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13 October 2008 |
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For Immediate Release Scient Builds Groundbreaking Steel Exchange In Asia SINGAPORE, September 21, 2000 - Scient (NASDAQ: SCNT), The eBusiness Systems Innovator, today announced its role in the launch of iSteelAsia's second-generation platform. iSteelAsia is a leading eBusiness that delivers full-service online trading and fulfillment capabilities targeted at the USD300 billion steel market in Asia. With this enhanced platform, iSteelAsia's eBusiness is aimed at revolutionizing how steel mills, traders, distributors, service centers and end-users negotiate and fulfill complex steel transactions. In addition, this platform is considered to be on the cutting edge of online business as one of the first exchanges built on an open source operating platform with multi-lingual capabilities. "Scient is delighted to be part of the launch of iSteelAsia's second-generation platform. We believe this platform is truly at the forefront of technological complexity and innovation. We are proud to have built the new system and to have assisted iSteelAsia evolve their business. While most exchanges handle two to three parameters in the negotiation process, the enhanced platform Scient built for iSteelAsia handles over twenty. The open platform system which is supported by its multilingual and multi-currency functions is also one of the first to be launched worldwide," said Mr Ed Nazarko, Vice President, Asia, Scient. "Scient brings a way of thinking that challenges its clients to push their boundaries, and find different ways to bring value to customers. In tandem, Scient also has the in-house technical capability to build and deliver the eBusiness systems based on that strategy. We are proud to work with Scient, the world's leading eBusiness Systems Innovator," commented Mr Andrew Yao, Chairman and CEO of iSteelAsia. iSteelAsia is one of the first listed B2B steel trading exchanges worldwide. The Hong Kong-based company was launched in December 1999 with 12 leading steel enterprises as founding members. Listed on the Hong Kong Stock Exchange's GEM board in April 2000, iSteelAsia enables online steel trading, through not only matching sellers and buyers together, but also facilitating many transactional requirements such as trade financing, logistics, insurance, inspection as well as industry information and content. To date, iSteelAsia has over 2,600 registered members using its online steel trading services and accessing online Reuters and Asia Information Resources News. "The new platform provides a powerful tool for steel industry players to efficiently manage their steel trading portfolios and conduct multiple one-to-one negotiations online. We believe this platform provides a highly value added tool, addressing many of the inefficiencies that exist in the industry today," commented Nazarko. "Scient's delivery of iSteelAsia's new platform illustrates our ability to build eBusinesses on a global basis. Scient draws upon its best global resources for each client engagement, and iSteelAsia worked with a Scient global team with colleagues from Asia, United States and Europe," he added. About
Scient ®: The eBusiness Systems Innovator
Headquartered in San Francisco with offices in New York, Dallas, Austin, Boston, Chicago, Los Angeles, New Jersey, Silicon Valley, London, Munich, Paris and Singapore. Scient can be reached at www.scient.com or 65/331-0730. "Safe Harbor"
Statement under the Private Securities Litigation Reform Act of 1995
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