Business Wire
(Copyright (c) 2000, Business Wire)

DOWNERS GROVE, Ill.--(BUSINESS WIRE)--May 18, 2000--The National Transportation Exchange has been named one of the top 50 privately held companies in America by Red Herring magazine, the respected publication covering technology.

In its June issue identifying the world's 100 most important public and private companies, the publication said NTE was one of the companies "whose products, services and business models were defining the future of business." Identified by Red Herring as the "leader in its market," the online trading exchange for buyers and sellers of ground transportation was selected to the list from among more than 500 global entrants.

"We hold technology companies to a set of standards that prove to us that they are innovators, agents of change and leaders," said Jason Pontin, editor of Red Herring magazine. "We see that the emerging networked economy is one that requires vision, innovation and proven expertise."

NTE President and Chief Executive Officer Jim Davidson said: "This is an exciting time for NTE. As an increasing number of companies use electronic commerce, we are poised to provide them with a greater level of economic value and more efficient and effective management of logistics. We are transforming the way shippers and carriers do business with one another, and we're pleased that Red Herring recognized us."

Based in suburban Chicago, NTE (www.nte.net) has created a dynamic marketplace that enables transportation companies to transact with retailers, manufacturers and others who need logistics support and shipping capacity. Both parties receive economic benefits that otherwise might not occur, much like the New York Stock Exchange enables reward for traders in the investment community. About 600 companies today are members of the exchange, which is financed by some of the premier technology-focused venture capital firms in the U.S.