Modiano Australia Shears Transportation Costs with INTTRA; Exporter selects INTTRA as its global freight services portal of choice.

Business Editors

HONG KONG, London, & MELBOURNE--(BUSINESS WIRE)--May 21, 2002

INTTRA (www.inttra.com), the leading provider of business-to-business ocean freight services, today announced that Modiano Australia Pty. Ltd. (www.gmodiano.com) has named INTTRA its worldwide ocean freight services portal of choice.

One of Australia's Top 200 Agribusiness Companies and a major wool exporter, Modiano is using INTTRA-ACT to streamline the ocean transportation services that it offers to its global customers. INTTRA-ACT is a B2B Web-hosted portal solution that standardizes and supports door-to-door ocean transport services for customers that book with one or more carriers.

INTTRA is backed by a group of the world's leading carriers and logistics providers.

Chris Goodwill, Shipping Manager of Modiano said, "We selected INTTRA because its on-line ocean transportation services enable us to better serve our global customers while gaining efficiencies throughout our organization. We believe that our ground-floor relationship with INTTRA will enable us to grow our business along with the industry's leading ocean transportation portal. Since using INTTRA-ACT, we've introduced a discipline of having written confirmation and standardized processes for every booking we make. Plus, being able to place bookings with our ocean carriers in a standardized manner has vastly improved our internal effectiveness. The next phase of implementation will include electronic logging of forwarding instructions and automating the bill of lading. We see INTTRA as the complete solution for all our ocean transportation management needs."

The INTTRA portal contributes to the overall movement of goods by creating a single platform for efficiently communicating bookings and allowing the visibility of shipments instantly, improving the time between booking and shipping.

Paul Stephen, General Manager Asia Pacific INTTRA said, "Modiano is a world-class, forward looking exporter with a far reaching view of technology and its future in the ocean transportation industry, serving as an example of the progressive approach to electronic commerce in the Australian export market. We are pleased to have its endorsement as the ocean freight services portal of choice, and look forward to a continued mutually successful relationship."

INTTRA provides portal connectivity to shippers and logistics providers, and is the leading portal for containerized ocean freight services. With more than 1,450 registered companies in over 90 countries, INTTRA has managed in excess of 280,000 bookings and 2.2 million container events since its inception.

Presently, INTTRA is backed by 15 carriers and logistics providers that collectively serve approximately 46 percent of the ocean-going cargo transportation market.

About Modiano

Modiano is ranked among the top 1,000 companies in Australia, and is part of a global group of wool buyers and exporters, supplying wool tops as well as greasy and scoured wool. Australia is the main source for Modiano's raw greasy wool supply.

With global headquarters in London, the company houses its Australia head office in Melbourne, with additional offices in Sydney, Fremantle, Christchurch, Biella, Istanbul, Port Elizabeth, Nejdek, and Shanghai. Trade inquiries for Modiano may be directed via fax to Bill Costin at [phone] in London.

About INTTRA

Incorporated in January 2001 and financially sponsored by a group of leading global carriers and logistics providers (CMA CGM, Hamburg Sud, 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.

INTTRA,INTTRA-ACT and INTTRA-LINK are trademarks or registered trademarks, service marks or registered service marks of INTTRA. All other product and company names mentioned herein may be trademarks of their respective holders.