Press Release 02/07/2002

ULYSSES SYSTEMS AND SHIPSERV FORM STRATEGIC ALLIANCE

LIVONIA 02 July 2002: To provide customers with an integrated software package that allows a simplified yet more effective e-procurement process, ShipServ and Ulysses Systems, Inc. have agreed to formally integrate and jointly market their maritime software packages to companies that wish to extend their in-house enterprise management systems to seamlessly conduct automated transactions via the world's leading maritime procurement network.

The advanced knowledge management and organisational features of Ulysses Systems coupled with ShipServ's Ship Supply Management software offers customers substantial cost and time savings compared to the traditional procurement process.

Ulysses Systems' award-winning Task Assistant' software offers a suite of applications including Planned Maintenance, Purchasing, Crewing, and Quality & Safety, which facilitate effective collaboration between the vessel and the management office, and reduce the burden of administration on shipboard staff. Task Assistant is favoured by users since it requires very little training and is designed to work within the existing framework of an organisation - providing users with exactly the information they want at exactly the time they need it.

Integration with ShipServ will enable Ulysses' clients to send the Requests for Quote or orders across ShipServ TradeNet and receive quotes and order confirmations back, all within Task Assistant.

The Ulysses / ShipServ integrated solution enables the user to track progress of all transactions electronically in real time, reducing the need for re-keying information, re-sending requests, or chasing up order progress.

Shipping companies on TradeNet have seen substantial benefits, says Kim Skaarup, Chief Operating Officer of ShipServ. Staff no longer waste their valuable time on faxing and rekeying. They buy for more ships, creating better priced long-term deals and improved logistics. We are pleased to be able to bring these benefits to Ulysses customers and to enable them to link to the largest trading network of suppliers.

From our perspective, the integration of ShipServ and Task Assistant made perfect sense, said Bob Schumaker, director of Global Alliances for Ulysses Systems. Our entire focus is about providing ship management solutions that improve the performance and efficiency of a vessel's crew and assets. Our integration with ShipServ's MTML Link will extend the benefits of our purchasing application and expand the reach of our existing electronic trading support and functionality.

Ulysses Systems
With headquarters in Livonia, Mich., Ulysses Systems, Inc. is a leading provider of computer products and services that offer business intelligence solutions to a variety of industries. With about 100 employees worldwide, the company also maintains offices in Europe, South America and the Far East.

ShipServ
ShipServ is the leading supplier of Ship Supply Management software and solutions. It has over 200 contracted customers (extensive list on www.shipserv.com) including 25 leading shipowners / managers (e.g. Anglo Eastern, Hoegh, Graig, J Lauritzen, Norden and Orion Schiffahrt, Vroon) and 180 suppliers ( e.g. Alfa Laval, Deutz, Hamworthy, Hempel, Man B&W, Wartsila, MacGregor). In addition another 350 suppliers have received orders through ShipServ TradeNet. ShipServ has offices in London, Copenhagen and Oslo.