GSI Commerce Provide E-Commerce Services to Three New Partners
KING OF PRUSSIA, PENNSYLVANIA, February 17, 2004 – GSI Commerce, Inc. (NASDAQ: GSIC) announced today that its majority owned subsidiary, GSI-Chelsea Solutions, LLC, has been selected by Liz Claiborne Inc. (NYSE: LIZ), The Timberland Company (NYSE: TBL) and Polo.com as the new e-commerce service provider for their e-commerce businesses.
Under these agreements, GSI will provide a variety of e-commerce services including technology, order processing, fulfillment and customer service.
Michael Rubin, Chairman and CEO of GSI Commerce, said, “We are very excited that these premier companies have chosen to work with GSI Commerce, and we look forward to participating in the continued growth of their e-commerce businesses.”
Formed in 2003, GSI-Chelsea Solutions is majority owned by GSI Commerce. Chelsea Property Group (NYSE: CPG), through its wholly owned subsidiary Chelsea Interactive, is also an equity holder in GSI-Chelsea Solutions.
About GSI Commerce
GSI Commerce is a leading outsource solution provider for e-commerce. The company develops and operates e-commerce businesses for retailers, branded manufacturers, media companies, television networks and professional sports organizations. The GSI Commerce platform includes Web site design and development, e-commerce technology, customer service, fulfillment, merchandising, content development and management, and online and database marketing.
Forward-Looking Statements
All statements made in this release other than statements of historical fact, are forward-looking statements. The words “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “plan”, “will”, “would”, “should”, “guidance”, “potential”, “continue”, “project”, “forecast”, “confident”, “prospects”, and similar expressions typically are used to identify forward-looking statements. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business of GSI Commerce and the industry and markets in which the company operates. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied by these forward-looking statements. Factors which may affect GSI Commerce’s business, financial condition and operating results include the effects of changes in the economy, consumer spending, the financial markets and the industries in which GSI Commerce operates, changes affecting the Internet and e-commerce, the ability of the company to develop and maintain relationships with strategic partners and suppliers, the ability of the company to timely and successfully develop, maintain and protect its technology and product and service offerings and execute operationally, the ability of the company to attract and retain qualified personnel, the ability of the company to successfully integrate its acquisitions of other businesses, if any, and the performance of acquired businesses. More information about potential factors that could affect GSI Commerce can be found in its most recent Form 10-K, Form 10-Q and other reports and statements filed by GSI Commerce with the Securities and Exchange Commission. GSI Commerce expressly disclaims any intent or obligation to update these forward-looking statements, except as otherwise specifically stated by GSI Commerce.
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Contact:
GSI Commerce Contact:
Stephanie Larkin
610-491-7013
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