First on-line cargo insurance application now available to EEC

CargoCover GOES UK

Montreal, Canada – September 15, 2000 – CargoCover, Oceanwide.coms on-line cargo insurance application, has recently been licensed to UK-based Translinx Limited. Entering the European market was the next natural step for CargoCover and we are pleased to be working with Translinx in this joint initiative" says Barrington P. Halliburton, CargoCovers product manager.

Since CargoCovers official launch in 1998, over 1,000 freight forwarders and independent shippers worldwide have become registered users. Using the system eliminates the traditional paper intensive and time consuming processes of manually booking and managing cargo insurance. Mark Roberts, managing director of Translinx Limited, adds: Our hopes for CargoCover are to get 5% of all French, Dutch, German and UK freight forwarders to use the CargoCover offering within the next two years."

Over 2,000 registered carriers presently use the Translinx.com web site to buy fuel, software, finance and insurance services. Their ASP-based tracking technology and extranet allows manufacturers to effectively communicate with their preferred carriers/suppliers. The real value to Translinx is in the way CargoCover closes the loop on our overall ability to provide a totally web-based solution for the supply chain element that delivers product to the consumer," states Mr. Roberts. Unlike other online cargo insurance management systems, the CargoCover application meets the needs of shippers, forwarders and brokers by providing real-time premium quotes and certificates to the transportation and logistics community worldwide." The Translinx web site can be found at http://www.translinx.com. An online CargoCover demo can be found at http://www.cargocover.com.

About Oceanwide.com
Oceanwide.com is a leading provider of Internet e-commerce business solutions to the transportation and logistics community. Oceanwide.com provides on-line cargo insurance, customized messaging solutions and online software for freight forwarders. The companys web site is http://www.oceanwide.com.

Contact: Jacinthe Leclerc, Director of Communications jacinthel@oceanwide.com

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