Lederer Named President of the International Partnership for Premiums and Gifts

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BRIDGEPORT, CT - August 28, 2000- Prime Resources Corporation, a Top 25 supplier in the promotional products industry, is proud to announce that its president, Bob Lederer was named president of International Partnership for Premiums and Gifts (IPPAG) during the summer meeting August 22 - 24, 2000.

Prime Resources is the exclusive North American supplier member of the International Partnership for Premiums and Gifts (IPPAG), a group comprised of 28 member companies from as many countries. The group meets several times each year in Germany, Asia and at least once a year in a specific member's country. This year the group met in New York City and Palm Beach, Florida. The purpose of the meetings is to share new product ideas, reliable vendors, successful business ideas, advertising campaigns and economic/market conditions.

Each IPPAG member has instantaneous access to a comprehensive e-database of over 5,000 factories and hundreds of thousands of products worldwide. In many situations the group shares significant cost savings of developing products and saves considerably on the group buying power of new and existing products. The IPPAG group enjoys the benefits of attending trade shows en-mass looking for products and has the immediate recognition due to the incredible buying power of the organization.

"Ultimately this helps each member company receive favorable pricing, exclusive and new product ideas, and an unparalleled International Alliance," says Jeff Lederer, Prime's vice president of business development. In many cases the members leverage each other when assistance with international importing situations is needed or when one member may have a buying relationship with a company that the others do not.

Lederer's election to a 2-year term as head of the organization was voted unanimously by the organization's members. IPPAG has a simple top-down structure. The president chairs the executive committee, which, in-turn steers the subcommittees overseeing the major projects and issues. These issues include the overseas buying office, continued group purchasing and additional product development efforts.

As chair of IPPAG's executive committee, Lederer's agenda focuses on the group's competitive advantage, overseas source consolidation, improving upon the leveraging of each international member, and providing direction to enhance the value of the group's extranet-its vital communication link with all of its vendor-sources.

Lederer explains the success of Prime over the years. "IPPAG has been extremely helpful to us because we are a part of an elite group of industry professionals but all around the world. We are from 28 countries and five continents, and we are all focused on creating innovative products. This is evidenced by our constant introduction of fresh new ideas. We are able to source not just with vendors but with the help of some of the great minds of the industry. By meeting three or more times a year, we are able to stay in the forefront of innovation."

Prime Resources Corporation is a Counselor Top 25 Supplier and a PPAI Star Award of Merit winner. Prime supplies more than 400 products through a nationwide group of independent distributor companies. Prime strives to provide the best service and product offering in the industry and is "Your E-Source for Products That Promote."