STAMFORD, Conn. & CLIFTON, N.J.--(BUSINESS WIRE)--Feb. 8, 2001--Pitney Bowes Inc. (NYSE:PBI) and Vertex Interactive Inc, (NASDAQ:VETX) jointly announced today the formation of a strategic partnership in which Pitney Bowes will transfer its Transportation Management Software and certain engineering assets to Vertex and receive in return an equity stake in Vertex, the market-leading, e-business supply chain and fulfillment solutions provider. The companies will jointly develop, market and support a modular suite of integrated supply chain applications that leverage Vertex's leading-edge Renaissance Software for supply chain management and Pitney Bowes' distribution strength and shipping and transportation industry expertise.

The transaction will marry Pitney Bowes' Conquest(TM) multi-carrier transportation management software with Vertex's JAVA-based order and warehouse management software (added through Vertex's recent acquisition of Renaissance Software) to provide mid- to large-sized businesses with a complete, web-based, scalable supply chain management solution that can be deployed quickly and cost-effectively.

The application suite, Pitney Bowes Supply Chain Solutions, powered by Renaissance Software, will be marketed and serviced by Pitney Bowes, and will consist of three world-class modular components designed to work in concert. When used together, the modules form a comprehensive tool for managing supplies, finished goods, and warehouse inventory, from procurement to customer delivery. Modules may also be used individually or in a variety of combinations to fit specific user needs. The initial version of the suite will integrate transportation management and supply chain execution functions using a sophisticated mapping integration tool. Future versions of the software will offer built-in integration that allows components to be plugged together directly.

"We've been integrating affordable, user-friendly transportation management software into supply chain systems for years, and many of our customers have asked us to provide a full supply-chain package, " said Stephen Smith, President of Pitney Bowes's Supply Chain division. "We looked for a leading technology partner who shared our philosophy about customer focus, affordability and ease of implementation. We found them in Vertex's Renaissance. Their warehouse and order management software is recognized as the industry leader in JAVA engineered, web-based technology. The JAVA architecture ensures that growing companies can quickly deploy the order fulfillment systems that address their businesses needs, and achieve a fast return on their investment. And just as important, the suite will help companies stay competitive in today's pervasive Internet world through an e-Business system designed to improve customer relations, and expand and promote new business opportunities."

"Pitney Bowes understands the exploding supply chain management needs of all businesses and the critical impact of order fulfillment on customer satisfaction," said Nicholas Toms, Joint Chairman and Joint CEO at Vertex Interactive. "Our respective organizations complement each other in much the same way as the products. The Conquest Transportation Management System provides real-time carrier (LTL, TL, and small parcel) information -- including least cost routing -- that customers need to manage and maximize fulfillment processes."

Mr. Hugo Biermann, Joint Chairman and Joint CEO of Vertex Interactive stated, "Pitney Bowes' extensive expertise in transportation management and carrier relationships makes them an ideal partner to market and deliver a industry-leading, end-to-end supply chain solutions. In addition, Pitney Bowes' sales and service capabilities will provide global reach into the marketplace and bring a new level of service to their existing customers while broadening the appeal of our combined product offerings."

The suite and its components are designed to share data electronically with other business software, such as accounting systems, enterprise resource planning (ERP) packages, and a variety of e-commerce programs. They are also designed to let businesses offer their customers order fulfillment options using simple web-based forms.

About Vertex

Vertex Interactive, Inc. provides business-to-business supply chain fulfillment technologies, in such business critical areas as customer relationship management, inter-enterprise applications integration; logistics, inventory and warehouse management, distribution and transportation planning and management. Vertex has a rapidly growing international presence, with operations currently throughout North America and Europe. Vertex's customers include, among others, leading companies such as, IBM, Merck, Pfizer, Warner Lambert, Conagra, Estee Lauder, Bristol Myers Squibb, Glaxo Smith Kline, Daimler Chrysler, Motorola, Fiat, BMW and Imperial Tobacco. For additional information, please visit us on the Internet at www.vertexinteractive.com.

About Pitney Bowes

Pitney Bowes Inc. is a $3.9 billion global provider of integrated mail and document management solutions headquartered in Stamford, Connecticut. The company serves over 2 million businesses of all sizes in more than 130 countries through dealer and direct operations. The Pitney Bowes Supply Chain division, formerly Pitney Bowes TranScape, is a global provider of software and services that extend control and visibility of the supply chain throughout the enterprise, and enable electronic transactions between business partners and suppliers. For additional information about Pitney Bowes, please visit our Website at www.pitneybowes.com. Additional information about Pitney Bowes Supply Chain Solutions is available at www.supplychain.pb.com.

--30--kk/ny*