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Mar 1, 2006 12:00 PM

Odyssey Logistics & Technology has concluded a record year of development and corporate success. In 2005, notable achievements for the logistics service provider included the sale of $11 million of preferred stock, the issue of a patent for the company's integrated logistics system, a chief financial officer appointment, and product developments and industry awards. Odyssey also continues to sign major customers with year-over-year growth in excess of 50%.

After the stock sale, Odyssey named financial industry veteran of more than 20 years, Cosmo J Alberico, its CFO to support the company's growth strategy.

In July 2005, Odyssey was granted United States Patent #6,915,268 entitled “Transport Logistics Systems and Methods.” Other 2005 highlights include:

• Launch of International Forwarding Platform — In March, the company made available its web-based freight-forwarding system, the International Forwarding Platform.

• In July, Odyssey announced the launch of its tank truck service offering. Designed for chemical manufacturers and distributors seeking to streamline logistics processes, the enhanced tank truck services include continuous movements and advanced outbound and inbound load scheduling for loading docks and liquid fill racks.

• Odyssey was selected as one of Inbound Logistics magazine's Top 100 third-party logistics providers in August.

• Odyssey was noted as a leading service provider in the April 2005 in-depth market study from ARC Advisory Group titled A Strategic Guide for Logistics Service Providers: Industry Trends, Provider Profiles, and Maturity Model.