PALO ALTO, CA., - October 25th, 2001— Noosh, Inc., (www.noosh.com) a leading provider of collaborative e-Business software solutions, today announced that customer procurement transaction volume through the first three quarters of fiscal 2001 grew to $64M from $28M in the similar period in 2000, an increase of 128%.

"During the current downturn, more and more companies are seeking low-risk ways to cut costs and improve their bottom line. Our customers continue to achieve documented spend savings and cycle time reductions with Noosh. And they do it in weeks, not months or years, making Noosh an easy choice for today's procurement savings initiatives," commented Ofer Ben-Shachar, President and CEO of Noosh.

According to the Patricia Seybold Group, "It is worth noting how Noosh is able to exploit its collaborative process management to enhance the procurement function. This happens in at least two ways. First, the collaboration software improves the procurement process enough to encourage and enable buyers to invite multiple bids, which can achieve very significant cost savings. Second, because Noosh manages all the data used in a project, it can capture and archive that data and apply it later for supplier management and other business improvements."

Noosh customers have cut process costs and cycle times in half and have reduced spend by 20%. To obtain a copy of a Noosh customer case study, please see http://www.noosh.com/solutions/literature.asp.

About Noosh, Inc.
Noosh, Inc. (http://www.noosh.com) offers superior cross-enterprise collaboration technology that rapidly cuts the real cost of doing business. Founded in 1998, the company is recognized as a market leader in collaborative process management and procurement of non-catalogue items and currently processes over $100 million in transactions annually. Large corporate organizations and their suppliers use Noosh to manage and procure custom goods and services. Noosh customers include Aetna, Bank of America, General Electric and other leading Fortune 500 enterprises.

Noosh is the trademark and service mark, respectively, of Noosh, Inc. Other trademarks appearing in this release are the property of their holders.