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Mitsubishi Corporation Selects TradeCapture, Inc. to Supply Energy Transaction and Risk Management Solutions

Leading Japanese trading company looks to ICTS Symphonyä to manage risk and quickly streamline operations while reducing transaction costs.

STAMFORD, Conn. – October 8, 2002 -- TradeCapture, Inc., the foremost developer of global energy trading and risk management systems, announced today that Mitsubishi Corporation’s Energy Business Group will be implementing TradeCapture’s ICTS Symphonyä to track and manage its global petroleum and gas assets, and global marketing and trading activities.

ICTS Symphony is a fully integrated, multi-commodity trading and risk management system that operates across the entire transaction chain and supports all physical and financial transactions including exchange-based futures and OTC derivatives. The software eliminates data entry and storage duplication and benefits its users with improvements in managing risk, identifying trading opportunities and overall efficiency.

"After a comprehensive review of the trading platforms in the market today, we decided on ICTS Symphony’s ASP version because it provided the best balance between reliable and innovative technology. We felt it was the system that best matched Mitsubishi’s traditional physical-based trading style, while bringing us thoroughly up-to-date in a real-time commodity-based world. ICTS Symphony is a complete front-to-back system that will provide our senior management with reports to precisely track our total risk position and portfolio in one system," noted Robert A. Nunan, Manager, International Petroleum Business Planning at Mitsubishi Corp.

ICTS Symphony improves efficiency through its STP (straight-through-processing) feature, which enables traders and risk managers to make better-informed decisions faster, thereby allowing them to spend more time in the market and less time managing the information flow across their organization. As to going live with their new system, Nunan added: "We are confident that TradeCapture’s ASP solution, implementation methodology and experienced personnel will enable us to move ahead into production quickly and painlessly."

"We are very pleased that Mitsubishi Corp. has selected TradeCapture as its energy trading and risk management software partner. Due to increased scrutiny, market volatility and counterparty credit risk, Mitsubishi Corp. was in search of state-of-the-art technologies to more effectively manage its business. We are delighted they identified ICTS Symphony as their software solution," said Vincent P. Annunziata, founder and CEO of TradeCapture.

Mitsubishi becomes TradeCapture’s first customer in Japan and joins customers in Singapore, Dubai, Mexico, Panama, Switzerland, Italy, Rotterdam, the United Kingdom and the United States.