Press Releases: 09/08/2003

Odyssey Logistics & Technology Poised for Expansion; Completes $24.3 Million Private Equity Offering

DANBURY, Conn. – Sept. 8, 2003 – Odyssey Logistics & Technology Corporation, a provider of outsourced transportation and logistics services to process manufacturers, announced today that it has completed the initial closing of a $24.3 million preferred stock offering. Trident Capital led the investment with Boston Millennia Partners, CMEA Ventures and RRE Ventures joining and CIBC World Markets acted as agent. Odyssey also announced that it has completed its acquisition of Nordstrom Freighting, a freight-forwarding company based in Connecticut.

Odyssey continues its expansion as a transportation and logistics management service provider for process manufacturers and the chemical industry. The success of this equity sale is a testament to Odyssey’s value proposition: Depth of logistics expertise, breadth of Odyssey’s Net-native technology platform, and the management team’s unparalleled knowledge of the needs of process industries. The company will use the funding to continue its investment in technology assets and to support both organic growth and expansion through acquisition of best-of-breed logistics and supply chain service providers.

“We are very excited about our investment in Odyssey Logistics & Technology,” said Venetia Kontogouris, managing director at Trident Capital. “We believe that the management team’s depth of experience and the company’s multi-modal transportation capability, facilitated by best-in-class technology, will deliver unparalleled benefits to Odyssey’s current and future clients.”

Jim Watson, general partner at CMEA Ventures, has cultivated his expertise in technology, logistics and supply chain strategy over almost 30 years as an innovator, service provider and now an investor.

“Odyssey’s capability to service its customers on a global basis is a significant advantage,” said Watson. “As a single provider offering the full array of logistics services across all modes of transportation, Odyssey’s leading technology is a true differentiator, providing customers with a single point of connectivity for enterprise applications, such as enterprise resource planning and supply chain management, while giving them full visibility and access to data across their entire supply chain.”

“Odyssey selected these investors because of their capabilities beyond simply providing capital,” said Robert Shellman, CEO of Odyssey. “This group brings significant market knowledge and experience in facilitating corporate growth in our market space, including total capital under management of more than $3 billion. Their investment validates our approach to the market and will prove to be an invaluable resource as we continue to grow.”

The Nordstrom Freighting acquisition provides Odyssey’s customers with a more complete end-to-end solution and a proven and trusted partner in freight-forwarding. Nordstrom has been integrated into Odyssey International, Inc., a wholly owned subsidiary of Odyssey Logistics & Technology. Richard Nordstrom, president of Nordstrom Freighting, and Vincent Calandra, vice president, will continue to provide leadership within Odyssey International, and all employees have joined the company.

About Trident Capital
Trident Capital is a leading venture capital firm with over $1.2 billion of capital under management, including $519 million in its most recent fund, Fund V. Trident has invested in over 100 companies since its inception in 1993. The firm invests in information services and software companies with a focus on business outsourcing, financial services, security, marketing services and infrastructure software. Trident is an active investor across multiple stages, with experience in traditional venture capital growth financing as well as in management buyouts, spin-outs and roll-ups. Past successes include American Cellular, CSG Systems, Pegasus Solutions, Mapquest, Montpelier Re and Vality Technology. The firm has offices in Palo Alto, CA; Lake Forest, IL; Los Angeles, CA; and Westport, CT.

About Boston Millennia Partners
Boston Millennia Partners is a private equity investment partnership managing over $700 million in capital. From its office in Boston, Millennia invests in high-growth businesses in the information technology, telecommunications, and healthcare and life sciences industries. Typical investments range from $3 to $15 million. The managers at Millennia have funded over 120 companies in the U.S. private equity market since 1980. Portfolio companies with whom they have invested include Verio (NASDAQ: VRIO), HotJobs/Yahoo (NASDAQ: YHOO), PAREXEL International (NASDAQ: PRXL), ILEX Oncology (NASDAQ: ILXO), and Proteome/Incyte Genomics (NASDAQ:INCY) among others.

About CMEA Ventures
CMEA Ventures is a San Francisco-based venture capital firm that was established in 1989 and specializes in high technology and life sciences investments. CMEA invests in both early and late stage companies, and actively partners with its extended network of companies, other VC firms, institutional investors, strategic partners as well as entrepreneurs. CMEA was originally formed as an affiliate of New Enterprise Associates (NEA) in 1989 and became independent in 1997. CMEA currently has five funds and manages one half billion dollars of venture capital. The firm has been an early stage investor in leading Silicon Valley companies such as Flextronics (FLEX), Magma (LAVA), Silicon Spice (BRCM) and Symyx (SMMX). CMEA Ventures’ portfolio includes Alexza, Applied Wave Research, Codexis, Inovys, Syrrx and Teros (fka Stratum8), among others.

About RRE Ventures
RRE Ventures, a New York-based venture capital firm, was founded in 1994 by Jim Robinson III, Jim Robinson IV and Stuart Ellman. RRE invests in entrepreneurial information technology companies, placing special emphasis on software, communications and related enterprises that can become industry leaders in rapidly growing markets. With over $600 million under management, RRE combines significant capital resources with managerial, financial and technical experience and corporate contacts to create value for its portfolio companies. The firm leverages these assets to establish business and financial relationships, provide strategic direction and develop both domestic and international sales and marketing opportunities. RRE has helped build over sixty companies, including WatchGuard (WGRD), Vastera (VAST), Concur (CNQR), Ember, MontaVista, ReefEdge and Vocera. For more information see

About Odyssey Logistics & Technology
Odyssey Logistics & Technology provides outsourced logistics management services to the chemical industry and other process manufacturers. Odyssey allows these companies to outsource any part of the management and transportation of their raw materials and finished goods, helping its customers achieve cost savings through reduced transportation and infrastructure costs, measurable customer service and process improvements, and enhanced data quality and management. With a management team averaging more than 25 years of experience as chemical engineers and transportation and logistics professionals in all relevant modes of transportation, Odyssey is a trusted, reliable partner that combines supply chain and logistics expertise, technology innovations and proven outsourcing methodologies to help process manufacturers achieve significant savings. For more information, visit on the Web.

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