United Arab Shipping Company Takes Stock in INTTRA

January 29, 2002

INTTRA's B2B ocean transportation network adds Middle East's largest carrier to list of marquee investors

Parsippany, New Jersey and Shuwaikh, Kuwait - January 29, 2002 - INTTRA (www.inttra.com), the leading provider of B2B ocean freight services, announced today that United Arab Shipping Company (UASC) has joined the growing list of marquee investors that have entered into a long term financial commitment to this fast growing portal. The national line of the Arabian Gulf states, UASC (www.uasc.com.kw) joins other investors, including CMA-CGM, Hamburg Süd, Hapag-Lloyd, Kuehne & Nagel International AG, Maersk Sealand, MSC Mediterranean Shipping Company S.A., and P&O Nedlloyd, which have collectively backed INTTRA. UASC is the largest ocean carrier for dry cargo to the Middle East, offering more services to the Arabian Gulf / Red Sea regions from the world-wide trading areas than any other single shipping line. The amount of UASC's investment in INTTRA is undisclosed.

Abdulla Mady Al-Mady, President and Chief Executive Officer of UASC said, "Believing that INTTRA offers the premier portal for containerized ocean transportation, we joined its network a few months ago to provide our customers with a view of both regional and global shipments from one portal. After experiencing INTTRA's operating principles that ensure data security and confidentiality, and after seeing how INTTRA's functionality creates efficiencies for both carriers and shippers, we decided to take the next step and make a financial commitment to INTTRA. Our due diligence extended over several months, and in this process we remain extremely impressed with INTTRA's products, development team, market momentum, and management. We are proud to join other leading global carriers and logistics providers with this investment, and endorse INTTRA as the only industry-backed portal that facilitates global visibility, standardized communications, and improved responsiveness for ocean-going containers."

Headquartered in Shuwaikh, Kuwait, UASC joined INTTRA's non-exclusive global network of carriers and logistics providers in November 2001. INTTRA's Web-based portal enables shippers, freight forwarders, third party logistics providers, brokers, importers and industry portals to manage the booking and tracking of cargo across multiple shipping lines in a single integrated process.

INTTRA provides its portal software to shippers and logistics providers at no charge and is the leading portal for containerized ocean freight services. INTTRA now has more than 750 registered companies and 2,200 registered users in more than 50 countries around the world. INTTRA has managed more than 82,000 bookings and 1.2 million container events.

About INTTRA
Incorporated in January 2001 and financially sponsored by a group of leading global carriers and logistics providers ( CMA CGM, Hamburg Süd, Hapag-Lloyd, Kuehne & Nagel International AG, Maersk Sealand, MSC Mediterranean Shipping Company S.A., P&O Nedlloyd, and United Arab Shipping Company), INTTRA's mission is to drive efficiencies into the ocean transportation industry by streamlining and standardizing traditionally inefficient processes. INTTRA enables shippers, freight forwarders, third party logistics providers, brokers, importers, and industry portals to manage the booking and tracking of cargo across multiple shipping lines in a single integrated process. With headquarters in Parsippany, NJ U.S.A., and offices in Copenhagen, Denmark, and Hong Kong, China, INTTRA's Web-based portal meets today's demand for simplicity, transparency, neutrality, and confidentiality across the global supply chain, and is designed to deliver connectivity by establishing global shipping standards.