CargoSmart and Management Dynamics Join Forces to Offer Advanced Contract Management Solutions to Customers

Business Wire, Jan 21, 2003

Business Editors

EAST RUTHERFORD, N.J. & SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 21, 2003

CargoSmart Markets Management Dynamics' Rate Explorer to Its Member

Shippers and Transportation Intermediaries

Management Dynamics, Inc. (www.mgmtdynamics.com), the market leader in full-function tariff and service contract management solutions for the ocean transportation industry, and CargoSmart Limited (www.cargosmart.com), the leading portal for the container transportation industry, today announced that they have formed an alliance to market Rate Explorer(TM) to CargoSmart's member shippers and transportation intermediaries.

The alliance allows CargoSmart to extend its product offerings to include contract management to meet customers' transportation management needs, regardless of the portal affiliation of their contracted carriers.

Steve Siu, chief executive officer of CargoSmart said, "There is a tremendous need among shippers to have a proven, reliable tool that will help them manage and simplify their contract management process. In an ongoing effort to provide our ocean freight customers with the latest technology to meet this need, we found that Management Dynamics offers the most fully-functional solution in the market with complete, calculable rates and over nine years of contract management solution expertise."

Jim Preuninger, chief executive officer of Management Dynamics, said, "With over 7,700 active users, CargoSmart is setting the standard for the industry." He continued, "CargoSmart is extremely adept at staying ahead of the technology curve and is widely recognized in the industry for the quality of its application services, service levels, and depth of domain expertise. We are honored that they have chosen to work with us."

Entering the spring contract season, Rate Explorer will be an effective way for global shippers and transportation intermediaries to manage their contracts by addressing the following challenges:

-- Multiple-carrier service contracts and rate agreements

-- Complex rate structures

-- Issues with over-billing and the need to streamline their auditing process

-- Need to share contract and amendment information with parties worldwide

Rate Explorer equips customers to accurately and efficiently manage service contracts in a calculable format. In this way, customers can eliminate rating errors and improve productivity by calculating freight charges, maintaining rate histories, and auto-rating bookings and shipment instructions.

Rate Explorer is offered to shippers and transportation intermediaries as a Web-based service that is hosted by Management Dynamics.

About CargoSmart

CargoSmart (www.cargosmart.com), with offices in San Jose, New York, Toronto, Bremen, and Hong Kong, is one of the most advanced portals for the container transportation industry. Customers use CargoSmart's open software platform to help manage their shipments with multiple carriers and to share information with their shipping associates online.

CargoSmart's online management services include Sailing Schedule, Shipping Instructions, Bill of Lading Document Manager, Booking, Cargo Tracking, Rail Tracing, E-mail Notifications, Exception Alerts, Customized Reports, Shipment Detail, and Relationship Manager.

CargoSmart launched its portal on October 11, 2000, and it has quickly become the customer-preferred choice, adopted by over 7,700 customers who use the portal regularly to effectively manage their shipment execution needs.

About Management Dynamics, Inc.

Headquartered in East Rutherford, New Jersey, Management Dynamics, Inc. is the market leader in full-function tariff and contract management solutions for the ocean transportation industry.

The company's flagship product, Rate Explorer(TM), is a Web-based solution that automates service contracts while providing carriers, transportation intermediaries and shippers with increased efficiencies. With over 6,000 users globally, Management Dynamics continues to build on its lead in the industry. For more information, please call (201) 935-8588 or visit www.mgmtdynamics.com.

Management Dynamics, Inc. and Rate Explorer are trademarks or registered trademarks, service marks or registered service marks of Management Dynamics Inc. All other product and company names mentioned herein may be trademarks of their respective holders.