Novopoint(TM), a dynamic transaction and information hub that connects buyers and sellers of food and beverage ingredients announced yesterday the appointment of Srini Nagabhirava as Senior Vice President of Product Development and Delivery. In this new post, Srini will work closely with Novopoint customers to develop and expand Novopoint's product service offerings.

``Srini has the technical background and business savvy to rapidly deliver strategic products and services that truly impact our customers' supply chain costs,'' said Bob Schult, Novopoint President and CEO. ``He understands our customers' needs, and creatively finds solutions to improve their bottom line.''

As Senior Vice President of Development and Delivery, Srini oversees the company's efforts to develop and deliver strategic supply chain and integration products to Novopoint customers - leading food and beverage manufacturers and suppliers. Srini is also concentrating on building Novopoint's talented team of technology and food and beverage industry experts.

``We're interested in recruiting talented professionals who are enthusiastic about pioneering advanced technology systems that will change the face of supply chain management in the F& B industry,'' said Srini. ``This is an exciting time at Novopoint.''

Already, Srini managed the development of Novopoint2Point, Novopoint's integration process. Since going live in September 2000, more than 250 food and beverage company locations have been integrated into Novopoint's system. As a result, more than $30 million worth of transactions have traveled through Novopoint's hub.

``In only a few weeks time, our customers can be completely integrated,'' said Srini. ``Novopoint2Point fully automates order cycle transactions between manufacturers and suppliers, and provides visibility to key elements of the process. In addition, our integration provides documentation critical to the food and beverage ingredient industry operations, such as certificates of analysis, seal numbers and bills of lading. This really tightens up the ordering process for our customers - late shipments and wasted products will be significantly reduced.''

Srini joins Novopoint from iCentennial Ventures LLC, an Internet holding company, where he served as Chief Technology Officer of MicroPortal. There, he was responsible for developing the product strategy for multiple Internet firms including Worldspy.com and Copera.com. He served as primary technical adviser and architect, building world-class sites and formulating business strategy.

Prior to that, Srini was a Senior Manager with Andersen Consulting where he led various e-business projects. He gained specific food and beverage industry experience during his five-year tenure working for various divisions at PepsiCo. At Pepsi-Cola, Pepsi Food Systems, Pizza Hut, Taco Bell, Kentucky Fried Chicken and Pepsi Restaurants International, he managed efforts in e-commerce, supply chain operations, customer relationship management and infrastructure. Before PepsiCo, Srini was an independent technology consultant to several companies including Prodigy, IBM and Shearson Lehman Brothers.

``Srini has done everything from developing technology solutions for Internet start-ups and foodservice retailers to managing strategic operations for some of the largest technology powerhouses,'' said Schult. ``He's a valuable addition to our Novopoint management team.''

Srini holds a bachelor's degree in engineering from the University of Mysore, India and an MBA in Strategic Management and Information Systems from Pace University.

About Novopoint

Novopoint is a dynamic, neutral electronic B2B transaction and information hub that connects buyers and sellers of food and beverage ingredients and related services and gives them a one-point resource through which they can collaborate and gain access to mission-critical services and information. Recognized industry leaders hold equity ownership in the company. Cargill, an international marketer, processor and distributor of agricultural, food, financial and industrial products is a founding minority investor in Novopoint. Additional investor Crosspoint Venture Partners, ranked by Forbes magazine as the best venture capital firm each year from 1997 through 1999, specializes in B2B e-commerce. Novopoint was recently named to The Internet 100 by Crain's Chicago Business. To find out more about Novopoint, visit www.novopoint.com.