TRADECARD COMPLETES $10 MILLION EQUITY ROUND LED BY WARBURG PINCUS AND ADDS NEW WORLDWIDE HEAD OF SALES TO MANAGEMENT TEAM

NEW YORK, November 12, 2002 - TradeCard, Inc, the financial supply chain service provider, today announced that it has raised an additional $10 million of equity capital. Warburg Pincus, the global private equity firm and majority shareholder in TradeCard, led the round.

TradeCard Chairman and CEO Kurt Cavano said: "A 100% increase in membership in one year and a monthly revenue growth of 15% this year speak for themselves. This additional funding reaffirms that our investors see our achievements and are committed to our success."

TradeCard provides an alternative to traditional paper-based, labor-intensive and expensive trade settlement methods. The Web-based system enables buyers and sellers to initiate, conduct and settle transactions online through a secure network.

"TradeCard's strong performance and fantastic growth show that it has developed a value proposition that really works," said Cary Davis, a Warburg Pincus Managing Director.

TradeCard has achieved many important customer milestones to date:

• Revenues have increased at a growth rate of over 15% per month in 2002 and purchase orders initiated through the TradeCard system have shown monthly increases of 40% over the past quarter
• TradeCard corporate membership is approaching 600, including 5 of the largest US retailers, the 2 largest Japanese trading companies, 2 of the largest Korean chaebols, and several of the world's largest footwear, apparel, and toy companies.
• TradeCard's integrated trade services network consists of over 100 logistics providers, 15 global financial institutions, the top three inspection services (Bureau Veritas, Inspectorate and SGS), the leading provider of export credit insurance (Coface), and the largest broker of cargo insurance (Marsh McLennan).
• Transaction service capabilities in over 25 countries
• Was selected as the Best Online Trade Finance and Trade Logistics Provider for 2001 and 2002 by Global Finance magazine
• Received the AICPA's WebTrust Confidentiality seal as first U.S. company to do so; also received AICPA's SysTrust seal

About TradeCard, Inc.
TradeCard is a financial supply chain service provider. TradeCard's secure transaction infrastructure greatly reduces the inefficiencies and uncertainties found in traditional domestic and cross-border trade transaction processes. By streamlining and enhancing the steps necessary for purchase order approvals, payment decisions and settlement, TradeCard provides a cost-effective, practical and patented service for financial supply chain management.

TradeCard, Inc. is headquartered in New York City with offices in the San Francisco Bay Area, Hong Kong, Taipei, Seoul and Tokyo.

TradeCard can support transactions among the following countries: Australia, Austria, Belgium, Brazil, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, the Netherlands, Norway, Portugal, Singapore, South Korea, Spain, Sweden, Switzerland, Taiwan, the United Kingdom, and the United States.

TradeCard is a registered trademark in the United States and elsewhere throughout the world. TradeCard can be found on the World Wide Web at http://www.tradecard.com.

About Warburg Pincus
Since 1971, Warburg Pincus has invested more than $14 billion in 466 companies in 29 countries. The firm currently has nearly $10 billion under management, with approximately $6 billion available for investment in a range of industries including: business services, communications, financial services, healthcare and life sciences, information technology, media and natural resources. Throughout its 30-year history in private equity, Warburg Pincus has invested at all stages of a company's life cycle, from founding start-ups and providing growth capital to leading restructurings, recapitalizations and buy-outs. Warburg Pincus has experience investing in many industries, including enterprise software and financial services, where past portfolio companies include BEA Systems, VERITAS Software, The Dime Savings Bank, and Mellon Bank.

Warburg Pincus has 59 partners and 116 professionals in offices in New York, Menlo Park, London, Munich, Hong Kong, Singapore, Seoul, Tokyo and Mumbai. Warburg Pincus' sole business is private equity investing. The firm has an active portfolio of 150 companies. For further information, please visit www.warburgpincus.com.

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