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CTSI Successfully Completes SAS 70 Type II Audit

Continental Traffic Service, Inc. (CTSI) a leading provider of third party logistical software and services announced today that it has successfully completed a Statement on Auditing Standards (SAS) No. 70 Type II Audit for the twelve month period ending October 31, 2005.  The SAS 70 Audit was performed by a locally recognized public accounting firm on CTSI’s freight payment and audit process.

Successful completion of SAS 70 Type II audit indicates that CTSI’s processes, procedures and general controls have been formally reviewed. The systems and processes evaluated in this audit include freight bill authorization, test of duplicate payments, freight bill audit, carrier payment, claims processing, security monitoring, change management, backup controls, logical and physical access.

CTSI was able to satisfy the requirement of the SAS 70 Type II audit, which places the highest level of scrutiny under SAS No. 70 on the company's operational controls and procedures. SAS No. 70 is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). A SAS 70 Type II Audit is an in-depth analysis of a service organization's control over information technology and related processes and is often required by public companies for compliance requirements or other companies that want assurance that processes, procedures, and general controls meet the industry's highest standards and best practices.

“With the increased emphasis on security and integrity in today's business environment, and a concern for regulatory standards, such as Sarbanes-Oxley, we believe that the successful completion of the SAS 70 Type II Audit will help to assure our customers that they can trust the freight payment and audit processes performed by CTSI,” said Ken Hazen, President and Chief Executive Officer of Continental Traffic Service, Inc.