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JV FORMED TO FIGHT GLOBAL CARGO CRIME

Added: (Wed Sep 06 2000)

Pressbox (Press Release) - USE OF AUTOMATION WILL HELP STOP LOSS OF HIGH TECH GOODS IN TRANSIT

Washington DC, September 6, 2000: An international company is being formed by two leading security groups to fight global cargo crime. Rates of cargo-related crime have been soaring in the United States, Europe and Asia, and little has been done to stem the tide of billions in lost cargo and its impact on productivity.

The new company, the “Global Supply Chain Security Assurance Joint Venture” will develop the latest technology against cargo criminals, based on RiskWatch Inc.'s security management software platform. RiskWatch, based in Annapolis, Maryland is one of the founders of the Joint Venture. The other is FreighWatch International Ltd. of Dublin, Ireland.

The Global Supply Chain Security Assurance JV will manage a high technology command center linked to the complex international supply chain made up of freight handling and forwarding companies of all sizes and their suppliers. “We will be using an automated risk management methodology, secure communications links, and on-line threat information to track and halt criminal activity,” Caroline Hamilton, President of RiskWatch said today.

The new Security Assurance JV will support international standards in the cargo industry, and apply security measures and standards developed in the United States and internationally.

RiskWatch Inc. is a pioneer in advanced security management software. RiskWatch numbers among its customers nearly all U.S. government agencies, the Defense Department, and top corporations. RiskWatch supplies automated risk assessment software and is participating in the U.S. “critical infrastructure” protection initiative called “Project Safeguard.”

FreightWatch International Ltd. Of Dublin, Ireland is the only company in Europe focused exclusively on the development and implementation of customized security solutions to the "at risk" transportation/distribution and logistic sectors. It has developed a credibility and reputation unique within the security industry in the identification and implementation of effective international supply chain security solutions.

FreightWatch numbers among its customers global high technology companies such as Hewlett Packard, Dell Computers, Maxtor and Quantum Peripheral Products.

For More Information:

Riskwatch Inc. WEB site is: www.riskwatch.com

FreighWatch WEB site is: www.freightwatch.ie

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