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BiRite Selects TiberNet IQ Analytical Suite

Tibersoft Corporation, a market-leading provider of Internet-enabled, supply chain software solutions for the foodservice industry, announced that BiRite Foodservice Distributors has purchased the TiberNet IQ analytical suite. TiberNet IQ is a tool used to generate reports, aggregate data on items that do not have common UPC codes, and alert users when purchases exceed set volumes or are made at prices greater than contracted amounts.

"BiRite is distancing itself from the competition by providing detailed information about purchases. This information is especially valuable to chain restaurants who often get rebates based on volume, but have difficulty getting timely, or 100% accurate information," said Dennis Collins, General Manager at BiRite. "The TiberNet Commerce Solution gave us the ability to sell to our customers 24/7 on the Web, with the addition of TiberNet IQ we offer a new level of service to our customers."

Chris Martin, CEO of Tibersoft elaborated, "TiberNet IQ is not only a simple to use reporting tool, it also analyzes purchases real-time to alert you of price changes, and to report on how much you are earning in rebates. IQ has proven itself in production for over a year, and is a powerful tool to analyze the more than $2 billion in transactions that TiberNet products will handle in the next year." The complete Tibersoft Solution now allows Operators to quickly and easily procure, receive, reconcile, pay and analyze purchasing history -- providing measurable return on investment to the Operator through increased procurement efficiency, reduced costs, increased productivity and maximized return on purchasing power.

TiberNet IQ provides access to an Operator's purchasing numbers real-time, as opposed to waiting weeks or months for their Distributors to send them paper reports that require manual processing. Not only are these reports accessible via the Web, they can also be emailed to Manufacturers for verification of purchases and more timely payment of rebates. Accurate reporting on all purchases that qualify for rebates and ensuring that price agreements are honored ultimately reduces the cost of goods sold for Operators.

About BiRite

BiRite Foodservice Distributors is a family-owned business based in Brisbane, California. BiRite employs 265 employees and operates in the independent restaurant, chain operator, military, and school/institutional foodservice segments. It is also the largest independently owned foodservice distributor in the northern California market and is the 34th largest foodservice distributor operating within the United States with 2001 revenue projected to be $150 million. For more information visit www.biritefoodservice.com.

About Tibersoft Corporation

Tibersoft, www.tibersoft.com, is a market leader among providers of Internet-enabled, supply-chain procurement and data mining solutions for the foodservice industry.

Founded in 1996, Tibersoft provides the vision, software, network products and supply chain experience for operators, distributors and manufacturers to compete in today's competitive business environment. Tibersoft's TiberNet suite is the first complete trading network offering the food, paper, and maintenance supply chains everything they need to increase efficiency, reduce costs, enhance service, improve margins, extend brands online and sustain long-term customer relationships.

Tibersoft's customers include Abbott Foods, Glazier Foods Company, Network Services Company, Penn Jersey Paper Company, Robert's Foods Inc, Springfield Foodservice Corporation, SYSCO, Thoms Proestler Company, and UniPro Foodservice Inc. Tibersoft is a privately held company headquartered in Westborough, MA, with venture capital backing from StarVest Partners, Internet Capital Group and others.

Contact John Wall, Director of Marketing of Tibersoft, 508-621-2350, jwall@tibersoft.com.