Global Food Exchange, the leading web-based solution pioneering complete supply chain integration for the perishable food industry, and the National Fisheries Institute (NFI) today announced an exclusive partnership designed to link both organizations strategically and operationally. The NFI, a non-profit trade association of 800 companies involved in all aspects of the U.S. fish and seafood industry, represents more than 75 percent of the seafood volume sold in the United States.

Under the new partnership, Global Food Exchange will provide a wide array of online services to all of NFI's participating seafood companies, large and small, completely streamlining and enhancing the way business is conducted as the industry moves into the digital age. Today, companies in the seafood industry require a series of manual paper intensive processes along their supply chains. Global Food Exchange will now provide these companies seamless solutions from order management through payment mechanisms.

"NFI's Executive Committee decided unanimously to partner with Global Food Exchange since we believe it can best help us provide leadership to our members who are looking for an e-commerce solution to grow their business," said Richard Gutting, president of NFI. "The management team at Global Food Exchange understands our industry and will provide a highly secure e-commerce solution that serves our members' businesses now and in the future."

Under the terms of the agreement, NFI and Global Food Exchange will integrate their efforts to build and promote an e-commerce solution tailored to the seafood industry. To this end, NFI will provide proprietary, in-depth industry information, including regulatory and editorial content, to Global Food Exchange. The organization will also commit to moving the Global Food Exchange model forward by securing users from its membership base.

To ensure close communication, Global Food Exchange will participate in NFI's E-commerce committee, while an NFI representative will hold a position on Global Food Exchange's Industry Advisory Board. The E-commerce committee, made up of both buyers and sellers of seafood, will help educate the industry as well as provide valuable input to Global Food Exchange on design, functionality and usability.

"This partnership is a strong endorsement of our business model and a significant step in helping Global Food Exchange meet the needs of the seafood industry," said Mark Moore, co-founder and president of Global Food Exchange. "NFI's unparalleled influence within the seafood industry provides us an opportunity to build the strongest network of seafood companies which grocery and foodservice companies can access."

NFI began its rigorous search to find an e-commerce partner in April 2000. The organization looked for a partner that could ensure NFI's neutrality and enhance the success of NFI members, among other criteria. While more than ten companies submitted written proposals, only four finalists were invited to present proposals in front of the board. NFI unanimously chose Global Food Exchange based on factors such as the company's business plan, management objectives and philosophy, financial backing, managerial and technical strengths and its strategic partners.

The announcement of the partnership with NFI comes on the heels of Global Food Exchange's acquisition of the largest seafood auction house in North America, Gloucester Seafood Display Auction. Through this acquisition, Global Food Exchange creates a central point where fresh seafood buyers bid on and purchase over 100,000 pounds of seafood daily. The integration of the Gloucester auction into Global Food Exchange's operations will take place late summer.

About Global Food Exchange

Global Food Exchange is the leading web-based solution pioneering complete supply chain integration for the perishable food industry. Combining industry expertise and superior technology, Global Food Exchange provides seamless process and information flow from need to fulfillment, improving buyer efficiency, expanding market access, and allowing users to better perform category management and respond to changing consumer needs. A full service solution, Global Food Exchange connects buyers and sellers of poultry, seafood, produce, meat, dairy and specialty commodities. For more information call 404.872.4489 or visit www.GlobalFoodExchange.com.

About NFI

The National Fisheries Institute is a non-profit trade association representing companies involved in all aspects of the fish and seafood industry.