TRADECARD SUCCESSFULLY COMPLETES $25.5 MILLION EQUITY ROUND LED BY WARBURG PINCUS

NEW YORK - September 10, 2001 - TradeCard, Inc, the financial supply chain service provider, today announced that it has raised an additional $25.5 million of equity capital. TradeCard has raised a total of $70 million of equity capital since inception. Warburg Pincus, the private equity investment firm and majority shareholder in TradeCard, led and guaranteed the successful completion of the round. In addition, a number of other TradeCard shareholders also participated in the financing.

TradeCard Chairman and CEO Kurt Cavano said: "This funding comes at a point when the company is growing its member base, dramatically increasing transaction volume, and moving on a path to profitability. This round ensures that we get there sooner rather than later." Continuing, Cavano added: "Our investors' expanded commitment to TradeCard is one of the best validations of a company in the current market environment. This environment requires companies to think smarter about their businesses. TradeCard has the tools that enable companies to collaborate online with their trading partners resulting in improved efficiencies and lower costs."

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

Cary Davis, Managing Director of Warburg Pincus, said, "Many companies now are looking for ways to reduce costs, which is one of the benefits of implementing TradeCard's solution. TradeCard services and technology allow companies to manage their financial supply chain more effectively, reducing working capital, mitigating risk and providing significant process efficiencies."

Warburg Pincus made its initial investment in TradeCard in 1999. Added Davis: "Unlike other companies in the online payments marketplace, TradeCard is not just talking about these capabilities; they are completing transactions today. This financing provides TradeCard the capital to cement their position in the market."

TradeCard has achieved many important milestones to date, including:

• The development and commercial launch of TradeCard's initial web-based transaction management and financial settlement offering in April 2000
• Partnerships with over a dozen banks that include Comerica, Fleet, Bank of East Asia and Bank SinoPac. These banks provide TradeCard product sales and service support as well as financing to TradeCard members
• A network with over 40 logistics companies including Fritz & Co., Jardine, and Dimerco; 80% of the industry's inspection providers; Coface, the leading provider of export credit insurance; Marsh, the largest broker of cargo insurance; and Thomas Cook, a leading money movement provider
• A partnership with MasterCard International to provide businesses-to-business payment capabilities for small as well as large dollar purchases
• An alliance with Cap Gemini Ernst & Young to provide financial supply chain tools to CGE&Y clients and prospects. The Spring 2001 launch of TradeCard's enhanced platform. The platform hosts a full suite of financial settlement products that enable buyers and sellers to track and settle virtually any type of domestic or cross-border financial transaction
• Over 600 active users of the TradeCard system, including RadioShack, Wolverine World Wide, SK Global and International Playthings
• Acknowledgment by Global Finance magazine as "Best Online Trade Finance Service Provider" for 2001
• Technologic Partners' recognition of TradeCard as one of the top ten privately held e-finance companies voted most likely to succeed at their Financial Services Outlook conference in August 2001
• The launch of TradeCard Japan K.K., a joint venture backed by Mitsui & Co, Ltd, Mitsubishi Corporation and Warburg Pincus

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 San Francisco, Seattle, Chicago, Hong Kong, Taipei, Seoul and London. TradeCard can be found on the World Wide Web at http://www.tradecard.com.

About Warburg Pincus
Since 1971, Warburg Pincus has invested approximately $12 billion in 450 companies in 29 countries. The firm currently has $10 billion under management, with an additional $5 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 50 partners and 100 professionals in offices in New York, Menlo Park, London, Munich, Hong Kong, Singapore, Seoul, Tokyo, Mumbai and Sao Paulo. Warburg Pincus' sole business is private equity investing. The firm has an active portfolio of 175 companies.

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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.