Foster City, CA - May 9, 2011

Philip W. Steitz Joins Rearden Commerce Technical Advisory Board

Former Technology Officer at Barclaycard and American Express brings comprehensive knowledge of business-focused IT and operations to Advisory Team

Rearden Commerce, a next-generation eCommerce platform company, today announced the appointment of Philip W. Steitz to the company's Technical Advisory Board. Mr. Steitz, a technology industry veteran, has more than 20 years of experience in business management and technology — including solutions development, operations, information security, architecture, strategy and technology finance. He most recently served as Chief Information Officer for Barclaycard US, the credit card business of Barclays PLC in the United States, where he was responsible for all technology and information processing systems development and operations. He has also served as Senior Vice President and Chief Technology Officer for American Express, where he oversaw global technology standards and strategy, enterprise utilities, technology innovation and strategic technology partnerships.

"I am thrilled that Phil has agreed to join our remarkable group of Technical Advisors," said Patrick Grady, Chairman and CEO, Rearden Commerce. "His hands-on knowledge of a range of technologies and expertise in technology strategy, coupled with his genuine leadership style, promise to make him a true asset to Rearden Commerce."

"I have been following Rearden Commerce for some time, and truly believe that Patrick and the team have the building blocks in place to create a smarter web experience," said Mr. Steitz. "I am excited to be part of the team that is finally delivering on the promise of seamless, integrated and meaningfully personalized eCommerce."

During his tenure at Barclays, Mr. Steitz developed award-winning consumer credit and loyalty products, and played a central role in developing strategic partnerships and driving innovation. At American Express, Mr. Steitz led the introduction of numerous technology innovations, including mass Web personalization, standards-based identity and access management, advanced performance engineering, real-time data integration for multiple business lines and other critical functionality.

Mr. Steitz previously held various technical and management positions at Intelligroup, Entersoft Systems (now BEA systems), Financial Dynamics and Target Systems Development. He holds a doctorate in mathematics from the University of Maryland and a bachelor's degree in Philosophy from Beloit College. He has served on several other boards, including Sun Microsystems Executive Advisory Council, the Microsoft Interoperability Executive Advisory Council, the Intel Board of Advisors and the EMC Executive Council. He is a member of the Apache Software Foundation.

Mr. Steitz joins a renowned group of Technical Advisors for Rearden Commerce: Marty Abbott (former eBay CTO), Tom Keevan (former head of eBay's global technical operations), Chuck Geiger (former CTO of PayPal), Jon Bosack (called the "Father of XML" at Sun Microsystems), Dr. Robert J. Glushko (scientist, entrepreneur and author), and John Seely Brown (author and Co-Chairman of the Deloitte Center for Edge Innovation).