press releases

buySAFE and ChannelAdvisor Announce Exclusive Partnership to Protect Online Auction Transactions

Partnership Provides Sellers with Innovative Solution that Eliminates Buyers' Greatest Risks and Concerns

Research Triangle Park, NC and Alexandria, VA - June 24, 2004 - ChannelAdvisor Corporation, the leading provider of small business and online marketplace management solutions, and buySAFE, which offers one of the highest levels of protection from online auction risks through the buySAFE with The Hartford program, today announced the companies have formed an exclusive partnership. The partnership enables ChannelAdvisor sellers, approved by buySAFE, to conveniently post the buySAFE Seal to auction listings, and to financially protect these transactions with surety bonds from The Hartford Financial Services Group Inc. (NYSE: HIG). The agreement includes both co-marketing and software integration.
buySAFE with The Hartford is the only program that enables approved sellers to present a credibility seal on their online auction listings and provides surety bonds, which financially protect the seller's performance on behalf of buyers. buySAFE performs a rigorous qualification check on sellers and issues the buySAFE Seal only to the most reputable, trustworthy online merchants. The Hartford underwrites and issues the surety bonds, which provide that The Hartford will refund the item's sale price or replace the item in the event that a bonded seller does not fulfill the terms of the sale. This program protects consumers from certain online transaction risks such as fraud, misrepresentation, refund failure and seller default.

ChannelAdvisor is the first auction management software company to enable its sellers to protect their online auction transactions by using buySAFE with The Hartford. As fraud and misrepresentation are continuing to grow in the auction marketplace, many sellers are seeking tools to help establish their credibility and verify their identity. This partnership enables approved ChannelAdvisor sellers to have a distinct advantage over other sellers in the market, as the buySAFE Seal informs buyers that they are dealing with a reputable and trustworthy seller, and the bond financially protects buyers in the instance the seller did not meet the terms of the sale. This means sellers can experience an increased amount of bids and higher bid prices while buyers can shop with greater confidence.

"We spent a lot of time evaluating online marketplace providers, and we felt ChannelAdvisor best matched buySAFE's innovative offerings," says Jeff Grass, CEO, buySAFE. "The scalability and ease of use of ChannelAdvisor's auction management software combined with the protection of buySAFE with The Hartford offers online auction participants the most powerful solution available to be successful in the auction marketplace. Our goal with this agreement is to offer ChannelAdvisor customers a competitive edge when selling online."

"We partnered with buySAFE to make it easy for our sellers to protect their transactions. Sellers whose transactions are bonded by a reputable company enjoy the distinct competitive advantage of increased buyer confidence, which translates into more bids, higher prices and greater profitability," says Scot Wingo, CEO and President of ChannelAdvisor. "This new feature is one more way our sellers can stay ahead of their competition and grow their businesses to the next level."

about buySAFE

buySAFE makes online marketplaces safer, resulting in reduced risks for buyers and increased profit opportunities for sellers. buySAFE with The Hartford is the first and only service to guarantee online transactions for buyers by using surety bonds to provide protection from risks, such as fraud, misrepresentation, refund failure and seller default. Using the latest advances in business assessment techniques and technologies, buySAFE comprehensively qualifies online sellers and provides the buySAFE Seal to approved sellers for display on their auction listings, which informs buyers that they are dealing with a reputable and trustworthy seller. Approved sellers can guarantee their online transactions with surety bonds issued by The Hartford Financial Services Group, Inc. Headquartered in Alexandria, Va., buySAFE is on the Web at www.buysafe.com.

about ChannelAdvisor Corporation

ChannelAdvisor provides technology and services that enable industry-leading companies, small businesses and individuals to use online marketplaces to acquire customers and maximize inventory yield throughout the product lifecycle. Our solutions combine best practices, innovative software applications and integration technology to dramatically accelerate marketplace performance. ChannelAdvisor's clients and strategic alliances include IBM, Dell, Sears, Motorola, eBay, Yahoo! and Amazon. ChannelAdvisor Corporation is headquartered in Research Triangle Park, NC. For more information, visit http://www.channeladvisor.com.

about The Hartford

The Hartford is one of the nation's largest investment and insurance companies, with 2003 revenues of $18.7 billion. The company is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property-casualty insurance. The Hartford's Internet address is http://www.thehartford.com.

Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2003 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.

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