Letter from the Chairman
February 2006

Observations from Tom Weisz, Chairman of the Board, TMW Systems

Dear Fellow Executive:

As we close the books on 2005, I want to share with you what a momentous year it was for TMW and how it bodes well for all of our stakeholders for the years to come.

I am referring to two significant events for our company in 2005: 1) the smooth transition of ownership to Wachovia Capital Partners and Peppertree Capital Management and 2) the record-breaking growth of TMW that solidifies our position as the largest supplier of TMS systems in North America.

In 2005, we posted record revenues of more than $26 million marking our 23rd consecutive year of revenue growth.

Clearly, these are not empty boasts. In days where everyone seems to make unsubstantiated claims like being the leader or making smooth transitions, we all instinctively tune out these assertions. But to that end, as our tagline states, TMW’s “Numbers Speak Louder Than Words.”

One inherent advantage of being a private company is that you are not mandated to expose financial results to the public. However, we recognize that as a customer, you are more than just “the public”; you’re a critical TMW stakeholder. You’ve put your businesses in our hands, and we owe it to you to break that “code”. So, it is with great enthusiasm that we share with you the success we enjoyed over the past year.

We added 83 new customers in 2005, bringing our active customer base to nearly 550 carriers managing more than 130,000 trucks. And, to support all of this growth, we added 23 new employees to ensure the highest level of service that you have grown to expect. In fact, in our annual customer satisfaction survey, results concluded that 95% of our customers rated TMW service and support 4 or higher on our 5 point scale.

Of course, our acquisition by Wachovia Capital Partners and Peppertree Capital Management was one of the highlights of 2005. Substantiated by our end of year, and particularly our fourth quarter results, we haven’t skipped a beat. The most significant change, as I said four months ago, is that TMW now has access to more resources to allow us to bring new products and services to you even faster.

As I speak of these new products, our customers found great value to our 2005 new product portfolio. We introduced four new products and numerous modules and enhancements to TMWSuite and TL2000. Many of these tools were developed to address your most critical business issues, including driver retention, rising fuel costs and dispatch productivity.

As we look to 2006, carriers will continue to face these same challenges--so we’re not done helping yet. As well received as last year’s product portfolio was, this year will be even more exciting. These solutions will clearly and undeniably demonstrate our leadership and visionary status in the industry.

In 2006, watch for these new products: 
- LoadView XT, a productivity enhancement solution for critical load planning
     activity in TMW’s AS/400-based TL2000 platform. 
- DriverSeat, a portal to improve your driver retention. 
- IDA, a load optimization tool.
- Workflow Manager- solution that will automate your exception handling routines.

As we move forward in 2006, TMW’s technology will continue to play a significant role in enabling you to overcome the barriers to your profitability and productivity. We look forward to helping your organization reach even greater heights in 2006 and beyond.


Regards,

Tom Weisz
Chairman

Press Release Date

2/1/06