[0] Vastera Unveils TradePrism.com 3.0 at European Client Relations Event; On-line Logistics Portal Facilitates Global Trade.Business Editors/Hi-Tech Writers DULLES, Va.--(BUSINESS WIRE)--Feb. 23, 2001 Vastera (Nasdaq:VAST), the leading provider of solutions for Global Trade Management, today unveiled TradePrism.com 3.0, the latest release of its on-line portal for global trade. The company made the announcement at its European client relations event in Dublin, Ireland, where 26 representatives from 13 leading companies met to learn more about Vastera's expanded European capabilities. TradePrism.com is a public, on-line portal designed to assist companies trade more effectively around the world. The site includes process workflow, global trade execution capabilities, and regulatory trade information all available to clients on a subscription or a transaction basis. The process workflow section of the portal includes the step-by-step activities required to import and export goods. The global trade execution capabilities include landed cost calculation, restricted party screening, harmonized har·mo·nize v. har·mo·nized, har·mo·niz·ing, har·mo·niz·es v.tr. 1. To bring or come into agreement or harmony. See Synonyms at agree. 2. Music To provide harmony for (a melody). schedule look-up, and others. The regulatory trade information section provides information on the rules and regulations that govern imports and exports for over 100 countries. "TradePrism.com was designed to speed and simplify global trade," said Mark Ferrer, COO of Vastera. "We have tried to make it easy for companies to perform core, compulsory global trade activities via the Internet, while allowing them to share valuable information with their partners, ultimately speeding global shipments. For those companies wanting to drive even faster cycle times and lower costs, we offer the industry's most comprehensive suite of software solutions in TradeSphere." The TradePrism.com announcement was well received by the European client relations event attendees, including Lucent Technologies, NCR (NCR Corporation, Dayton, OH, www.ncr.com) A technology company specializing in financial terminal transactions, retail systems and data warehousing. Until the late 1990s, NCR was heavily invested in the hardware side of the industry, known worldwide as a major manufacturer of computers , Nortel, Novell, and Seagate who had come to see the latest European capabilities within Vastera's TradeSphere software solution. TradeSphere capabilities demonstrated at the event included additional country-specific regulatory support for Europe, EDI (Electronic Data Interchange) The electronic communication of business transactions, such as orders, confirmations and invoices, between organizations. Third parties provide EDI services that enable organizations with different equipment to connect. Intrastat generation, and electronic entry submission to EU customs agencies. Also included in the event were presentations by Mr. Ian Dudley of Ernst & Young and Mr. Tim Clifford of the Irish Revenue Commission. Mr. Dudley, Chairman of the Single European Authority Trial User Group, discussed the progress of the SEA project in Europe, while Mr. Clifford discussed Ireland's current Automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. Entry Processing (AEP AEP - Application Environment Profile ) system and future eCommerce plans for redeveloping/enhancing electronic connection between Irish Customs and shippers. The event concluded with Vastera clients sharing their thoughts on the most pressing issues within global trade today, and suggestions for future product development. "Nortel is excited about the prospects of continued partnership with Vastera in Europe," said Stuart Hanscomb, Nortel International Trade Manager - Europe. "Our goal is to maximize the effectiveness of our global trade operations while ensuring compliance with trade regulations. This EU-wide forum was a day well spent." In addition to its annual user conference Vastera hosts several client care events around the world to stay connected with its global client base. In addition to the event in Dublin, Ireland, Vastera will host four more similar events in cities around the world during the year. About Vastera Vastera's global trade management solutions are designed to automate To turn a set of manual steps into an operation that goes by itself. See automation. and streamline the trade functions of global e-business. Vastera's global trade management solutions include modular, web-architected applications, trade management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects and managed services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality . The foundation of these solutions is Global eContent, a comprehensive, electronic library of country-specific trade and regulatory data, which is maintained and updated daily. Vastera clients include: Ford, Alcatel, Dell, Microsoft, Sun, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. Dairy Board, Lucent Technologies and Nortel Networks (Nortel Networks Limited, Brampton, Ontario, www.nortelnetworks.com) A world leader in telecommunications products, which includes switching, wireless and broadband systems for service providers and carriers, telephones and systems for residential and business users, computer telephony . For more information, please visit www.vastera.com. This press release includes statements, which may constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Statements in this press release that are not strictly historical are "forward looking" statements which are subject to the many risks and uncertainties that exist in Vastera's operations and business environment. These risks and uncertainties may cause actual results to differ materially from the expected results and include, but are not limited to, Vastera's limited operating history, history of losses and anticipation of continued losses, potential volatility of quarterly operating results, the ability to successfully implement Vastera's expansion plans, risks related to the Internet, risks related to legal uncertainty and other risks which are set forth in more detail in Vastera's Registration Statement on Form S-1, as amended, as well as other reports and documents filed from time to time with the Securities and Exchange Commission. |
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