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Memnon's mission statement and vision.

Memnon Network Applications (Memnon) was founded in 1997. Today we are the largest and leading Nordic provider of Transport Administration (TA) services. The thinking behind Apport, our web-based service, is that both forwarders/transport companies and transport buyers should be able to bring all their transport administration together in one place, and thus improve the efficiency of their respective supply chains.

The traditional ways of handling transport bookings, namely by telephone or an EDI connection, are expensive, and not good at handling the basic needs for quality and functionality among both transport buyers and transport companies. Large savings can be made by making the three components of the workflow EDI, freight documents, and electronic booking more efficient. Even today, more than 80% of existing TA solutions do not handle booking information electronically. This takes away a large part of the potential for savings for both transport buyers and transport companies. Memnon developed a solution for handling this early on, and today offers the only TA system (Apport) on the market which offers booking as standard.

Memnon was the pioneer in online TA when Apport was launched 1997 and today we are still the market leader with more than 20,000 active customers, growing at a rate of 37 new customers per day during 2007. We have connections to more than 100 transport companies. These include DHL, Schenker, DSV, Geodis and Frigoscandia, who have chosen to actively market Apport as their OEM solution with own brands (Multishipping, Web TA, DSV E-services and Freight Planner).

Going forward Memnon's strategy for Apport focuses on four main areas:

1. Extremely high operational stability. Apport is essentially like a production system for our customers. That is why we spend significant resources on operational security and stability. During 2007 our uptime for the service exceeded 99.9%.
2. Leading support. We have a support organisation that is well-trained and service-oriented. Internally, it is one of the highest priority departments.
3. A service that is easy to use but also advanced. Over the last 10 years, over 100,000 man hours of system development have been invested in Apport. In consultation with our customers, we have enhanced the system to meet the needs that yield clear customer benefits, while at the same time focusing on keeping the system simple and user-friendly.
4. Neutrality. Apport creates significant for our customers. Memnon will, however, always remain neutral in the business relationships between forwarders/transport companies and transport buyers.
   

Today, more than 50% of our customers base is outside Sweden. Our ambition is to grow rapidly both in Sweden and elsewhere over the coming years. Our philosophy is that the best form of marketing is satisfied customers.

We hope this has caught your attention and you would like to take part in our journey.

Yours faithfully,

Martin Randel

Chief Executive Officer