EAST RUTHERFORD, NJ, August 27, 2001, Management Dynamics, Inc., a leading provider of contract management solutions for global shippers and ocean carriers, today announced that Cosco, Inc. has licensed Management Dynamics' Rate Explorer to automate the contract, tariff and pricing activities of the firm's liner shipping companies. Under this agreement, Management Dynamics will host Rate Explorer allowing Cosco to manage their service contracts and rate tariffs internally.

"Management Dynamics has a proven Web-architected solution that gives us the capability to create and maintain calculable service contracts - eliminating the manual, laborious processes involved with text-based contracts. Using Rate Explorer also will allow us to dramatically improve our productivity and rating accuracy by removing bill-of-lading rating issues," said Howard Finkel, vice president, commercial, for Cosco. "We now also have the ability to extract valuable management information relative to our service contract rate trends."

Cosco owns and operates more than 500 merchant ships, including container vessels, bulk carriers, general cargo ships, tankers, LPG vessels, refrigerated cargo ships, timber vessels and passenger/cargo ferries, amounting to 20 million deadweight tons. Management Dynamics' Web-based Rate Explorer is a complete, function-rich solution for contract and tariff management. The solution will be used by Cosco to retrieve rates in rate tariffs and service contracts, publish and file tariffs and calculable service contracts, manage the price quotation process, and integrate with the lines' management systems for auto-rating of bookings and bills-of-lading.

"With Rate Explorer, Cosco will completely migrate from text-based service contracts to calculable service contracts. This will greatly improve their rating productivity, customer service levels, rate analysis capabilities, and ultimately, their competitiveness," said John Preuninger, President of Management Dynamics. "Cosco is among six large shipping lines that have licensed Rate Explorer this year, which has further extended our market momentum and leadership. Cosco is a well-respected leader operating in many significant trade lanes around the world, and we are pleased to be working with them."

About Cosco, Inc.
Currently, COSCO, Inc. has over 85 subsidiaries and offices throughout the American continent, including USA, Canada, Brazil, Argentina, Chile, Peru, Uruguay, Panama and China, with over 700 employees. COSCO serves a diversified set of maritime-related services, shipping agency, sales, technical consulting, bunker supplies, inland transportation, tanker, air cargo, finance, international trade, real estate, tourism and contract employment.

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