TORONTO (Dec. 20, 1999) — Valu-net Corp., a marketing firm that specializes in e-commerce, and Applied Innovations Group, a computer hardware supplier, have ventured into on-line freight brokering.

The companies plan to launch www.bidfreight.com, a Web site where trucking companies and shippers can negotiate transactions between shippers, carriers and consignees.

“The North American truck transportation industry is a $400 billion per year market,” said Ivan X de Souza, president and CEO of Bid Freight and recently named executive vice president of Valu-net. “Our service is a natural progression for the entire logistics community and we believe that Bid Freight.com is well positioned to own substantial market share in this sector.”

BidFreight.com is one of several new Internet-based brokerages that allow qualified shippers and carriers to interact directly with each other over the Internet. It offers automated shipment tendering, bidding, nesgotiation, scheduling, delivery notification, secure payment processing, interactive marketing and electronic commerce initiatives.

BidFreight.com uses a “reverse” auction format where shipping companies can use the Internet to post available loads that carriers can directly bid upon, with the lowest price winning the tender. The savings over conventional brokerage systems can be as high as 70%, the companies said. In addition, Bid Freight.com offers real-time financial settlement using an automated secure transaction processing and payment system, as well as key logistic management and information services. These features result in a more efficient system for the execution of transportation, cost savings and payment services.