International Asset Systems Inks Deal with P&O Nedlloyd

ROTTERDAM. November 4, 2003 - International Asset Systems (IAS), a leading supplier of asset management solutions to the container shipping industry, announced at the Intermodal Transport and Logistics trade show today that an agreement is currently in place to assist in automating P&O Nedlloyd's critical container maintenance and repair data originating at over 300 of the ocean carrier's depots worldwide.

To help P&O Nedlloyd continue the process of automating the administration of maintenance and repairs for its container fleet, IAS is passing depot transactional data so that it seamlessly populates the ocean carrier's proprietary maintenance system. The transactions, which include gate moves, repair estimates, work orders and repair complete messages are processed on a real-time basis via the IAS Hub. The IAS Hub is an Internet-based gateway connecting users to a series of integrated work tools and services that help ocean carriers, lessors and other equipment operators better manage their container assets worldwide.

"The increase in productivity due to the timeliness of the messages passed by the IAS system has entirely met with our expectations," says Mike Downes, General Manager International Container Management, P&O Nedlloyd. "Damaged containers waiting for repair estimates or approvals add cost to P&O Nedlloyd. IAS' industry-specific solution helps us manage the repair process of our container assets more efficiently by shortening the repair cycle and getting containers back into service quickly, thus reducing hidden costs and increasing availability to move cargo."

Prior to adopting IAS' services for depots, which were not already connected to the in-house maintenance system, P&O Nedlloyd received equipment repair cycle data by email or fax. IAS services enable depots to either upload data direct from their in-house depot management systems or create the data directly on IAS Web screens. This efficient and accurate information capture, combined with integration directly into P&O Nedlloyd's system, improves operating efficiencies and increases data quality. By year-end, IAS and P&O Nedlloyd plan to have a significant number of facilities connected to the IAS system, automating more that 400,000 depot transactions annually.

"We're very pleased with the initial rollout for P&O Nedlloyd, and are confident we help them streamline inefficient processes," said Robert Goodall, IAS Director, Europe. "Not only will the end goal enable them to move the remainder of their depots from manual systems around the globe, it also provides the information needed for their M&R managers to make quality decisions about their container and chassis fleet."

About P&O Nedlloyd
P&O Nedlloyd Container Line, one of the world's leading shipping lines and international logistics provider, is a 50:50 joint venture between Peninsular and Oriental Steam Navigation Company and Royal Nedlloyd NV. P&O Nedlloyd is the world's fourth largest container shipping company by capacity operating with 157 vessels, totaling 407,000 TEU's. P&O Nedlloyd's global liner network offers 84 service routes and provides connections to 235 main ports. Since its formation in December 1996, P&O Nedlloyd have increased its volume by over 55 per cent and continue to build for the future. In 2002, P&O Nedlloyd's turnover was US$4.7 billion.

About IAS
Founded in 1998, International Asset Systems provides the global container shipping industry with innovative asset management applications and Web-based services. IAS harnesses the power of data captured in a shared infrastructure and utilized on a common operating platform-the IAS Hub. By developing solutions that increase equipment visibility and facilitate the seamless flow of information between trading partners in the container transport chain, IAS enables its customers to reduce asset management costs, increase operational efficiencies and provide enhanced service to their customers. Backed by a global private investor, IAS has built a management team with extensive experience in the container transportation industry. IAS is headquartered in Oakland, California and has offices in Chicago, Hong Kong, Aarhus, Nice and London.

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For More Information Contact:

Blair Peterson, IAS, +1-510-844-3003, bpeterson@interasset.com
Jennifer Bronson, Bronson Communications, +1-415-458-2874 jennifer@bronsoncommunications.com

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