Press Releases: 01/23/2006

Global Transportation and Logistics Services Leader Expands to Reflect Company Growth; Company will Bring 300 New Jobs to Burgeoning City

DANBURY, Conn. and CHARLOTTE, N.C. – Jan. 23, 2006 –Odyssey Logistics & Technology, a provider of global transportation and logistics services for chemical and process manufacturers, today announced the establishment of its North American Service Center in Charlotte, North Carolina to support company growth. On the heels of a banner year, Odyssey is expanding its operations and has selected Charlotte as its Service Center for the quality and diversity of its labor pool, and the affordable cost of living for employees.With numerous client contracts and industry accolades, Odyssey continues to demonstrate the advantage of its business model. As part of the company’s planned expansion, and in addition to corporate headquarters in Danbury, Connecticut and facilities worldwide, Odyssey is building upon its existing shipment management center in Charlotte. This service center will provide a focal hub for Odyssey’s transportation management and operations, logistics services, hosted infrastructure, project management and professional services.”The accessible location, high-caliber pool of technology-focused professionals, and support from the Charlotte Chamber of Commerce, County of Mecklenburg and State of North Carolina made Charlotte an ideal city in which to establish our customer care and operations headquarters,” said Bob Shellman, CEO of Odyssey Logistics & Technology. “As we’ve experienced a year of tremendous growth, this move demonstrates the next step in a continued expansion throughout North America and to Europe and the Asian Markets. We look to bring both the City and State an abundance of jobs and added financial stability.”

According to statistics released in December 2005 by the U.S. Census Bureau, North Carolina’s population has increased by more than 142,000 during the past year, tying it with Texas and Georgia as the fifth-fastest growing state in the country. The booming region of 2.3 million people located in North and South Carolina offers a skilled labor force in both rural and urban settings, providing an ideal fit for Odyssey’s North American Service Center.

Odyssey executives have worked hand-in-hand with the Charlotte Chamber of Commerce to develop the planned expansion. Already with a foothold in the region, Odyssey looks to build out its existing 21,000 square feet property. The addition would include an investment of more than $2 million in capital improvements to the space with an option to lease an additional floor, as needed. Further, the company looks to create approximately 300 new jobs over the next five years and provide on-the-job and extra-curricular training and educational credits focused on logistics management.

“We are pleased that Odyssey has chosen to bring 300 new jobs to Charlotte and to make a significant investment in our community,” said Bob Morgan, Charlotte Chamber President. “Such a major expansion is a testament to our region’s competitive business environment.”

The transportation landscape of Charlotte provided additional incentive and supports Odyssey’s fundamental business needs. Easily reached and business friendly, Charlotte is connected with a 78,000 mile highway network with six interstates, numerous rail service carriers with more than 4,000 railroad route miles and close proximity to deep-water ports.

Odyssey’s global logistics and transportation services help chemical and other process manufacturers manage all aspects of the transportation of raw materials and finished goods throughout the supply chain. Supporting multiple methods of transportation including rail, ocean, barge and tanker transport, Odyssey delivers to its customers reduced transportation and infrastructure costs, measurable customer service and process improvements, and enhanced data quality and management.

About Odyssey Logistics & Technology
Odyssey Logistics & Technology provides global logistics management services to the chemical industry and other process manufacturers. Odyssey enables its customers to outsource any part of the management and transportation of their raw materials and finished goods, helping these companies save money through reduced transportation and infrastructure costs, measurable customer service and process improvements, and enhanced data quality and management. The Odyssey team of chemical engineers and logisticians brings unparalleled expertise to the logistics supply chain in all modes of transport. The Odyssey Global Logistics Platform is a transportation management infrastructure that serves as the technology backbone to its service offering. Odyssey International is a licensed export freight forwarder and wholly owned subsidiary of Odyssey Logistics & Technology, managing exports to more than 80 countries. The company is backed by investors Trident Capital, LogiSpring, Boston Millennia Partners, CMEA Ventures and RRE Ventures.

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