National Press Release

REDWOOD CITY, Calif., July 8 /PRNewswire/ -- Pricelock, Inc., the company that combines patented technology and commodities expertise to bring price predictability to the volatile $700 billion retail fuel market, today announced that it has appointed Jim Lodestro to the position of Vice President, Worldwide Sales and Business Development.

Lodestro, a 23-year veteran of the technology industry, was formerly president and CEO of Interlace Systems, an enterprise software company that marketed planning solutions for large manufacturing organizations and was recently acquired by Oracle. Prior to Interlace Systems, he served as Executive Vice President of Worldwide Field Operations for Iteration Software. Lodestro has a strong track record in building sales teams and was an early employee at Arbor Software where he was instrumental in building the sales organization and worldwide channel strategy through the IPO and subsequent merger with Hyperion Software, which was subsequently acquired by Oracle in 2007 for $3.3 billion.

"Jim Lodestro brings the seasoned leadership skills and strategies that Pricelock needs as it expands its sales across key verticals and builds up on the success of our recently launched fuel incentive program for Hyundai," said Naveen Agarwal, Chief Operating Officer of Pricelock, Inc. "We look forward to building on his strong sales management and channel partnership background as we bring fuel-price predictability to fleets, employee recruiting and retention programs and automotive promotion programs."

Said Lodestro, "There is tremendous growth potential in bringing fuel price predictability to fleets no matter their size, especially in a time of volatility and growing international pressure on oil production and refining. Pricelock has developed the patented systems to make it easy for businesses to manage their fleet fuel costs."

Pricelock, founded in 2006, is the company behind the current Hyundai program offering $1.49/gallon gas for new car buyers. It was also behind Chrysler's "Let's Refuel America" campaign last year that generated more than 17,000 new customers for Chrysler. Pricelock combines technology, strong expertise in commodities and an online management platform to serve companies in many industries. Pricelock provides solution for fuel price predictability and helps businesses to control volatile fuel costs.

Pricelock has been responsible for more than 100 million gallons of fuel-price protection since 2008. Pricelock's consultative sales and service offerings also include a carbon-neutrality program through its Carbonlock(TM) product for fleet owners, automotive companies, and employers. A full description of Pricelock's suite of service offerings can be found at www.pricelock.com.

For more information about Pricelock's fuel-price management consulting and services, visit www.pricelock.com.

About Pricelock

Pricelock, based in Redwood City, California, is the world's first company to combine patented technology and commodities expertise to bring businesses price predictability to increasingly volatile fuel prices. The company also offers Carbonlock(TM), a unique, patented "green fleet" program that allows fleets and businesses to efficiently acquire certified carbon offsets and become carbon neutral. Pricelock can be found on the Web at www.pricelock.com.

SOURCE Pricelock, Inc.