EAST RUTHERFORD, NJ, February 17, 2004, Management Dynamics, Inc., a leader in price and contract management solutions for the ocean transportation industry, today announced that Engelhard Corporation, one of the largest U.S. exporters, has selected Rate Explorer to manage its ocean service contracts and provide its customer service teams with fast, accurate, bottom-line rates when building export orders.

Engelhard Corporation ships over 35,000 containers per year and needed to overcome the inherent complexities of ocean pricing when building shipment costs into its export orders. Rate Explorer will automate Engelhard's ocean contracts and will be used by international customer service representatives as part of their existing J.D. Edwards order to delivery process. Using Web Services, Rate Explorer's integration adapter will receive requests from the J.D. Edwards system used by Engelhard and calculate a complete and accurate bottom line cost for each shipment returning the charges to the order management system. Engelhard will also use Rate Explorer to improve its audit productivity and reduce the time to resolve billing issues with its carriers.

"Rate Explorer will improve how we manage our ocean transportation and allow us to realize targeted customer satisfaction gains in our export business as well as streamline the audit process", said Ron Keegan, Director Global Logistics "We evaluated the option of building our own contract management system, but could not cost-effectively deliver a solution within our aggressive timelines that matched the proven capability of Rate Explorer."

"Rate Explorer is a powerful contract management solution for both importers and exporters who are looking for opportunities to improve their customer service and accurately manage their supply chain costs" , said Albert Cooke, vice president sales of Management Dynamics. "We welcome Engelhard Corporation to our growing list of shipper clients."

About Engelhard Corporation
Engelhard Corporation is a surface and materials science company that develops technologies to help customers improve their products and processes. A Fortune 500 company, Engelhard is a world-leading provider of technologies for environmental, process, appearance and performance applications. For more information, visit Engelhard on the Internet at www.engelhard.com.

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