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Technology Stocks
Reckson Services Industries (RSII)

An SI Board Since January 2000

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Emcee: M Habermann	Type: Unmoderated

Introduction Compact

SI Acquires Significant Interest
in CommerceInc, a Leading Internet-Based B2B Information Publisher

NEW YORK--(BUSINESS WIRE)--Nov. 9, 1999--
--RSI provides CommerceInc the resources to populate
major B2B communities with business profiles --
Reckson Service Industries, Inc. (RSI) (Nasdaq: RSII), an
Internet-related operating company that identifies, acquires interests
in, and develops a network of business-to-business (B2B) e-commerce
and e-services companies, today announced that it has acquired a
significant interest in CommerceInc Corporation for $15.0 million. RSI
led the $20 million equity round which includes, among other
investors, existing investor Piedmont Venture Partners and new
investor Unterberg Towbin Capital Partners.
CommerceInc is an Internet-based publisher of detailed "Supplier
Cards" on more than 11 million U.S. businesses that enable customers
and suppliers to make informed decisions about prospective e-commerce
business partners. Enabling major portals to respond to B2B queries
accurately with branded content, the Supplier Cards offer a means for
identifying and validating the reliability of a company on the
Internet. Each of the Supplier Cards can contain information including
sales history, products and services, and third-party evaluations like
Dun & Bradstreet's (NYSE: DNB) risk assessment and business background
information.
Scott Rechler, President and CEO of RSI, stated "CommerceInc will
be a critical component in enabling B2B e-commerce. The 11 million
Supplier Cards published by CommerceInc provide online profiles of
buyers and sellers which will allow businesses to make more informed
customer and supplier choices." Mr. Rechler added, "We are impressed
with management's vision and their world class partners, including Dun
and Bradstreet, Excite Business Work.com, and BusinessWeek.
CommerceInc is positioned to capitalize on the approximately 10
million business-to-business queries that portals respond to on a
daily basis."
"RSI is an ideal partner in this venture because of their clear
vision, energy, and drive to succeed," said Alan Murray, President and
CEO of CommerceInc. "CommerceInc interviewed more than a dozen
potential financial partners and selected RSI because of its ability
and willingness to provide hands-on assistance. RSI has assembled a
team with a proven track record of success that understands our goals
and will allocate to us the resources that will give us the potential
to significantly grow and enhance our business."
About Reckson Service Industries
Reckson Service Industries, Inc. is a publicly-traded
Internet-related operating company that identifies, acquires interests
in, develops and manages a network of B2B e-commerce and e-services
companies that service small and medium sized enterprises and the
mobile workforce of larger companies. RSI generally acquires
significant interests in companies to influence their long-term
direction and value creation. To maximize the potential of its partner
companies, RSI provides them with operational support and strategic
guidance through its internal management resources, advisory board,
and proprietary business development resources. RSI also actively
works with its partner companies to foster a collaborative environment
and facilitate strategic relationships that provide access to the
resources and customer base of its entire network. For more
information about RSI, please go to www.rsiB2B.com.
About CommerceInc
CommerceInc (CI) is powering business to business (B2B)
marketplaces by providing online profiles of Buyers and Sellers. CI is
the publisher of more than 11 million Supplier Cards, the most
in-depth, up-to-date and comprehensive B2B content available online.
For more information about CommerceInc, please go to
www.CommerceInc.com or contact Clark Hale at (212) 229-9199.
Certain matters discussed within this press release are
forward-looking statements within the meaning of the federal
securities laws. Although Reckson Service Industries (RSI) believes
that the expectations reflected in such forward-looking statements are
based upon reasonable assumptions, it can give no assurance that its
expectations will be achieved. Factors that could cause actual results
to differ materially from RSI expectations include changes in the
business services industry, failure to consummate anticipated
transactions, finding acquisition opportunities which meet its
investment strategy, general economic conditions, competition, changes
in technology, technological obsolescence, interest rates, available
capital, conflicts of interests of management, and other risks
detailed from time to time in the RSI reports filed with the
Securities and Exchange Commission, including annual reports on Form
10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.
--30--ccv/cgo*
CONTACT: Company Contact
Reckson Service Industries, Inc.
Scott Rechler/Michael Maturo, 212/931-8000
OR
Media Contact
Ruder Finn, Inc.
Katie O'Connell, 212/583-2791
Erika Freed, 212/715-1538
TodINDUSTRY KEYWORD: E-COMMERCE INTERNET NETWORKING
TELECOMMUNICATIONS MERGERS/ACQ
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