FreeMarkets, Inc. (Nasdaq:FMKT), the leading B2B eMarketplace, today announced that it has signed an agreement with the Dana Corporation (NYSE:DCN), a global supplier to automotive manufacturers.

Under the terms of the agreement, FreeMarkets will provide Dana with access to its B2B eMarketplace, which Dana will use as a platform to purchase goods and services for its operations around the world.

"As a major provider to global automotive manufacturers with high standards for quality, it is critical that Dana make effective and efficient purchases of the direct materials that go into our products, as well as the indirect materials and services that fuel our operations," said Doug Grimm, director, global strategic sourcing, Dana. "FreeMarkets has a proven track record of delivering savings and reductions in sourcing process time to large purchasing organizations, and we look forward to leveraging their technology platform, sourcing information and services to benefit our operations and our customers."

"Dana is a world-class Tier One automotive supplier that is undertaking bold e-commerce initiatives that will enhance their ability to deliver the quality products they have become known for," said Kent Parker, vice president and general manager of automotive business at FreeMarkets. "We are pleased that they have chosen our B2B eMarketplace as a platform for sourcing, and we look forward to working with them to create savings and efficiencies that will benefit Dana's operations and customers."

About Dana Corporation

Dana Corporation is one of the world's largest independent suppliers to vehicle manufacturers and the aftermarket. Founded in 1904 and based in Toledo, Ohio, the company operates 330 major facilities in 32 countries and employs more than 84,000 people. In 1999, Dana reported sales of $13.2 billion. More information can be found on their website at

About FreeMarkets

FreeMarkets is the leading B2B eMarketplace. FreeMarkets combines its industry-leading technology platform with unparalleled sourcing information and world-class services to deliver huge savings to customers. FreeMarkets has executed over 5,000 online auctions for more than $7.6 billion worth of goods and services to date, and created estimated savings of nearly $1.5 billion for its customers. The FreeMarkets B2B eMarketplace enables buying organizations to source products from more than 130 supply verticals. More than 5,600 suppliers from over 50 countries have participated in the FreeMarkets B2B eMarketplace. The Company also operates FreeMarkets Asset Exchange, the world's leading B2B eMarketplace for surplus assets and inventory. FreeMarkets can be found on the Web at FreeMarkets is a registered trademark of FreeMarkets, Inc.