FOR RELEASE At 8:30 A.M. ON NOVEMBER 2, 1999
ePlus Unveils ePlusSuiteSM
Solution allows customers to manage critical business resources
HERNDON, VA (November 2, 1999) - ePlus inc. (NASD:PLUS) formally rolled out its
new e-commerce solution, ePlusSuiteSM on November 1, 1999. ePlusSuite automates
the ordering, procurement, management, and financing of critical business assets
and services for enterprises, and delivers the solution seamlessly over the
Internet. ePlusSuite results from evolution of the company's online services
which it has been offering since 1996.
Phillip G. Norton, Chairman, President and Chief Executive Officer of ePlus
stated "ePlusSuite is in production and it delivers what customers want, since
it was developed in conjunction with our customer's needs and feedback. Because
it can be easily implemented and at a very low cost, it has broad market appeal
- - especially for fast growing, middle market companies that want to focus on
growth and their core business rather than implementing enterprise software
packages. As compared to the competition, ePlusSuite is more robust and offers
more services by taking care of the customer from initial end-user order through
the life of the asset, including asset management, financing, and disposal.
There are solutions out there which solve some of the customer's problems, but
we believe ePlusSuite offers the most comprehensive and complete solution
available, especially as a hosted solution."
Commenting on the future goals of ePlus, Phil Norton said "ePlusSuite is the
first major step towards converting ePlus into a business-to-business e-commerce
company. The next phase is to convert our existing 1,500 customers, including
the 60 customers who are on-line Manage+ customers, to the complete ePlusSuite.
This will allow us to capture transaction fees from the purchase of critical
business assets and services. The next phase will be to form partnerships and
create a buying network which will allow our customers to take advantage of the
currently estimated $400 million in annual purchasing run rate of ePlus.
Ultimately, we will be able to capture the purchasing of our large customer base
and compete against others by providing all of the highly valued services which
have always been our core competencies."
ePlusSuite consists of the following services:
- Procure +SM significantly reduces costs and increases efficiency for
procuring all types of critical business assets and supplies. Procure+
is a hosted Internet procurement solution that automates cumbersome
internal procurement processes, and can be implemented at low cost and
integrated with legacy systems. The solution offers customized
catalogue-based ordering, access to major vendor catalogues and can
accommodate any enterprise workflow or existing business rules.
Procure+ reduces the cost of procurement for any size order.
- Manage +SM reduces the total cost of ownership by giving customers
control over fixed assets. Manage+ is a complete asset management
solution that provides a hosted Internet asset repository with
customized reporting and electronic data interchange capabilities
including integration with legacy enterprise systems. Manage+
integrates seamlessly with Procure+ and Finance+ to provide a total
solution.
- Finance +SM is a competitive financing solution which provides
customers with the benefits of leasing to reduce the total cost of
ownership. Finance+ offers a flexible approach that allows customers
to reduce the risk of technological obsolescence, conserve capital,
acquire more equipment, and transfer the risks of ownership. Finance+
integrates seamlessly with Procure+ and Manage+ to provide a total
solution.
- Service +SM provides equipment, technical services, and consulting
solutions to customers. Service+ solutions can be offered within a
Procure+ catalogue for seamless integration with ePlusSuite.
ePlus inc., formerly MLC Holdings, Inc., is an e-commerce business to business
supply chain management services provider. Its services include automated
Internet procurement, asset management, and financing to commercial,
educational, and government enterprises. The Company is headquartered in
Herndon, VA, and has seventeen locations.
Servicemarks have been applied for: ePlusSuite SM, Procure+ SM, Manage+ SM,
Finance+ SM, and Service+ SM.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this release which are not historical facts
may be deemed to contain forward-looking statements. Actual results may vary due
to the following risks and uncertainties, including, without limitation, demand
and competition for the Company's lease financing and equipment sales and asset
management services, and the products to be leased or sold by the Company, the
continued availability to the Company of adequate financing, the ability of the
Company to recover its investment in equipment through remarketing, the
successful execution of its e-commerce strategy, and other risks or
uncertainties detailed in the Company's Securities and Exchange Commission
filings. Investors are cautioned that current financial results may not be
indicative of future results.
CONTACT: KLEYTON L. PARKHURST (KPARKHURST@MLCGROUP.COM)
SENIOR VICE PRESIDENT
PHONE: 703-709-1924
FAX: 703-834-5718
www.eplusonline.com