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GE Global eXchange Services selected by Walgreens as e-business service provider

GAITHERSBURG, Md.  November 27, 2001  GE Global eXchange Services, a B2B e-commerce provider, today announced that it has been selected by Walgreens, one of the nation's largest drugstore chains, to assist with enabling more than 3,000 suppliers to trade with the company electronically.

E-business transaction services from GE Global eXchange Services (GXS) will help the Deerfield, Illinois-based retailer to reduce costs and improve supply chain productivity. The services will also help Walgreens prepare to participate in the World Wide Retail Exchange, which is designed to facilitate and simplify trading between retailers, suppliers, partners and distributors.

GXS will provide a range of services to Walgreens and its supplier community, with the goal of enabling 100% of Walgreens' suppliers to trade with the company electronically over the Internet or private networks.

"Making sure that our entire supplier community is able to trade with us electronically is one of our primary e-commerce objectives," said Jeff Rein, Exec VP Marketing of Walgreens. "GXS offers a complete set of services to help small and medium sized suppliers transact electronically - even if they have never done so before. Being able to eliminate paper-based transactions will spread cost savings across the entire supply chain and benefit our customers and suppliers alike. For many suppliers, this will be a first step in preparing for an even greater set of tools that will be made available through the World Wide Retail Exchange over the next few years."

"One of the keys to increased supply chain efficiency and cost savings is enabling as much of your supplier community as possible to do electronic transactions," said Steven Scala, Vice President of Marketing for GXS. "We are very pleased that the nation's largest drugstore chain has chosen GXS to help them move toward their goal of a paperless supply chain."