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SAN FRANCISCO, October 16, 2000 - Capstan Systems Inc., the innovation leader in global supply chain execution, today announced a strategic alliance with TradeCard, Inc., the on-line trade transaction network and settlement company for businesses that buy and sell around the world. Capstan and TradeCard will work to provide common customers comprehensive visibility and control of their global supply chain operations from both the fulfillment (shipping, clearance and receipt of goods) and financial management (PO negotiation, order management, landed cost, trade financing and settlement) perspectives.
"We continue to seek alliances with industry leaders such as TradeCard who will introduce innovation into global supply chain execution process," said Ron Alvarez, president and CEO of Capstan Systems. "Not only does this alliance aim to bring our customers web-native access to leading financial services and institutions, but by bringing together critical supply chain execution and settlement capabilities we plan to the top global shippers to deliver breakthrough visibility, collaboration and efficiency to their global chain."
The Capstan Network is a unique Internet Business Infrastructure offering a modular suite of web-native networked application services - landed cost, global logistics, import and export management - capable of linking everyone who manages the information, processes, regulatory compliance and workflow for the movement of goods across international borders. TradeCard is a network that enables buyers and sellers to conduct and settle paperless trade transactions securely over the Internet. Since launching in the second quarter of 2000, TradeCard has forged alliances with Global 1000 shippers and financial services providers such as MasterCard, Comerica, and Fleet Bank.
"One of the greatest challenges of global e-commerce is aligning the movement of goods and their associated documents with the international financial processes for procurement and settlement," said Kurt Cavano,chairman and CEO of TradeCard. "Capstan and TradeCard share a common vision for creating a global infrastructure to facilitate international trade. The end-to-end logistics, import and export functionality of the Capstan Network, plus the breadth of their relationships with leading global logistics services providers, make them an ideal partner in the effort to break down the walls between logistics and settlement."
About Capstan Systems
Capstan Systems delivers a breakthrough business-to-business infrastructure for Global Supply Chain Execution - the movement of goods across international borders - optimized for the new demands of an e-business world. A pioneering Internet Business Infrastructure (IBI) provider, Capstan Systems is creating a network linking all the in the global trade transaction lifecycle, enabling a valuable "network effect" for both corporate subscribers logistics services providers using the Capstan networked application services. The Capstan Network is in use at corporations worldwide, and is integrated within i2 Technologies' freightMatrix and tradeMatrix marketplaces. By providing visibility, collaboration and control over the global supply chain, Capstan companies and B2B marketplaces to get the right goods to the right place, at the right time--every time.
About TradeCard
TradeCard is a business-to-business e-commerce infrastructure that enables buyers and sellers to conduct and settle international trade transactions securely over the Internet. By aggregating buyers, sellers and disparate trade service providers, our solution automates and streamlines existing international trade transaction processes, which are complex, paper-based, time-consuming and expensive. Our objective is to provide a secure, reliable, cost-effective and easy-to-use solution for conducting and settling international trade transactions.
In addition to these core transaction features, TradeCard members can contract for pre- and post-export financing, inspection services, cargo insurance and other value-added services. TradeCard, Inc. is headquartered in New York City with U.S. offices in San Francisco, San Diego and Chicago, and Asian offices in Hong Kong and Taiwan. TradeCard can be found on the World Wide Web at http://www.tradecard.com.
