World Trade Centers Holdings To Offer TradeCard Supply Chain Solutions

World Trade Centers Holdings (Cyprus) — a member of the New York City-based World Trade Centers Association and licensee and owner of 15 World Trade Centers in Cyprus, the Middle East and North Africa — has entered into an agreement with supply chain solutions provider TradeCard Inc., New York City, whereby it will offer a customized white-label version of the TradeCard Platform to corporate buyers in the aforementioned regions. The platform is particularly suitable for customers in such industries as apparel, home furnishings and footwear, among others.

A new company, TradeCard Holdings Cyprus Ltd., will be formed as part of the agreement, and will operate under the name TradeCard MENA. The new company will supply customers with access to a hosted document management and financial settlement platform via the Internet or through integration with back office systems, enabling users to transact with TradeCard’s 3,000 buyer and seller members worldwide.

“The value that the TradeCard MENA platform brings to companies in the Middle East and North Africa as well as Cyprus is massive,” said Barry Lites, CEO, TradeCard MENA. “Globalization demands a certain level of automation. The platform achieves this in ways that internal ERP systems never could — by connecting both buyers and their suppliers in a single electronic environment, eliminating paper and providing both parties with innovative trade finance services.”

January 8, 2008