Press Releases: 01/30/2006

Odyssey Logistics & Technology Wraps Up Exceptional Year

DANBURY, Conn. – Jan. 30, 2006 –Odyssey Logistics & Technology, a provider of global transportation and logistics services for chemical and process manufacturers, today announced the conclusion of a record year of development and corporate success for the company. 2005 marked many notable achievements for the logistics service provider, including the sale of $11 million of preferred stock, the issue of a patent for the company’s integrated logistics system, a CFO appointment, and significant product developments and industry awards. Additionally, Odyssey continues to sign major customers with year over year growth in excess of 50 percent.Odyssey’s proven track record over the last three years paves the way for an even stronger financial picture moving forward. Shortly following the stock sale, Odyssey named financial industry veteran of more than 20 years, Cosmo J. Alberico, its Chief Financial Officer to support the company’s ongoing growth strategy.Signifying another major corporate milestone, in July 2005 Odyssey was granted U.S. Patent No. 6,915,268 entitled “Transport Logistics Systems and Methods” by the United States Patent and Trademark Office. The patent protects Odyssey’s proprietary transportation management technology, the Global Logistics PlatformSM, a flexible technology backbone with demonstrated abilities to manage and execute logistics across multiple modes of transportation and shippers.

“2005 proved to be an exciting year filled with corporate successes and achievements,” said Bob Shellman, CEO of Odyssey Logistics & Technology. “Protecting our intellectual capital was an important step for the future of our company. Additionally, with the added investment and CFO appointment, we are well positioned to expand our footprint as the leading transportation service provider to the chemical and process industries on a global scale.”

Additional product development highlights include the following:

Launch of International Forwarding Platform – In March, the company announced the availability of its Web-based freight-forwarding solution, the International Forwarding Platform. The forwarding platform tracks the entire forwarding process from initial export order through the final receipt of goods, invoicing and payment, providing chemical and other process manufacturers with information regarding international shipping and logistics in real-time. Manufacturers can now save time and money with increased visibility and automation, while improving collaboration among shippers, consignees and carriers via the Internet.

Tank truck services enhancements – Demonstrating additional cost saving services, in July, Odyssey announced the launch of its robust tank truck service offering. Designed for chemical manufacturers and distributors seeking to streamline logistics processes, the enhanced tank truck services include continuous movements and advanced outbound and inbound load scheduling for loading docks and liquid fill racks, leading to efficiencies and savings for all parties. Additionally, scheduled pick-up and drop off appointments for truckload and LTL enable manufacturers to streamline cargo movements, save money and maximize utilization of carriers’ equipment.

Odyssey was also recognized by the industry for its superlative global transportation and logistics services. Odyssey was selected as one of Inbound Logistics magazine’s Top 100 third-party logistics providers in August. The annual list recognized the top 3PL providers experienced in handling the just-in-time delivery challenges of manufacturers and distributors in a global environment.

Additionally, Odyssey was noted as a leading service provider in the April 2005 in-depth market study from ARC Advisory Group titled “A Strategic Guide for Logistics Service Providers: Industry Trends, Provider Profiles and Maturity Model.” In the study, ARC identifies the trend of service providers migrating from generic to industry-specific services, like Odyssey’s focus on the chemical and process manufacturing industries.

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.