Navy, Interior and Marshals Service Select FedBid for Reverse Auction Services

October 5, 2010

VIENNA, VIRGINIA, October 5, 2010 - FedBid, Inc., The Buyer-Driven Online Marketplace® for commodity buys, announced today that U.S. Navy, U.S. Department of the Interior, and U.S. Marshals Service all have awarded multi-year contracts to the company to provide reverse auction services in support of the agencies’ acquisition efforts.

“The Navy, Interior Department and U.S. Marshals Service have very different missions, but they share a common goal in acquisition management: to be prudent and effective stewards of the taxpayers’ money,” said Glenn Richardson, FedBid President. “FedBid’s online reverse auction marketplace helps government agencies reduce procurement costs while improving operational efficiencies. Whether an agency is outfitting Navy sailors, park rangers, or Federal law enforcement officers, FedBid gives federal acquisition managers access to tens of thousands of suppliers competing to meet their agency’s needs. The range of support services we provide before, during and after the reverse auction process greatly simplifies the buying process and enables procurement professionals to spend more time applying their expertise to mission critical work.”

FedBid has worked with the Navy for several years. Both the U.S. Marshals Service and the Department of the Interior are new FedBid customers that recently completed pilots to determine the efficacy of using the online marketplace in support of organizational procurement. The contracts will enable FedBid to provide comprehensive reverse auction services through the FedBid online marketplace, providing valuable process efficiencies, transparency and cost savings for commodity and simple services buys.

FedBid continues to work with thousands of procurement professionals and acquisition chiefs across the Federal Government to help them meet the acquisition savings requirements and best practices initiatives consistently communicated by the White House’s Office of Management and Budget — most recently by Federal CPO and OMB Deputy Director of Management, Jeffrey Zients, in his Accountable Government Initiative memorandum. More than three thousand buyers from dozens of major Federal agencies and more than 55,000 registered sales agents at nearly 38,000 companies participate in FedBid’s reverse auction marketplace.

ABOUT: FedBid, Inc.

FedBid, Inc. provides FedBid® online procurement services through The Online Reverse Auction MarketplaceSM at www.FedBid.com, the leading online marketplace for public sector acquisition of commodities and simple services. To date, procurement professionals at dozens of federal organizations, including DoD, DHS, and DoS, and commercial entities have used FedBid to procure $billions worth of commodities and simple services from thousands of businesses around the U.S. For more information, visit FedBid online at www.FedBid.com or call (877) 9FEDBID. FedBid — Better Buying | Smarter Selling®