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April 11, 2000

Alliant Exchange Acquires The Drescher Corporation

(COMPANY PRESS RELEASE) Alliant Exchange, Inc. has acquired The Drescher Corporation and its Dex Transportation subsidiary as the centerpiece of its new, high-return Advanced Distribution Network (ADN). Terms were not disclosed.

By CBR Staff Writer

Drescher, a 120-year-old distribution company based in Syracuse, N.Y.,

serves more than 2,000 foodservice distributors from warehouses in Syracuse

and in Las Vegas, Nev. Additional facilities are planned. The Drescher

Corporation will continue under its current management and existing name.

Drescher is one of the most respected names in the distribution business,

with a reputation for quality, speed and reliability, said Earl L. Mason,

president and chief executive officer of Alliant Exchange. Drescher’s

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professionalism, established customer base and efficiency give our Advanced

Distribution Network a strong foundation for profitable growth.

We believe that the Alliant Exchange business model is among the most

innovative in business-to-business e-commerce, said W. J. Drescher, Jr.,

Drescher’s president and chief executive officer. The fit between Drescher

and Alliant Exchange is outstanding, and we are delighted by this new

partnership and the opportunities it provides for our customers and our


As part of the Advanced Distribution Network, Drescher’s warehouses

will serve as regional hubs for the product lines of strategic vendors

while continuing to expand its existing predistribution business. The hub

system will reduce administrative and distribution costs for participating

suppliers, permit just-in-time replenishment of traditional foodservice

distribution warehouses and permit Alliant Exchange, through its e-commerce

company —, Inc. — to offer special advertising and

promotional opportunities to its members and customers.

Simply put, this creates a win-win-win situation for all members of The

Alliant Exchange, Mason said. It establishes Alliant Exchange as the most

innovative player in foodservice and business-to-business e-commerce.

Joining W.J. Drescher, Jr. in Drescher’s management team will be Peter H.

Drescher, Paul A. Drescher and John M. Drescher.

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