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UPSIDE Magazine Names ICG Commerce Among 2002 Hot 100 Private Companies

Coveted UPSIDE Hot 100 Award Recognizes Innovation, Leadership and Performance

PHILADELPHIA, May 29 /PRNewswire/ -- UPSIDE Magazine announced last week that ICG Commerce has been selected to receive the 2002 Hot 100 Award, UPSIDE`s annual award recognizing excellence and innovation among the hottest technology industry companies. UPSIDE will publish the Hot 100 Award winners in its June 2002 issue and will unveil the winners online at UPSIDE.com.

The 2002 UPSIDE Hot 100 were selected by a team of UPSIDE editors, venture capitalists, financial analysts, market researchers and other industry luminaries who evaluated more than 400 nominations. The UPSIDE Hot 100 Award is judged on a company`s technological achievements, customer acceptance of products or services, financial performance, industry partnerships, financial backing, management savvy and marketing.

As a leading Procurement Services Provider, ICG Commerce has grown to become a major force by offering best-in-class tools and technology combined with deep sourcing expertise. ICG Commerce helps its customers achieve significant total cost savings on purchased goods and services by providing solutions to address each step of the procurement process. From assessing and identifying savings opportunities to connecting and enabling buyers and suppliers to managing ongoing supplier performance and change management, ICG Commerce provides the solutions that drive optimal results. ICG Commerce has delivered an average savings of 5-15 percent for its more than 150 customers while propelling the company to record growth in 2001.

"We evaluated hundreds of great companies that spanned a broad range of technology market segments, and we are pleased to recognize ICG Commerce as one of this year`s winners," said Jerry Borrell, editor-in-chief of UPSIDE Magazine. "Over the seven years of its existence, this award has consistently recognized companies that have become the hallmark of excellence in technology, achieving successful IPOs, or merging with other companies. We expect big things from this year`s winners and look forward to following ICG Commerce`s success."

During the early part of 2002, ICG Commerce has continued its strong momentum by bringing additional customers on board, expanding relationships with several existing customers and enhancing its offering to deliver an even greater realization of savings.

"We are pleased to be included among this year`s Hot 100," said Bill Toler, president of North American Operations for ICG Commerce. "Like UPSIDE, we measure our own success with similar criteria in that we continuously search for ways to provide the highest standards of excellence in service and technology that deliver significant, measurable value to our customers. We view these as keys to our continued success going forward." About ICG Commerce, Inc.

ICG Commerce ( www.icgcommerce.com ) is the leading Procurement Services Provider for Global 1000 companies. Leveraging its wealth of purchasing and sourcing expertise and flexible technology, ICG Commerce delivers tailored services for the procurement of direct and indirect goods and services. The company is uniquely positioned to deliver substantial total cost procurement savings. ICG Commerce Inc., a privately held company founded in 1992, is a member of Internet Capital Group`s (Nasdaq: ICGE) network of partner companies.

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