Other News

TCV ANNOUNCES $15 MILLION INVESTMENT IN INTEGRES, BACKED BY MAJOR TRANSPORTATION LEADERS
Funding strengthens Integres' unmatched shipping service suite

Palo Alto, CA—January 14, 2002—Technology Crossover Ventures (TCV), the premier provider of growth capital to technology companies, today announced a Series A, $15 million investment in Integres. TCV general partner Henry Feinberg will take a seat on Integres' board of directors.

Integres, a virtual freight forwarder, provides a one-stop door-to-door solution for the shipment of expedited heavy freight, enabling corporations of all sizes to benefit from "Fortune 500" pricing and service reliability. Integres has developed a global network of transportation service providers that is enhanced by strategic partnerships—including American Airlines, United Airlines, US Airways, Roadway Corporation, and UTi Worldwide. This network provides Integres with highly competitive rates, preferred access to capacity, established distribution channels and in many cases, revenue commitments. Founded in 2000, Integres is currently servicing customers from its Rancho Cordova, Calif. headquarters.

"The combination of a fragmented $50 billion expedited domestic and international heavy freight market, key strategic partnerships and an extremely seasoned and savvy management team, provides Integres with significant competitive advantage," said TCV's Feinberg. "Integres' sophisticated and robust IT platform also enables a previously unavailable level of service quality to small and mid-sized shippers who are demanding end-to-end visibility of their shipments and access to fully integrated eLogistics capabilities."

TCV's investment further demonstrates the firm's proven track record of forging businesses at the intersection of technology and the Global 1000. The firm's unique strategy targets turbo-charged, strategically backed businesses that benefit from the synergy of domain expertise, assets, pricing, distribution channels and revenue commitments from their Global 1000 parents. Recent examples include TCV's investments in Expedia (Microsoft), eLoyalty (Technology Solutions Corporation) and its strategic alliance with Shell Internet Ventures, a venture capital fund established by The Royal Dutch/Shell Group of Companies.

"TCV brings a unique blend of technology investing experience and Fortune 500 operational expertise to our board of directors," said Jim Hartigan, Integres CEO and president and former vice president of United Airlines Cargo. "With their proven model of investing in high-growth companies in the private and public markets, they are uniquely positioned to accelerate Integres' growth and further its leadership in the marketplace."

Joining Feinberg on Integres' board of directors, are Doug Hacker, president, UAL Loyalty Services; Dave Brooks, president of American Airlines Cargo; Paul Mouly, VP Operations at Unisys; and Bob Stull, VP New Venture Commerce at Roadway Corporation. Integres' executive management team includes Jim Hartigan, CEO and president, former vice president of United Airlines Cargo; Don Horning, VP Sales, former director of Worldwide Services for FedEx Corporation; Robert Verret, VP Technology, formerly with CSX Technology; and Roy Hecteman, VP Operations, former VP Business Development at iCargo.

About Technology Crossover Ventures
Founded in 1995, TCV is the premier provider of growth capital to technology companies. With its crossover investing model, TCV provides funds to expansion and late stage private companies, as well as public companies. Additionally, TCV manages a technology focused public market hedge fund, the TCV Franchise Fund. Over the past six years, TCV has invested in a number of public companies, and over 125 private companies, 34 of which have successfully completed their initial public offerings. With over $2.5 billion under management, the firm has 12 partners and is headquartered in Palo Alto, Calif.. For more information about TCV, visit the Web site at www.tcv.com.

About Integres, Inc.
Integres is an integrated airfreight and logistics service provider that combines the assets and experience of world-class transportation carriers with the power of Internet technology to offer small and medium-sized shippers a single source solution for multi-modal shipment of heavy freight. For more information, visit www.integres.com.