HI-TEC SPORTS USA NOW TRANSACTING WITH TRADECARD
Shoe company replaces paper-based trade transaction tools with Internet-based financial supply chain technology
NEW YORK - May 22, 2002. Hi-Tec Sports USA, a leading footwear manufacturer which distributes
over 1.5 million pairs of shoes annually under the Hi-Tec and Magnum brands, has adopted TradeCard to manage the
financial components of their trade transactions with vendors.
TradeCard Chairman and CEO Kurt Cavano said: "Hi-Tec's decision to use TradeCard reflects a growing awareness that
companies save both time and money by using TradeCard in place of traditional trade transaction methods. With
TradeCard, companies like Hi-Tec can benefit from freed-up credit lines, savings in transaction fees, and significant
cost reductions through simplified transaction processing."
Since launching in April 2000, TradeCard has provided alternatives to traditional paper-based, expensive and labor-
intensive trade settlement methods to companies throughout the world. The web-based system enables buyers and sellers
to initiate, conduct and settle trade transactions online through TradeCard's secure network. The system has proven
beneficial for companies of all sizes. Smaller companies can access the TradeCard system through a simple browser,
and larger companies can access TradeCard through their existing Enterprise Resource Planning (ERP) systems. Some
of TradeCard's member companies include RadioShack and Wolverine World Wide, the manufacturers of Hush Puppies and
other leading shoe brands.
"We've been pleased with TradeCard since we started using it several months ago," said Robert C. Kaiser, Chief
Operating Officer of Hi-Tec Sports, USA. "TradeCard helps us better manage the flow of cash against the movement of
goods from our vendors. The system streamlines our procurement process, provides us the information we need to make
payment decisions, and saves us money. It's a simple, solid system."
About TradeCard
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, Chicago, Hong Kong,
Taipei, Seoul, Tokyo and London.
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. TradeCard can be found on the World Wide Web at
http://www.tradecard.com.
About Hi-Tec
Founded in 1978, Hi-Tec Sports USA, Inc. is a leading footwear manufacturer based in Modesto, CA, that distributes
over 1.5 million pairs of shoes each year nationwide under both the Hi-Tec and Magnum brands. A subsidiary of
privately owned parent company Hi-Tec Sports of Britain, Hi-Tec Sports USA, Inc. joins several other international
subsidiaries, distributing in over 70 countries, to form a multi-million dollar global footwear enterprise.
Hi-Tec Sports USA, Inc. contracts with over 50 independent sales representatives to place Hi-Tec and Magnum footwear
in sporting goods stores, outdoor specialty stores, department stores, and uniform and military outlets throughout
the country. In addition, several Hi-Tec retail outlets located throughout northern California contribute to the
success of both brands.
Hi-Tec can be found on the World Wide Web at www.hi-tec.com
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This press release contains a number of matters that constitute forward-looking
statements. The presentation reflects the current views of TradeCard's
management with respect to future events and is subject to risks and
uncertainties that could cause actual results to differ materially
from those contemplated in such forward-looking statements.
