The Receivables Exchange Selected as One of ‘2008 Innovators of the Year’

The Receivables Exchange (www.receivablesXchange.com), the world’s first online marketplace for real-time trading of accounts receivable, today announced that they were selected as one of New Orleans City Business’ 2008 “Innovators of the Year.” The award recipients were announced at a luncheon on September 26 in New Orleans with Nic Perkin, President of The Receivables Exchange, on hand to accept the award. The nomination recognizes those companies who are initiating and cultivating the spirit of creativity that will play a large role in the future of the national marketplace and specifically in New Orleans.

“We are very pleased to have been recognized as a part of the entrepreneurial rebirth and revitalization that is taking place in New Orleans,” said Mr. Perkin. “This city encompasses a wealth of creative talent and potential. We look forward to participating in the innovation and progress that the Crescent City is poised to experience in the upcoming years.”

The Receivables Exchange, through its proprietary online marketplace, will connect a global network of accredited investors with millions of growth-oriented small and mid-sized businesses (Sellers) in search of a more competitive cost of capital. Currently, accounts receivable represents nearly 60% of working capital for most businesses - the single largest source of working capital for most companies. By being able to list their receivables to be bid on in real-time by multiple Buyers, Sellers on the Exchange are able to unlock the value of their invoices and reinvest that capital into growth. Through the Exchange’s innovative real-time auction platform, Buyers are able to gain direct access to more than $18 trillion of annual business-to-business accounts receivable volume.