Corvedia

Press Release

Provisional Patent filed for New B2B Data Interchange Protocol

03/09/00

Conrad G. Persels, President of Corvedia, announced today that Corvedia has filed a provisional patent for its eFORWARD family of products and services. eFORWARD is based on a sophisticated communications protocol referred to as iDI™ (Instant Data Interchange). iDI utilizes the underlying Internet technologies and pure Java to implement an instant data interchange capability between diverse computers over the Internet. Business-to-business data (including standard EDI messages and XML defined documents) can be instantly interchanged between and among trading partners using eFORWARD. eFORWARD also features trade partner management tools andinterchange tracking through browsers

In making the announcement, Persels noted that businesses can easily integrate eFORWARD into their existing EDI systems to reduce costs and extend their trading partner relationships. "eFORWARD provides an ideal framework for business-to-business data interchange," Persels said.

Persels also stated that an aggressive marketing campaign is planned to introduce eFORWARD to the exploding business-to-business market now that eFORWARD has attained patent pending status.

Corvedia was spun off from Flagship Technologies, Inc. in 1999 to further develop and market the eFORWARD family of products and Services. The core iDI technology has been embedded in various Flagship applications over the past several years and is well tested. Corvedia was formed to package iDI for use by the business-to-business market. Persels is actively seeking capital to speed further development and marketing.

Many businesses and product developers are trying to use the existing Internet Transport Protocols (FTP, HTTP and SMTP) to interchange business data. Persels states that these protocols were not developed for that purpose and are not well suited for business-to-business data interchange. eFORWARD has been developed specifically to enable businesses to interchange data and to integrate applications across the Internet.

Persels holds a Bachelor of Arts in Physics from Dartmouth College and a Ph.D. in Engineering from the University of Florida. He is a co-founder and past president of Flagship Technologies. Prior to his starting Flagship, he spent 20 years with GE, the last 14 of which were with GE Information Services (GEIS) where he held a number of managerial positions progressing from Engineering, to Finance, Strategic Planning and Marketing.

The key developer of eFORWARD is Greg Pringle, VP, Product Development for Corvedia. Before joining Corvedia, Pringle spent 10 years with Flagship Technologies where he had concentrated on EDI and communications. He has successfully developed many applications requiring cross-system support. Pringle is an expert in multiple operating systems and communication protocols. He holds a BA in Economics from UCLA.

Flagship Technologies, Inc., based in Rockville, MD, is a leading supplier of software and computer services to the Ocean Shipping and International Trade Community. Since its founding in 1986, Flagship has served the Ocean Shipping community with systems in documentation, accounting, equipment control, US Customs AMS and EDI. Recently, Flagship has been focusing on its Virtual Host offering which enable it to provide access to its applications over the Internet. Clients using the Flagship Virtual Host are able to run their applications from anywhere in the world with access to their own central database. Flagship will act as an eFORWARD reseller and will offer eFORWARD products and services as part of its expanding line of EDI services. Corvedia will work closely with Flagship to serve Flagship clients.

As part of the spin-off agreement, Bloksberg, Inc. has become the majority owner of Flagship Technologies, Inc. with Persels maintaining a minority position. Bloksberg has a minority position in Corvedia.

For more information, contact:

Conrad G. Persels 20010 Century Blvd., Suite 105 Germantown, MD 20874 Phone: (301) 528-6620 Web: www.corvedia.com