B2BGALAXY.COM APPOINTS CHIEF TECHNOLOGY OFFICER

New York, NY — August 7, 2000 — B2Bgalaxy.com, a leading provider of industry-specific business-to-business e-commerce marketplaces, today announced that it has promoted Edward R. Pick, Director of Software Development, to the position of Chief Technology Officer. Mr. Pick will be responsible for the strategic development of technical architecture as B2Bgalaxy.com further expands its current marketplaces, licensing opportunities and ASP models. He replaces David Rowe, former CTO and COO, who was promoted to President and CEO of B2Bgalaxy.com in June of this year.

"Ed’s extensive experience in technical management and development of complex systems architecture will prove invaluable as we continue to move forward with the development of ASP and licensing models in conjunction with our expanding suite of PowerProducts," said David Rowe, President and CEO. "Ed’s promotion to CTO represents an orderly transition following the continued development of the management team."

In his prior role as the Director of Software Development for B2Bgalaxy.com, Mr. Pick served as the Chief Architect of PowerPurchasing, the award-winning e-marketplace exchange technology. Before joining the company, he spent 13 years designing and implementing innovative distributed systems and web-based e-commerce applications in the telecommunications industry with IDT and Geotek Communications, Inc. Mr. Pick’s breadth of industry experience also includes systems architecture development within the banking industry, for customers such as First Union, Wells Fargo and NationsBank, and independent consulting for several Fortune 500 clients.

"As a member of the team that developed the foundational technology for our PowerProduct solutions, I am extremely enthusiastic about the potential that B2Bgalaxy.com’s technology holds for the development of e-commerce marketplaces," said Pick. "I look forward to working with an experienced and talented team to strengthen and innovate our product offerings and remain at the forefront of business-to-business online marketplace solutions."

About B2Bgalaxy.com

B2Bgalaxy.com creates industry-specific business-to-business e-commerce marketplaces that link buyers and sellers through competitive on-line exchanges and focuses on improving member profitability through the use of PowerPurchasing, the award-winning marketplace exchange technology.

FOODgalaxy.com enables restaurants and other food service establishments to post a customized inventory list online and requires suppliers to continually submit their latest product prices.  This competitive process drives down the cost of goods to buyers by as much as 20 percent and significantly reduces the time traditionally devoted to the comparative price shopping process. Additional functionality is available to distributors allowing them to reduce their cost of customer acquisition, and their cost of conducting business through the power of the Internet.

B2Bgalaxy.com expects to launch a series of marketplaces over the next few years through its B2Bgalaxy.com unit.  New marketplaces will be industry-specific, link buyers directly with suppliers and manufacturers and utilize B2Bgalaxy.com’s PowerProduct suite of e-procurement application services.

Some paragraphs of this news release, particularly those describing Cornerstone's, FOODgalaxy.com's and B2Bgalaxy.com's future business prospects, contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of factors, including difficulties in implementing desired features, delays in completing the B2Bgalaxy and various industry specific web sites, including FOODgalaxy.com, technical challenges, cost overruns, changes in design, competition, and so on, any of which could have an adverse effect on the Company and B2Bgalaxy.com and its communities, including FOODgalaxy.com. Factors such as these could have an adverse effect on the Company's results of operations. In light of significant uncertainties inherent in forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.