FreeMarkets, Inc. (Nasdaq:FMKT), the leading B2B eMarketplace, yesterday announced that it has signed an agreement with Nestle Thailand Ltd., a unit of Nestle S.A., the world's largest food company.

Under the terms of the agreement, FreeMarkets will provide access to its B2B eMarketplace, which Nestle Thailand will use to source goods and services for Nestle operations in Asia, Oceania and Africa.

"We are very pleased that Nestle Thailand has selected our B2B eMarketplace as a platform for sourcing goods and services for its operations," said Talley Goodson, vice president and managing director of FreeMarkets' Asia operations. "Nestle is a leading and innovative food company that joins a growing number of Asian companies who are leveraging the power of FreeMarkets' technology, information and services to reduce their costs and sourcing process time and make better sourcing decisions. FreeMarkets has a proven track record of delivering measurable results to its customers around the globe, and we look forward to working with Nestle Thailand to create savings and efficiencies that benefit it operations throughout Asia, Oceania and Africa."

FreeMarkets serves customers in Asia from its offices in Singapore, Hong Kong, Seoul, Tokyo, New Delhi and Melbourne. Among the companies FreeMarkets is currently serving in Asia: Singapore Technologies Engineering, CLP Power Hong Kong Ltd., Mayne Nickless, Carrier Corporation, Emerson Electric and Visteon Corp., and others.

About Nestle

With a total workforce of approximately 230,929 people in some 509 factories worldwide, Nestle is not only Switzerland's largest industrial company, but it is also the World's Largest Food Company. Nestle products are available in nearly every country around the world.

About FreeMarkets

FreeMarkets is the leading B2B eMarketplace. FreeMarkets combines its industry-leading technology platform with unparalleled sourcing information and world-class services to deliver huge savings to customers. FreeMarkets has executed over 6,800 online auctions for more than $10.5 billion worth of goods and services to date, and created estimated savings of nearly $2.0 billion for its customers. The FreeMarkets B2B eMarketplace enables buying organizations to source products from more than 150 supply verticals. More than 7,000 suppliers from over 55 countries have participated in the FreeMarkets B2B eMarketplace. The Company also operates FreeMarkets Asset Exchange, the leading B2B eMarketplace for surplus assets and inventory. FreeMarkets can be found on the Web at FreeMarkets is a registered trademark of FreeMarkets, Inc.

Forward-looking statements

Statements in this press release that are not historical facts, including those statements that refer to FreeMarkets' earnings projections, plans, prospects, expectations, strategies, intentions, and beliefs, are forward-looking statements. These forward-looking statements are based on information available to FreeMarkets today, and FreeMarkets assumes no obligation to update these statements as circumstances change. There are risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including, without limitation, market acceptance of FreeMarkets' B2B eMarketplace and new products and services that FreeMarkets introduces, the competitive nature of the market for business-to-business online auction and e-commerce services, FreeMarkets' ability to attract new customers, through its own efforts and through partnerships and alliances, to retain and increase revenue from existing customers and to attract new customers, FreeMarkets' ability to attract and retain qualified personnel, the size of the market for used equipment and surplus inventory, the demand for online auction and other asset recovery services by buyers and suppliers, and FreeMarkets' ability to integrate acquisitions and manage growth. You should carefully review these and other risk factors that are described in more detail in FreeMarkets' filings with the Securities and Exchange Commission.

Note to Editors: An accent mark should appear over the second "e" in Nestle. The accent mark was removed for transmission purposes.