Datatrac Announces $3 Million in Second Round Funding

Datatrac Corporation, the leading software developer and wireless communications solutions provider for the time-sensitive delivery industry, today announced the completion of $3 million in Series B funding provided by new investor, LogiSpring, Geneva, Switzerland and existing investor, The Megunticook Fund, Boston, Massachusetts. The new financing will provide additional resources to further the strategic development and global deployment of eTrac, an end-to-end online information network that provides real-time visibility and complementary settlement services for the independent expedited transportation industry. eTrac monitors shipments from the initial order entry to the settlement of invoices. The eTrac solution collects and transfers shipping information as it occurs among leading freight forwarders, shippers, trucking and courier companies.

"With this round of funding, Datatrac is positioned to focus on accelerating growth and expanding the eTrac Network," said Craig Lotz, Chief Executive Officer of Datatrac Corporation. "LogiSpring and Megunticook represent two premiere venture capital investors specializing in logistics and supply chain related investments, and we value their participation in our expansion. We appreciate Megunticook's continued support of our business plan, and we welcome LogiSpring's Frans Th. van Schaik to our Board of Directors. His international supply chain management experience will prove extremely valuable to our growth."

According to Frans Th. van Schaik, Managing Partner LogiSpring, "LogiSpring recognized early on the industry need and market potential for eTrac. We are very excited to invest in a company of Datatrac's caliber. The company possesses a unique combination of customer base, portfolio of services, technology, and reputation in the industry that will enable them to make eTrac the benchmark solution for the industry. We have thoroughly investigated the playing field, and found Datatrac to be second to none. Our findings are further supported by the adoption of eTrac by several major industry players. We strongly believe that Datatrac has great potential in North America and, in due course, internationally. They are a fine example of a company with a strong technology-based solution that will continuously add value and generate benefits for its customers."

Matthew Lorentzen, Partner at Megunticook, said, "Megunticook's participation in this round exemplifies its continued support of Datatrac, and its management team's ability to capitalize on the eTrac opportunity. We are excited about the growing demand by the Air Freight Forwarder community, as well as the ongoing adoption by the established agent network. We believe Datatrac's industry-leading position to be a true competitive advantage."

About Datatrac Corporation
Datatrac Corporation is the leading software developer and wireless communications solutions provider for the time-sensitive delivery industry. Founded in 1977 and headquartered in Atlanta, GA, the company provides solutions to courier/messenger companies, expedited freight trucking companies and global airfreight forwarders. For more information, go to www.dtrac.com.

About Megunticook
The Megunticook Fund, a Boston-based venture capital fund, invests in early and mid-stage technology companies with a focus on supply chain and logistics related technology investments. Other investments include: GT Nexus, Synchronet Marine, Translation Technologies, and Management Dynamics Inc. More information on Megunticook is available at www.megunticook.com.

About LogiSpring
LogiSpring is a pan-European venture capital firm with a global mandate, focusing on companies with technologies and technology-based solutions designed or expected to have a significant impact on global supply chains. Investors in the LogiSpring managed Funds include TPG NV and Booz Allen Hamilton. LogiSpring's portfolio includes investments in Kiala, Covast, Apriso and LXC. LogiSpring has offices in Geneva, Switzerland. For further information on LogiSpring, visit www.logispring.com or contact frans.van.schaik@logispring.com.