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VARSITY NEWS

VARSITY RELEASES SHIPAUDIT(tm) 1.1

Latest release of Varsity ShipAudit adds key customer-driven enhancements

COMMON CONFERENCE & EXPO, INDIANAPOLIS, Indiana - March 9, 2003.
Varsity Logistics, Inc., the pioneer of transportation management solutions for the IBM iSeries (AS/400), today announced that it has released ShipAudit 1.1, the latest version of its ground-breaking carrier invoice auditing software. Varsity will demonstrate ShipAudit 1.1 at the Common Conference & Expo in Indianapolis from March 9th to March 11th.

Carrier invoice auditing is a significant area for transportation managers to control costs. Varsity ShipAudit, which was first released in early 2002, streamlines the auditing of freight bills against negotiated carrier rates and discounts, saving valuable time and recuperating overpaid expense. The software ensures carriers' claim and dispute deadlines are met, and eliminates the need for expensive third-party consultants. Furthermore, ShipAudit simplifies carrier management based on historical performance, and provides information for future contract negotiations.

The latest release of ShipAudit, version 1.1, includes several customer-driven enhancements. In addition to electronic data interchange, transportation managers can now automatically extract data from carriers' billing spreadsheets for faster invoice analysis. Additional function keys make ShipAudit even easier to use, and new reports enable the accounting department to allocate shipping costs to different cost accounts.

Using ShipAudit Varsity customers control shipping expense. "Auditing carrier invoices is a top priority for many of our customers and a big way to reduce costs, notes Tony Phillips, Varsity Product Manager, "ShipAudit is our fastest growing product line, and we are investing in customer-driven enhancements to make ShipAudit even more valuable for our customers".

In addition to ShipAudit, Varsity provides FreightAudit, auditing software for freight shippers. FreightAudit automates the reconciliation of anticipated LTL, Truckload and Rail shipment costs with actual billed carrier costs. FreightAudit helps transportation managers control freight costs, monitor trends, meet claim and dispute deadlines and eliminate third-party auditing consultants.

About Varsity
Founded in 1989, Varsity Logistics, Inc. is a pioneer of integrated Transportation Management Systems (TMS) designed for the IBM iSeries platform. Varsity's supply chain execution suite manages the fulfillment of orders initiated through both e-commerce and traditional sales channels via third-party carriers. ShipSoft, the core of Varsity's offering, automates the shipping process by providing automatic weigh/rate/label services, rate shopping, multi-weight consolidation, "bill as/ship as" options, and electronic manifesting for small package, LTL (Less Than Truckload) and international parcel shipments. Varsity is based in San Francisco, California.