Parmalat Finanziaria S.p.A has announced that they, along with 48 other world leading food, beverage, and consumer products companies have joined forces to create the largest business-to-business ("B2B") e-Marketplace in their industry, called Transora.com. Total funding by all participating companies exceeds US$250 million; Parmalat, one of the larger stakeholders, has invested US$6.25 million.

Transora shall constitute a new, open and integrated B2B electronic marketplace, having a common platform with shared standards from which various producers, suppliers, buyers, distributors and authorized retailers will transact and interact globally and in real time via the Internet without the need to conform the numerous standards used by the operators of the entire supply chain. Such a common platform with shared standards will allow for high cost efficiency in products and services procurement operations.

The new company will be the first of its kind to be entirely owned and financed by the consumer products industry. Its investors include some of the world's best-known traditional and consolidated companies. The 49 investing companies represent 40 percent of the global consumer products industry.

Moving at "Internet speed", the new company will roll out its first service offerings - procurement and a product catalog - in the fourth quarter of 2000, supported by pilot operations already underway.

"Parmalat's investment in Transora represents a significant and concrete step we are taking in the electronic industry," said Aldo Uva, President and CEO of Parmalat USA.

He added, "Participation in the project fits within the company's innovative strategy focusing on internationalization based on the consolidation of its leadership, particularly, amid a converging process between old and new economy within the rapid development of market globalization."

As the leader in the global dairy market, Parmalat is also leading the industry in the development of a number of special, functional milks that satisfy people with a range of different nutritional needs. Parmalat recently introduced three new products, Milk-E, Lactose Free Plus and Skim Plus to meet the needs of today's fast-paced, health-conscious and consumer savvy population. "Our products must deliver convenience, health and taste solutions in one feel swoop," said Uva. "Parmalat's products are designed with the needs of the high-end, high-tech consumer in mind. We bring a unique range of choice to the lives of modern-day milk drinkers."

The New York office of BBLP Pavia and Ansaldo assisted Parmalat in the implementation of the Transora project.

Parmalat USA, headquartered in Wallington, New Jersey, is an innovative food and beverage leader. As the leading fresh milk producer in the Northeast and parts of the Southeast, Parmalat also dominates the ultra-pasteurized milk segment with more than 75 percent of the market under this brand name. Parmalat offers the benefits of milk in a convenient, portable and delicious way. Throughout the U.S. Parmalat products are sold under strong regional brand names such as Farmland Dairies, Welsh Farms, Sunnydale, Clinton, Atlanta Dairies and Kinnett. In 1999 Parmalat USA served up projected sales of $650 million. Its parent company is Parmalat Finanziaria S.p.A., the $6 billion global company founded in 1961 in Parma, Italy by creative entrepreneur, Calisto Tanzi. For additional information call 1-888-PARMALAT (1-888-727-6252) or visit the Web site at: www.parmalatusa.com.