Transplace.com Announces Merger Completion and Executive Management Team

Business Wire, Oct 10, 2000

Business Editors

PLANO, Texas--(BUSINESS WIRE)--Oct. 9, 2000

Transplace.com announces today the successful completion of its first quarter of operations since July 1, 2000. As previously announced, Transplace.com is a merger of the logistics business units from six of the nation's largest transportation companies - Covenant Transport, Inc. (NASDAQ: CVTI); J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT); M.S. Carriers, Inc. (NASDAQ: MSCA); Swift Transportation Company, Inc. (NASDAQ: SWFT).; U.S. Xpress Enterprises, Inc. (NASDAQ: XPRSA) and Werner Enterprises, Inc. (NASDAQ: WERN). Transplace.com offers a web-enabled platform to bring together shippers and carriers worldwide to collaborate on their transportation logistics planning and execution in the most efficient and effective manner. It also provides e-Procurement services to subscribing carriers to lower their operating costs by leveraging large volume purchasing power for items such as fuel, equipment, maintenance and repair parts, insurance, and other products and services.

Currently, with approximately 550 employees, Transplace.com represent over $700 million in annual revenue. It also has filled its key executive management positions as follows:

Jun-Sheng Li is Chairman, President, and Chief Executive Officer of Transplace.com. Prior to founding Transplace.com, Dr. Li held various executive management positions at J.B. Hunt Transport Services, including Executive Vice President of Integrated Solutions and President of J.B. Hunt Logistics. He is the former Vice President of Logistics Engineering for Schneider Logistics and the former Director of Operations Research for CAPS Logistics. He earned his Masters and Ph.D. degrees in Industrial and Systems Engineering from Georgia Institute of Technology.

Ellis L. McKinley, Jr. is the Chief Financial Officer for Transplace.com. Prior to joining Transplace.com, Mr. McKinley was Chief Financial Officer, Treasurer, and member of the Board of Directors of Kevco, Inc. Prior to Kevco, Mr. McKinley was the Chief Financial Officer and Treasurer of Renters Choice, Inc. (now Rent-a-Center). Before Renters, Mr. McKinley was a partner in the Dallas office of Grant Thornton. He is a graduate of the University of Texas at Austin and a Certified Public Accountant.

David P. Haeusler is Chief Information Officer for Transplace.com. David comes from Texas Instruments where he successfully ran their eCommerce Systems group. Prior to TI, he managed the Global Software Services Department for Turner Broadcasting. In addition, David has managed information systems groups at two start-ups, British Telecom's Syncordia (now known as Concert) and U.S. Sprint. A Marine Corps veteran, he holds a Masters degree in Systems Management from Naval Postgraduate School in Monterey, California.

Frank Armstrong is Executive Vice President of Logistics Services for Transplace.com. In his role, Mr. Armstrong has overall responsibility for all logistics management services. His background includes service in the Navy Supply Corps, motor carrier senior management, and third-party logistics services management. He was formerly with Schneider National, Burlington Motor Carriers, and J.B. Hunt Logistics. Mr. Armstrong received his undergraduate degree from Oklahoma State University and an MBA from Tulane University.

Michael Ellenburg is Executive Vice President of Procurement Services for Transplace.com. Prior to joining Transplace.com, Mr. Ellenburg spent four years at Delta Air Lines where he served as Vice President of Corporate Purchasing and earlier as Vice President Aircraft Maintenance and Engineering. Prior to joining Delta Air Lines, Mike was the Director of Purchasing, Maintenance, and Engineering for American Airlines. Mike holds a BS degree in Logistics from Weber State University and an MS degree in Logistics from West Coast University.

For additional information on Transplace.com, please visit its website at www.transplace.com.