Small Biz Exchange Eliminates 85 Staffers

Onvia Improves Efficiency, Eliminates Redundant Positions

September 29, 2000

SEATTLE-- BUSINESS WIRE -- September 28, 2000 Small business exchange facilitator Onvia.com eliminated 85 redundant staff positions yesterday. The move came as part of its plan to improve business performance in the near term and bolster third quarter results.

"Despite the fact that we have 180 million of cash in the bank, today's competitive environment demands that we operate our business at maximum efficiency," said Glenn Ballman, Chairman and CEO of Onvia.

"We continue to gain momentum and improve our operating efficiency," said Ballman. "This reduction in our workforce coupled with our emerging revenue opportunities will reinforce our position as the leading exchange for small businesses. We look forward to announcing our third quarter results."

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