Fritz to Participate in Single European Authorization (SEA).

Business Editors

SAN FRANCISCO--(BUSINESS WIRE)--Aug. 14, 2000

Fritz Companies (NASDAQ:FRTZ) has won approval from the UK Customs and Excise Trade Policy Group to participate in Single European Authorization (SEA), an international trade prototype project for the European Union (EU).

SEA will create a mechanism that greatly simplifies trade among European states, according to Fred Schardt, Fritz's managing director of Europe. As an example, he explained, it will provide importers in Europe with an opportunity to make duty payments and control licensing and standards through one customs authority, regardless of the location in the European Union where their goods are imported.

"We appreciate the enormous challenges involved in a project of this magnitude," said Schardt. "However, we anticipate benefits for our customers by virtue of being one of the original participants in SEA. Upon completion of the prototype, we will be able to offer a full range of tested services that will result in significant cost savings for our European customers."

SEA is designed to resolve the operational requirements placed on a company operating trading offices in more than one EU member state - with attention to legal requirements of customs in all member states. A considered response to the changing needs of traders, SEA potentially offers centralized control, national tax accounting, local stock holding, and flexible exchange of stocks across the European Union - all under a single system.

"Fritz operates throughout Europe and has centralized customs brokerage processing in London for those multinational companies wishing to avail themselves of centralized processing and compliance," said David Williams, Fritz's managing director of global customs process. "The London-based Fritz bureau provides duty management of most customs regimes and allows each trader to make revenue payments on a periodic basis rather than with each transaction. With SEA, we will be able to provide a complete solution for our customers that includes duty management on their inbound traffic into multiple European Union locations," he added.

Fritz Companies is a specialist in global integrated logistics. Fritz delivers comprehensive supply chain solutions to its customers worldwide by providing flexible door-to-door transportation and materials management using sophisticated information systems. Emphasis is placed on simplifying processes and reducing overall transportation costs. The Fritz network is composed of highly trained professionals working in more than 450 locations in 115 countries.

Fritz Companies, Inc., (NASDAQ:FRTZ) global headquarters is at 706 Mission Street, San Francisco, CA 94103 USA, tel no.: 415.904.8360. Additional information is available via the Internet: www.fritz.com.