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PRESS RELEASE

NUS first among worldwide universities to lead research and innovation on GCEL s digital trade platform GCEL and NUS join forces to launch Academic Subcommittee

Singapore, June 27, 2011: The Global Coalition for Efficient Logistics (GCEL), a leading Swiss-based public/private partnership, is joining forces with the National University of Singapore (NUS) through The Logistics Institute Asia Pacific (TLI Asia Pacific) to launch GCEL s prestigious Global Academic Subcommittee in Singapore. The Committee will conduct ongoing state-of-the-art research to enhance a powerful new digital platform that will energize global trade and lead the world into a new era of trade efficiency. GCEL s HumaWealth Program is providing the soft infrastructure that will connect countries across the globe and slash the cost of trade, in turn dramatically increasing the volume of international trade and sustaining economic growth. HumaWealth comprises three key elements: an open-source technology platform, a global network of trusted companies, and a rapid global deployment program that provides the tools, free of cost to the end users, to optimize trade, thereby promoting economic growth. The HumaWealth Program represents the greatest transformation in global trade since the advent of containerization more than a half century ago, said GCEL Co-Chairman Captain Samuel Salloum, speaking at a special MOU signing ceremony in Singapore. Our partnership with NUS brings world-class academic prowess to the task of enhancing a bold new digital platform that will energize global trade through a quantum leap in efficiency, thereby triggering sustained economic growth. Professor Tan Eng Chye, Chairman of TLI Asia Pacific and Provost, NUS said, We are proud to be part of this world-class alliance, which reflects the tremendous lead that NUS enjoys in technology and innovation. This provides an excellent opportunity to advance our key supply chain programs. The mission, the team, and the global reach of this new Committee all give us a unique opportunity to position many of our key programs for even greater global excellence. NUS will be one of a select number of premier universities around the world that will participate in an ambitious R&D program to lead innovation in supply chains, e-commerce, and technology. The program will be supported by an innovative revenue sharing formula that will give the Academic Subcommittee a share in a total fund of $18 billion a year by 2020. The Academic Subcommittee will be one of eight subcommittees that will guide the R&D effort. It has three critical missions: In the near term, assess the impact of the soft infrastructure on shipment efficiency; In the medium term, develop research and training programs to help countries around the globe take full advantage of the new digital trade platform, including funded programs in more than 100 countries; and 1|P a ge

In the long term, lead research and development programs on best-in-class innovations connected with logistics, e-commerce, and all associated technologies. Positioned to be the founding member of the Academic Subcommittee, TLI Asia Pacific will work closely with peer institutions to develop the Committee s ambitious program of work around the world. These world-class universities will be able to leverage their global presence in powerful new ways. These include: Lead the development of best-in-class metrics to assess and monitor shipment efficiency, a powerful tool in moving the world to a new era of trade efficiency; Access to a global research fund free of geopolitical restrictions that is focused on innovation in trade efficiency that benefits the world. The funding can support long-term research programs and underwrite high-potential graduate students; Preferred access to an open-source technology platform (the Global Logistics System) that can enhance campus research in information technology, materials handling, global positioning systems, e-commerce, cargo security, & other high-value areas of research and development; Opportunities to participate in global, leading-edge research projects in high-efficiency logistics, next generation e-commerce, and associated technologies. These projects also have the potential to connect university researchers with GCEL s global network of world-class finance, insurance, and technology companies; Leading a unique global network of premier universities working on state-of-the-art improvements in trade, logistics, and ecommerce; and Opportunities to partner in major research projects led by the other seven GCEL subcommittees (Economic Development, Trade Development, Cargo Security, Food Safety, Disaster Impact Response, Technology, and SMEs). This enhances NUS ability to seize critical research synergies around the world and across disciplines. The Academic Subcommittee is one of the most critical groups in GCEL s global R&D program, said Captain Samuel Salloum. This network of premier institutions has an extraordinary opportunity to connect the dots, building powerful synergies among the world s leading logistics institutes and leading the drive toward sustainable global prosperity. Through this new partnership, GCEL is planning the establishment of its first worldwide endowed professorship on global trade and innovation with minimum funding of SGD 2.5 million. GCEL and NUS have committed to explore the creation and funding of this prestigious position over the next 18 months. About The Global Coalition for Efficient Logistics (GCEL) GCEL is a Swiss-based nonprofit public/private partnership. It brings together governments, the private sector, and NGOs to deliver an e-commerce platform to achieve sustainable global economic growth. GCEL s members comprise public sector members and governments from the Americas, Asia, Europe and Middle East/Africa. Private sector members include finance, technology and insurance firms with manpower of 2.7 million operating in 130 countries. GCEL s key driving program, HumaWealth, consists of soft infrastructure with three key elements: an open-source technology platform, a global network of trusted companies, and a rapid global deployment program that provides the tools, free of cost to the end users, to optimize trade, thereby promoting sustained economic growth. More information on GCEL can be found at www.gcel.net About National University of Singapore (NUS) A leading global university centered in Asia, the National University of Singapore (NUS) is Singapore s 2|P a ge

flagship university which offers a global approach to education and research, with a focus on Asian perspectives and expertise. NUS has 15 faculties and schools across three campuses. Its transformative education includes a broadbased curriculum underscored by multi-disciplinary courses and cross-faculty enrichment. Over 36,000 students from 100 countries enrich the community with their diverse social and cultural perspectives. NUS has three Research Centres of Excellence (RCE) and 22 university-level research institutes and centres. It is also a partner in Singapore s 5th RCE. NUS shares a close affiliation with 16 national-level research institutes and centres. Research activities are strategic and robust, and NUS is well-known for its research strengths in engineering, life sciences and biomedicine, social sciences and natural sciences. It also strives to create a supportive and innovative environment to promote creative enterprise within its community. For more information, please visit www.nus.edu.sg About The Logistics Institute Asia Pacific (TLI Asia Pacific) The Logistics Institute Asia Pacific was established in 1998 as a collaboration between National University of Singapore (NUS) and Georgia Institute of Technology (GT) for research and educational programs in global logistics. Modelled after the renowned The Logistics Institute (now known as Supply Chain and Logistics Institute) at GT, its vision is to be the Asia Pacific s premier institute nurturing logistics excellence through research and education. Since its formation, it has served as the training ground for aspiring logisticians, equipping them with analytical tools to meet supply chain challenges. Since 2003, the institute has been voted Asia s Best Education Course Provider at the annual Asian Freight & Supply Chain Awards for nine consecutive years. The Institute was also awarded the Best Training Provider at the Supply Chain Awards in 2009 and 2010. For more information, please visit www.tliap.nus.edu.sg For further information, contact: Stephanie Batot: Stephanie.Batot@bm.com +65 9711 8533 Piyal Banerjee: Piyal.Banerjee@bm.com +65 8165 5923 Debbie Baertschi: d.baertschi@gcel.net +6011 1281 1346 Carolyn Fong: carolyn@nus.edu.sg +65 6516 5399

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