SAVI TECHNOLOGY AND ACEFUSION ANNOUNCE MERGER

Silicon Valley and Singapore Based Companies Join Forces, Create Global Leader In Real-Time Logistics Software Powered By Automated Data Collection Systems

Sunnyvale, Calif. and Singapore - April 19, 2001 - Savi Technology, Inc., a leader in real-time logistics software and systems, today announced that it has merged with AceFusion.com Pte Ltd., a Singapore-based provider of web-based, multi-modal supply chain execution solutions.  The fusion of the two companies, announced at an official ceremony on April 19 in Singapore, creates a new, global provider of real-time logistics software and systems.

Savi Technology provides a software platform and applications to enable multi-national shippers, logistics services providers, conveyance owners, and infrastructure owners to monitor, manage, and optimize the progress of goods through all segments of a global supply chain.  AceFusion, which is renamed Savi Technology Asia, develops and markets a range of logistics and supply chain execution software to the same customer base.  A unique component of the merged company's strategy is its use of wireless data networks to automatically track the movement of in-transit goods and materials.

The merger, which involves an exchange of stock between the private, venture capital funded companies, creates a single company offering a broad range of web-based software applications for end-to-end management of the movement of commercial goods.  These applications and services complement and extend the Savi SmartChain™ platform, which provide supply chain participants with web-based logistics management and collaboration tools that are driven by accurate, real-time data collection systems.

"The creation of Savi Technology Asia dramatically expands our ability to bring real-time logistics management tools to global manufacturing companies and supply-chain participants," said Vic Verma, president and CEO of Savi Technology, Inc.  "This combination adds both a suite of supply chain applications and well-established business operations throughout Asia to our existing infrastructure, and will help to drive accelerated deployment of systems to current and new customers.  We also look forward to contributing to Singapore's role as an advanced Asia Pacific hub for logistics and commerce in the 21st century."

Building a Global Logistics Software Leader

Already with business offices and clientele in Hong Kong, Malaysia, India, Thailand, Taiwan and Singapore, Savi Technology Asia is the principle point of contact for Savi customers in the region.  The current senior management team of AceFusion remain with the company, and all product research and development programs, including ongoing development of supply chain execution applications, continues at the Singapore location.

"Our product offerings in back-end fulfillment and supply chain execution applications is substantially enhanced by the addition of real-time, automated tracking and visibility through the Savi SmartChain platform," said Chee Kean Lim, President, Savi Technology Asia.  "This merger accelerates our goal of using the Internet and information services to transform supply chain operations.  Most importantly, it enriches our products, enhances our market positioning, and accelerates the company's global expansion."

"Kerry Logistics believes in investing in IT, and engaging AceFusion's logistics management solutions is part of our overall strategy to continually strengthen our value to customers, " said Mr. Max Jones, Director of Kerry Logistics Network Limited, Hong Kong.  "With the merger with Savi Technology, Kerry Logistics looks forward to more innovative services and applications for the company's e-fulfillment infrastructure."

Kerry Logistics is a leading third party service provider in Hong Kong, with a strong presence in nine major Asian markets, and an operational umbrella from South Korea to Australia.

Company Histories

AceFusion was established in 1998 by a group of veterans from the logistics and IT industry.  The company grew from six to 120 employees since its inception, while establishing offices throughout the Asia Pacific region.  AceFusion was the first company to receive financial backing from Singapore's National Science and Technology Board's (NSTB) Venture Investment Support for Start-ups (VISS) Fund.  In addition to NSTB Holdings, other investors include WIIG-TDF Partners LLC, Technology Fund II, Infocomm Investments and Venture TDF.  AceFusion has established a strong partner network with Oracle, Sun Microsystems, ILOG, IBM-Lotus, Fuji Xerox, and MHE-Dematic, Singapore.  The company's clients consists of shippers and logistics operators, including Taiwan's Morrison Express, Hong Kong's Kerry Logistics, Thailand's Traffic Express International, and Donaldson Filtration Asia Pacific.

Savi Technology, which now has approximately 300 employees worldwide, was founded in 1989.  The company gained recognition in the early 1990s as a premier developer of wireless automatic identification technologies.  It was owned by Texas Instruments, Inc. from 1995 - 1997, and then by Raytheon Corporation to June 1999, when private investors and employees acquired the firm.  During this period, the company was named as the principal provider of wireless tracking systems used for supply chain management in the United States Armed Forces.  In addition, the US Defense Advanced Research Projects Agency (DARPA), the creator of the Internet, has funded several Savi research initiatives to further its vision of creating the supply chain counterpart to the Internet through development of cutting-edge monitoring and optimization technologies.

Investors in Savi Technology, which has received funding of more than $58 million in two rounds of financing, include Accel Partners; Mohr, Davidow Ventures; Temasek Capital; United Parcel Service (NYSE: UPS), through its UPS Strategic Enterprise Fund; and Vector Capital.  Savi's customer base now includes the U.S. Department of Defense, the U.S. Postal Service and Singapore Airlines, as well as major automotive, electronics and grocery and retail companies.  The company is headquartered in Sunnyvale, California, with offices in Alexandria, Va., San Francisco, and Heidelberg, Germany, in addition to the offices of Savi Technology Asia.

# # #

™ -- Savi, the Savi logo and SmartChain are trademarks of Savi Technology, Inc.  All other trademarks are the property of their respective owners.

Other News