SciQuest Partners with Fastenal Company

RESEARCH TRIANGLE PARK, N.C., June 7, 2006 - SciQuest, Inc., a leading provider of on-demand supplier management and procurement automation solutions, announced today its partnership with Fastenal Company, the fastest growing full-line industrial distributor and the largest fastener distributor in the United States. This partnership provides Fastenal customers with SciQuest's world-class multi-vendor shopping experience designed to bring more spend under management. In return, Fastenal introduces SciQuest to new markets, including the manufacturing and industrial industries.

The two companies have a long-established history. Fastenal has been a member of SciQuest's Supplier Network (SQSN) since 1997. As such, Fastenal's products and customer-specific pricing have been enabled to the shopping platforms of many SciQuest clients, in both punch-out and hosted catalog format.

"SciQuest offers an impressive e-procurement solution that allows us to enter new markets to which we were not previously exposed, such as higher education and life sciences," said Brian Fihn, e-business sales manager for Fastenal. "By simply creating one connection to the SciQuest network, we can now process transactions with all of SciQuest's current customers."

Founded in 1967 in Winona MN, Fastenal owns and operates over 1,800 store locations in all 50 states in the US, Canada, Mexico, the Dominican Republic, Puerto Rico, and Singapore, with more locations planned. Sales are strong for Fastenal's electronically-generated business, with solid growth expected to continue over the next five years. With such a large percentage of its business conducted online, the partnership was a logical next step for Fastenal.

Fastenal now has the ability to offer its customers a consistent shopping experience across all suppliers in its network through the SciQuest e-procurement suite of solutions. Customers gain significant cost and resource savings by consolidating their spend through a single portal, providing much greater visibility as to where spend is going, how to improve, and how to reduce off-contract spend and leakage. "We can now offer a big advantage to our customers as compared to shopping at each vendor's web page where the shopping experience can very widely," said Fihn. "SciQuest allows us to provide our customers with a one-stop, one-style platform which can greatly enhance the user experience."

"Fastenal's position as a manufacturing and industrial supplier, coupled with SciQuest's unparalleled supplier enablement and procurement technologies, opens doors to new customers who can now configure and manage their ideal purchasing system," said Stephen Wiehe, president & CEO at SciQuest. "Through our relationships with channel partners such as Fastenal, SciQuest is able to broaden its customer base with opportunities in new markets in which our partners currently serve."

About SciQuest
SciQuest provides on-demand supplier enablement and procurement automation solutions that reduce operating costs, drive end-user adoption, bring more spend under management and increase visibility into organization-wide spending. Through SciQuest solutions, organizations gain immediate cost savings and rapid ROI.

Organizations can quickly enable a critical mass of suppliers through the SciQuest Supplier Network (SQSN) and leverage SciQuest Managed Services to fully manage catalog data and order delivery on an ongoing basis, significantly reducing the need for in-house IT and support resources. With an integrated supplier base, organizations can maximize on-contract spending and gain real-time visibility and reporting capabilities throughout the entire order process. In addition to a source-to-settle suite of e-procurement applications, SciQuest also offers supplier and order management modules that seamlessly integrate with existing ERP and enterprise financial systems, driving greater return from existing investments.
For more information about SciQuest, please visit www.sciquest.com, or call 919.659.2100.

About Fastenal
Fastenal was founded in 1967 in Winona, MN by company Chairman, Bob Kierlin. From this beginning, Fastenal has expanded to become the fastest growing full-line industrial distributor, and is now the largest fastener distributor in the nation. Our service-oriented business network currently includes an in-house Manufacturing Division, a product Quality Assurance and Engineering Department, a strategic system of 12 Distribution Centers in the U.S., a fleet of over 275 company-owned semi-trucks and trailers and over 1,800 Store sites. Fastenal owns and operates over 1,800 stores with locations in all 50 states, Canada, Mexico, the Dominican Republic, Puerto Rico, Singapore, Europe, and China. Each store utilizes local inventory, outside sales staff, and on-site delivery vehicles to help save you time and money. For more information, please visit www.fastenal.com.
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Media contacts:
Kristi Lee
Crossroads Public Relations for SciQuest, Inc.
(919) 844-3733 - office (919) 270-8054 - mobile
klee@crossroadspr.com

Chuck Vitello
SciQuest, Inc.
919-659-2141
cvitello@sciquest.com