OILspace And Network Optimum Announce Partnership To Develop Next Generation Energy Supply Chain Management Solutions.

London, March 2, 2006

OILspace®, www.oilspace.com, a leading provider of real-time, on-demand supply chain management and market information applications for energy companies, and Network Optimum, a ICT Solutions & Strategic Services provider to the process industry sector, today announce a wide-reaching agreement to partner in the delivery of global supply chain management solutions for the oil, gas, petrochemical and related industries.

OILspace and Network Optimum will work together towards providing integrated tools to optimize and synchronize demand and supply management through the value chain from crude and refined product acquisition, through manufacturing, to trading and distribution.

"The ability to understand holistically all the constraints in the supply chain has been a desire of industry executives for years," says OILspace president & CEO Steve Hughes. "We are excited to be working with Network Optimum towards realizing that ambitious goal."

The partnership between OILspace and Network Optimum merges the ideas, resources and unmatched management experience of two fast-growing technology solution companies. More than visionaries, the management of the two companies have strong track records with top corporates including Shell, SAP, BP, I2 Technologies, Chevron and dozens of other upper-echelon oil and gas companies.

"The combined team has over 300 man years of industry knowledge," says Network Optimum CEO, Cornelis Heesbeen. "We know from our regular and close contact with key companies in the oil, gas, petrochemicals and logistics industries that our work together is going to be watched closely and with anticipation."

About Network Optimum:
Network Optimum is a fast-growing ICT services group active in the entire EMEA (Europe, Middle-East & Africa) region. The company is led by a seasoned management team, with experience in companies like i2 Technologies, SAP, Shell, InterAccess, Quaker, and others. Its three business units Channel Management, Strategic Consultancy and Software Development focus on the sales, marketing, distribution, and development of ICT products and services. Together with a strong network of partners and strategic consultants, Network Optimum strives for the lowest total cost of ownership for its customers, achieving competitive advantage and creating agile organizations. For more information about Network Optimum, you can contact info@networkoptimum.com or www.networkoptimum.com

About OILspace®:
OILspace is a leading global provider of real-time on-demand, web-based applications for oil, gas and petrochemical marketing and supply operations. Launched in 1999, OILspace solutions now run through over 400 companies of all sizes and roles within the energy supply chain. OILspace has a proven track record for delivering scalable solutions that produce measurable returns-on-investment (ROI). OILspace applications include OILwatchsm, the real-time and historical market data portal with analytical tools, and news and prices from global industry exchanges and media sources. OILwatch is flexible and mobile and fully accessible via any internet enabled device, including workstation, laptop, Pocket PC, PDA and BlackBerry devices. ASPect Office®, a suite of integrated front and mid-office applications, solves supply chain challenges, and links operations, processes and data across multiple offices and assets. It provides management with visibility and the tools to measure, manage, monitor and improve business through performance metrics. TeamWorks® makes oil transactions and distribution easier, more efficient and more profitable for the shipping community. Integrated oil companies, traders, charterers, fleet owners and brokers collaborate to maximize results.

Contacts:

OILspace US/ Canada
Brigette Gebhard
bgebhard@oilspace.com
+1 732 797 0046

EMEA PR Agency
Kevin Fiske
kevin@sagepartnership.com
+44 1189 344007

OILspace Asia-PAC
Kishor Sujanani
ksujanani@oilspace.com
+86 21 6122 1075

Network Optimum Europe
wouter.de.klein@networkoptimum.com
+31 646 280 545