Water2Water.com Becomes First Internet-Based Vertical Marketplace for Water and Wastewater, Azurix Signs Agreements

February 27, 2000

Azurix Corp. is expanding Water2Water.com, an Internet
site for buyers and sellers of water and related services, to include
procurement, which creates the first Internet-based vertical marketplace that
will serve the full spectrum of needs for water and wastewater customers.

In addition to enabling customers to transact business,
Water2Water.com will offer several new procurement products, enabling customers
to more efficiently procure and sell water-related equipment, services and
chemicals. One of the first services to be available on the expanded site is MRO
Desk™, which will serve as an Internet-based procurement network for customers
seeking maintenance, repair and operations products. Additional products will be
added throughout the year, including the Equipment Desk™, which will allow
customers to conduct auctions and reverse auctions for new, used and excess
equipment; Construction Desk™, which will facilitate project management and
execution of construction projects, and WaterChem Desk™, which will enable
customers to more efficiently buy and sell water and wastewater treatment
chemicals. Water2Water.com also will provide interactive decision support tools
as well as industry information from trade publications.

"Water2Water.com will provide value to customers by
allowing buyers to leverage purchasing power across the industry's fragmented
buying base in addition to giving customers the ability to more efficiently
engage in the transfer and physical delivery of water and related
services," said Rebecca Mark, chairman and chief executive officer of
Azurix. "On the procurement side, buyers will experience lower unit costs
resulting from real-time competitive bidding and access to a larger supplier
base, and Water2Water.com will serve as a new low- cost channel with which
sellers can reach an expanded buyer base. On the trading side of the business,
participants now will be able to improve market transparency and price
discovery."

In addition, Azurix signed agreements with global
information services leader EDS and other digital marketplace software providers
that will provide technology to ensure that Water2Water.com will function as the
premier online marketplace for procurement and trading. Azurix announced earlier
this month that its trading exchange on Water2Water.com would be built on the
Ariba business-to-business eCommerce platform.

(Source: Azurix Corp.)

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