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Michelle Lu, Hutchison Port Holdings Winsor Huang, President Office, Yang Ming Group
Tel: 852-2619-7557Tel: 886-2-2455 0497
Fax: 852-2612-0083Fax: 886-2-2455 0781
E-mail: gca@portsnportals.comE-mail: winsorhuang@imail.yml.com.tw

Portsnportals.com signs MOU with Yang Ming's Yes Logistics to support Global Transport eXchange

Strategic alliance with Taiwan-based shipping line to share customers and services will boost geographic reach of GTX

[Hong Kong / Taipei, 2 May 2000] (http://www.portsnportals.com) Portsnportals.com, the e-commerce operations of Hutchison Port Holdings (HPH) and (http://www.yeslogistics.com) Yes Logistics Corporation, a member of the Yang Ming Group, announced today they have signed an MOU to establish a strategic alliance to provide integrated logistics solutions in support of the Global Transport eXchange (GTX).

The GTX is the first worldwide online exchange for the transportation services community and one of the seven core e-commerce services grouped under the Portsnportals Internet brand. It is a secure and neutral electronic marketplace for the whole transportation community, covering trucking, air-freight, rail, shipping and warehousing. It allows buyers and sellers of logistics and transportation capacity to meet and transact.

The MOU signing ceremony was held in Taipei today. It was jointly signed by Aaron Mak, Chief Executive Officer of Portsnportals.com , and Spring Wu, Chairman of Yes Logistics. Under its terms, Portsnportals.com and Yes Logistics Corporation will jointly develop and customize integrated logistics solutions for the GTX. The MOU requires both parties to implement co-marketing and co-branding arrangements to promote integrated logistics solutions to customers on a worldwide basis.

Portsnportals.com signs MOU with Yang Ming's Yes Logistics

Portsnportals.com is utilizing its global resources and business connections to ensure the GTX serves a truly worldwide market. The proposed alliance with Yes Logistics Corporation aims to broaden the geographic reach of the GTX by incorporating the existing Yes network and systems capabilities. To complement this, the Taiwanese partner will leverage on the knowledge and relationships of Portsnportals.com to penetrate the global logistics market.

"The agreement with Yes Logistics Corporation is a welcome step forward for Portsnportals.com," said John Meredith, Group Managing Director of HPH. "This is a strategic alliance to share customers and services with a view to widening and strengthening the logistics and transportation capacity of the GTX. Yang Ming is a respected shipping line in Taiwan. At a stroke, it gives Yang Ming a global presence within the GTX while Portsnportals.com gains representation in the important Taiwanese market."

"In just a few weeks since it was established, Portsnportals.com has won wide recognition as an innovative 'one-stop shop' for logistics," said Tsai Ming-sheu, Executive Vice President of Yang Ming. "GTX is an important part of the Portsnportals.com family of e-commerce services and products and we are delighted to have this opportunity to support its growth."

GTX is a joint venture between Portsnportals.com and Oracle Corporation. It is expected to streamline and significantly eliminate inefficiencies from transportation supply chains in the US$800 billion freight transportation industry.

Portsnportals.com signs MOU with Yang Ming's Yes Logistics

Notes to Editor

About Hutchison Port Holdings

HPH is an independent port investor, developer and operator with global interests in Asia, Europe and the Americas. Today, HPH operates a total of 120 berths in 18 ports along with a number of transportation related service companies. With industry recognized core competence in effectively and efficiently managing and operating container ports, the HPH Group handled over 17.9 million TEUs (Twenty Foot Equivalent units) in 1999.

Portsnportals.com, the e-commerce operations of HPH, is dedicated to helping businesses adapt to the future of global trade by transferring information across the vast expanses of the Internet.

About Yes Logistics

Yes Logistics, a member of the Yang Ming Group, aiming to effectively co-ordinate international logistics services with the latest information technology, is a professional provider of Global Logistics Total Solutions. Established in November 1999, Yes Logistics is the first company developing global logistics services in Taiwan.

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