Zoho Acquires National Content Liquidators, Chooses Ariba B2B Commerce Platform to Build Auction Channel

SUNNYVALE, Calif.--(BUSINESS WIRE)--Sept. 27, 2000--Zoho, the
premier online marketplace for the hospitality industry, today
announced the acquisition of National Content Liquidators Inc. (NCL),
the leading liquidator for hotel and resort properties, to deliver the
industry's only fully automated liquidation service and online auction
channel. With today's announcement, Zoho plans to transform the nearly
half billion-dollar annual hospitality liquidations market from a
fragmented, geographically-limited business into a highly efficient
and more profitable online merchandise distribution channel.

To implement its auction capabilities, Zoho has selected Ariba,
Inc. (Nasdaq: ARBA), the leading B2B commerce provider, to build a
secure online auction channel on the Ariba Dynamic Trade solution.
Ariba Dynamic Trade enables companies to deploy dynamic trade
mechanisms such as auctions, reverse auctions, bid/ask exchanges, and
negotiations. Zoho's online auction channel will broaden the company's
marketplace offerings by providing properties the ability to bid on
liquidated FF&E (furniture, fixtures and equipment). In addition, Zoho
will establish a complementary distribution channel on the marketplace
to allow properties access to standardized liquidated merchandise at
fixed prices. Zoho will immediately begin integrating NCL operations
and providing service under the name Zoho Liquidation Services.
Further, Zoho is projecting the new online auction channel to be
available in the first half of 2001, providing the industry's first
end-to-end solution revolutionizing hospitality renovations and
liquidations.

With over 30 years experience in hospitality property
liquidations and a staff of 40, NCL provides Zoho with unparalleled
knowledge and expertise in renovations and liquidations processes.
Zoho plans to automate and integrate NCL's current liquidations
operations, bringing it online to reach a broader, national audience
of buyers and sellers. With the addition of online liquidations and an
online auction channel, Zoho continues to round out its offerings to
deliver the most comprehensive life cycle suite of products and
services available to the hospitality industry.

Since our launch in March, we have been one hundred percent
focused on executing our vision of delivering industry-changing
solutions to all sectors of the hospitality life cycle, most recently
expanding Zoho's supplier base threefold and bringing on board close
to seventy-five properties, said Bill Fraine, president and CEO of
Zoho. By acquiring NCL, Zoho is once again breaking new ground,
transforming the time consuming and costly liquidations process
currently commonplace in the market today to a fully streamlined and
automated solution that will dramatically increase return on assets
from liquidated merchandise, delivering faster distribution channels
and access to a broader, national audience of buyers.

NCL was approached by multiple players in the market, but from
our analysis Zoho's unparalleled level of commitment and ability to
execute its industry-leading vision for the hospitality industry make
it the clear winner, said Michael Lunsford, president and CEO.
Through Zoho, we will be able to bring incredible efficiencies and
maximum benefits to the industry. We are confident that incorporating
online liquidations and auctions will contribute to Zoho's success as
an innovator and true leader in this marketplace.

About Zoho

Zoho is the premier online hospitality marketplace backed by
leading technology companies, including Dell and Ariba, and is the
choice of leading properties such as Harrah's Entertainment Inc. and
Starwood Hotels & Resorts Worldwide, Inc., including its St. Regis,
Luxury, Westin, Sheraton, Four Points and W brands. With no software
to install, upgrade or maintain, Zoho empowers purchasing
organizations and suppliers across all segments of the hospitality
industry to streamline the entire procurement lifecycle - from
planning and design, to procurement of operating supplies and
services, to liquidation of used and surplus goods. Unlike
e-purchasing sites, Zoho helps hospitality organizations strengthen
their procurement processes by eliminating inefficiency and reducing
costs across the entire supply chain - including transportation and
banking. For more information, visit Zoho on the Worldwide Web at
www.zoho.com, or call Zoho world headquarters at (408) 469-4200.

About NCL

For over 30 years, National Content Liquidators (NCL) has been
recognized as the nation's premier hotel liquidator having
successfully purchased and re-marketed the contents of over 800 hotels
and resorts located in the continental U.S., Hawaii, Puerto Rico and
Canada. NCL tailor's its services to meet the needs of each client's
unique project and has perfected the on-site liquidation process.
Recently acquired by Zoho Corporation, NCL's services will now be
incorporated into Zoho's Online Marketplace for the hospitality
industry. Together, NCL and Zoho will provide the industry's first and
only fully automated liquidation and online auction channel.

Logos, product and company names mentioned are the property of their respective owners.

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