000254 SellMEAT.com Plans Online Marketplace For Meat

Liberty, MO - SellMEAT.com announced plans to launch its interactive Web site at the American Meat Institute's (AMI) 2000 Annual Meat Marketing Conference on April 2, 2000, in Kansas City, Mo. SellMEAT.com is a Web-enabled auction for the meat and poultry industry that provides meat and poultry packers, processors, traders and brokers, foodservice distributors and retailers with an online platform for real time buying and selling of raw and further- processed products.

Designed by meat industry veterans for meat professionals, SellMEAT.com is committed to providing synergy at every level of the meat and poultry industry. Wayne Rice serves as SellMEAT.com's chairman of the advisory committee. Mr. Rice has over 35 years experience in the meat processing industry and has worked for three of the top meat companies in the United States. He served as president of Farmland Foods, vice president of Cargill Foods' Excel Pork Division and a consultant to both Premium Standard Farms and Advanced Food Company. Additionally, Mr. Rice served as president of Kansas City Steak Company and is currently overseeing the management of Food Masters, a meat brokerage company. Mr. Rice grew up working in the family business, R.B. Rice Sausage, eventually taking over control of the company.

“SellMEAT.com is well positioned to bring the benefits of technology to an age-old industry, and will provide a cost-effective and user-friendly approach to buying and selling meat and poultry. The company offers end-to-end solutions -- from slaughter to consumption,” said Wayne Rice, chairman of SellMEAT.com's advisory committee. “The company's new online community gives SellMEAT.com the opportunity to provide value at every level of the industry. Not only will the site improve the way buyers and sellers interact, it also will promote efficiency, productivity and quality assurance within the industry. SellMEAT.com is the catalyst for the next phase in the evolution of the meat industry.”

The company is assembling an industry experienced management team with proven records of developing successful organizations. Rob Chestnut, SellMEAT.com's chief operating officer, most recently served as vice president of finance for Variform, Inc., a Midwest-based $300 million manufacturing company. Prior to joining Variform, Inc., Mr. Chestnut served as controller for Farmland Foods and held a number of other strategic management positions within the company.

The company is committed to supporting the estimated $250 billion meat and poultry industry by consolidating services, providing tools and information and bringing together sellers and buyers. As the foremost electronic intermediary of the meat industry, SellMEAT.com will enable USDA approved meat industry professionals to electronically negotiate pricing and availability through its Web-based sourcing, bidding and ordering system. SellMEAT.com's mission is to transform the way fresh and frozen meat is bought and sold.

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