Tristate Holdings, Ltd adopts TradeCard solution as standard to streamline vendor management and
drive procurement process efficiencies
Leading garment manufacturer benefits from paperless trade transactions
New York, July 22, 2004. TradeCard Inc., the leading financial supply chain services provider,
today announced that Hong Kong-based Tristate Holdings, Ltd, one of the largest garment producers in Asia, is using
TradeCard's web-based global trade transaction platform to manage its global trade business with multiple suppliers.
Transactions managed by the TradeCard system include accessory and material purchases from suppliers. Through
TradeCard, Tristate Holdings' trading partners gain online access to real time reporting to improve the settlement
process. Tristate Holdings gains online access not just to multiple suppliers but also logistic services and
TradeCard's extensive network of service providers.
In order to improve business processes, Tristate Holdings and TradeCard have jointly worked to integrate TradeCard
with the company's current systems. This integration provides centralized access across multiple factories and
countries to allow automation of the transaction process from purchase order to Accounts Payable. TradeCard's proven
trade transaction platform enhances the value of Tristate Holdings' existing in-house back office system by providing
a single and automated interface to its trading partners.
Tristate Holdings, whose customers include most globally recognized garment brands and major retailers, is renowned
for its record of excellent craftsmanship.
According to Mr. Gene Hue, VP - Supply Chain, Tristate Group, TradeCard made it possible for companies throughout
Tristate Holdings to be connected online in a fast and easy way. He said, "I have been extremely impressed by
TradeCard's complete commitment to their customers. TradeCard has given us a solution that is flexible enough to meet
our needs as a large company who has to communicate with many different parties such as customers, vendors, our own
factories, and logistics and financial institutions across multiple countries. Our aim is for TradeCard to be the
standard for the vast majority of our business."
Added Eleni Wang, President and COO, Tristate Holdings, Ltd: "The increased visibility into transactions that we
gain through TradeCard helps us to achieve an important strategic goal: to ensure that our factories receive the
right goods in the right quantities at the right time. This is absolute key in our ongoing effort to optimize
purchasing and manufacturing operations."
"We feel privileged to be able to work closely with Tristate Holdings, Ltd, a company that is a clear leader in its
field and a pioneer in applying the latest supply chain technology," said Kurt Cavano, Chairman and CEO, TradeCard
Inc. "The apparel industry is a strategic vertical for us and by bringing all aspects of Tristate's trade business
online with TradeCard, we have set a clear precedent for the wide array of benefits both financially and in process
efficiencies that can be achieved through full automation of financial supply chain processes in this important
global industry."
About TradeCard
TradeCard, the leading Financial Supply Chain services provider, is revolutionizing global trade with a web-based
platform that automates the financial processes in supply chains that have been plagued with decades-old paper-based
solutions. By using TradeCard, buyers and sellers can manage their transactions with complete visibility to initial
orders through final settlement. TradeCard's global network of partners provides additional automated services on
the platform including supply chain financing, credit protection, money movement and inspection. In addition to
process improvements, customers realize immediate cost savings, optimized cash flow, reduced reliance on credit lines
and improved supply chain relationships. Headquartered in New York City, TradeCard, Inc. has offices in San
Francisco, Hong Kong, Brussels, Taipei, Seoul, Tokyo and Shenzhen. TradeCard is a registered trademark in the United
States and elsewhere throughout the world. TradeCard is located online at www.tradecard.com.
About the Tristate Group
Tristate Holdings Limited, a listed company on the Hong Kong Stock Exchange, is the result of a merger between two
major garment manufacturers, Tristate and Hwa Fuh, both established companies with long histories in Hong Kong.
Tristate Holdings produces a full range of garments from "Bridge" and "Better" ladies apparel lines to ladies career
suiting, sportswear and casual wear. The company also produces outerwear for both ladies and men. The company makes
garments for famous brand names in the United States, Japan and Europe. It operates 15 factories with modern
production equipment, situated in the People's Republic of China, Macau, Taiwan, the Philippines, Thailand and
Vietnam. It has sales offices in Hong Kong, Taipei, Korea, Singapore, and the United States. The group employs over
25,000 employees and produced over 26 million garments in 2003. For more information, please visit Tristate's website
at www.tristateww.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.
