 global heavy equipment companies at more than 370 branch locations across North America and Europe rely on Point2 software to power their e-businesses.

About Caterpillar

Headquartered in Peoria, Ill., Caterpillar Inc. is the world's largest manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. Caterpillar's broad product line ranges from the company's new line of compact construction equipment to hydraulic excavators, backhoe loaders, track-type tractors, forest products, off-highway trucks, ag tractors, diesel and natural gas engines and industrial gas turbines. These products are sold in nearly 200 countries. A Fortune 100 company, Caterpillar posted 2000 sales and revenues of $20.18 billion.

CONTACT: For further information: Wendell Willick, Chief Executive Officer, (306) 955-1855

News release via Canada NewsWire, Calgary 403-269-7605

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