Receivables Exchange's Membership Exceeds $500 Million in Accounts Receivable Turnover

The Receivables Exchange (www.receivablesXchange.com), the world’s first online marketplace for real-time trading of accounts receivable, today announced that its Charter Member program has surpassed $500 million in accounts receivable turnover since commencing its sales initiatives two months ago.

“We are thrilled to see such a tremendous response to the offering at this early stage in the development of the company,” said Justin Brownhill, co-founder and chief executive officer of The Receivables Exchange. “Most encouraging is that this interest is coming from companies nationwide and of all industries and sizes – from under $10 million to over $150 million – and from companies that have never previously considered the possibility of turning their accounts receivable into working capital.”

The Receivables Exchange is transforming the way private companies gain access to working capital, making it quick and easy to source cash so they can reduce the constraints of time and money on their businesses. Since April, The Receivables Exchange has been welcoming small and medium sized privately held companies as Charter Members of the Exchange in advance of the public launch of the real-time trading platform scheduled for Fall 2008. Members span a diverse range of industries, including manufacturing, technology, transportation, media, distribution, healthcare and staffing – all realizing the strategic advantage of turning their accounts receivable into working capital, particularly in today’s troubling credit crunch. In the United States, there is more than $25 trillion in accounts receivable annual turnover; less than one percent of that volume is currently being financed.

The Receivables Exchange’s proprietary online electronic marketplace will bring together a global network of accredited capital providers with millions of growth-oriented small and medium sized businesses in search of capital. The Exchange is based on the same technology as the New York Stock Exchange’s (NYSE) bond trading system and will serve as the first centralized marketplace designed specifically to meet the liquidity needs of private companies.

The Receivables Exchange is the world’s first online marketplace for real time trading of accounts receivable. The Receivables Exchange provides a new dimension in working capital management by connecting companies to a global network of accredited capital providers who compete in real time to buy and trade receivables. Exchange participants benefit from immediate and flexible access to working capital finance at the most competitive rates. The Receivables Exchange is a fast and efficient way to manage working capital at a fraction of traditional financing costs. The Receivables Exchange has secured financing from Prism VentureWorks and Fidelity Ventures, the venture capital arm of Fidelity Investments. The Exchange’s trading platform is based on the New York Stock Exchange’s (NYSE) bond trading platform.