Stolt-Nielsen Expands Use of HandySoft's BizFlow to Improve Additional Accounts Payable Processes

Vienna, VA - April 18, 2005 - HandySoft Global Corporation, a leading provider of business process management (BPM) solutions, today announced that Stolt-Nielsen is expanding its usage of BizFlow®, HandySoft's award-winning enterprise BPM platform, to manage additional accounts payable processes. Stolt-Nielsen is the world's largest provider of transportation services for bulk chemicals, edible oils, acids, and other specialty liquids. Last year, Stolt-Nielsen generated cost-savings and cycle-time reductions by using BizFlow to centralize the requisition processes for food and supplies for the crew, as well as maintenance and repair of its assets. Now, Stolt-Nielsen is expanding its usage of BPM to improve bunker acquisition, freight, tanker-trading and warehouse accounts payable processes.

"BizFlow was integral to our business strategy of centralizing our accounting functions. It would have been impossible to undertake this project without the capabilities of BizFlow. We are saving a half million dollars annually, and we have reduced invoice cycle-times by as much as 85 percent, reduced outstanding payables, and can now take advantage of early-pay discounts," said Mickey Stayman, business systems manager at Stolt-Nielsen. "Now we want to bring these same benefits to other areas of our business, such as invoicing related to tanker-space management and fuel requisitioning. Additionally, BizFlow will be an integral part of our new invoicing systems for freight and warehouse management."

In late 2003, Stolt-Nielsen began an initiative to centralize and automate its accounts payable processes from more than 20 locations worldwide to an accounting services center in Houston. The company decided to implement a single global document management repository where accounts payable clerks could store invoice images and supporting documentation, then easily route them for review and approval to supervisors anywhere in the world. Centralization was made more difficult by the complexity of Stolt-Nielsen's business operations: the management of 250 companies, in 24 offices, across six continents, using 16 functional currencies and any of 60 transaction currencies.

BizFlow enabled the integration of Stolt-Nielsen's existing accounts payable systems and processes into a unified solution that tracks payables from submission to payment, auto-pays routine invoices, handles exceptions that require human attention, and generates reports on the status of invoices in the approval and payment process. BizFlow also offers Stolt-Nielsen straight-through processing of payments, according to definable business rules, and automates exception-handling for routing of invoices for review, approval and payment.

"BizFlow enables financial professionals to address the challenges associated with the need to cut costs, reduce cycle times and error rates, and mitigate risk," said Stuart Claggett, chief operating officer of HandySoft. "BizFlow is helping global entities with complex accounting processes such as Stolt-Nielsen to increase the efficiency of their financial operations by automating critical activities, tracking invoices in real-time, gaining visibility into their financial processes with status reports and performance benchmarks, all while enhancing existing financial, ERP, and other legacy systems."

About Stolt-Nielsen S.A.
Stolt-Nielsen S.A. (the "Company") is one of the world's leading providers of transportation services for bulk liquid chemicals, edible oils, acids, and other specialty liquids. The Company, through the parcel tanker, tank container, terminal, rail and barge services of its wholly-owned subsidiary Stolt-Nielsen Transportation Group, provides integrated transportation for its customers. Stolt Sea Farm, wholly-owned by the Company, produces and markets high quality Atlantic salmon, salmon trout, turbot, halibut, sturgeon, caviar, bluefin tuna, and tilapia.

About HandySoft Global Corporation
HandySoft Global Corporation is the premier provider of configurable software solutions that simplify and automate business processes; capture and enforce best practices; improve productivity and quality while reducing costs; integrate information technology; and foster collaboration among employees, customers, and partners.

The foundation for HandySoft's industry and departmental solutions is BizFlow®, the award-winning platform for business process management, automated workflow, and collaboration. BizFlow offers complete capabilities for building and managing automated business processes, including tools for designing and monitoring the processes, presenting and accessing work, integrating existing IT systems, and administering the platform itself. As a global solutions provider, HandySoft Global is headquartered in Vienna, VA, with offices in Australia, Japan, London, and Korea, with strategic partner representation throughout the world. HandySoft has implemented process management solutions at hundreds of sites worldwide. For more information call +1-703-442-5600, email info@handysoft.com or visit www.handysoft.com.

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