The Descartes Systems Group Inc. ("Descartes") (NASDAQ:DSGX) (TSX:DSG) develops e-business solutions for customer fulfillment networks. Descartes' industry-specific, prepackaged solution portfolios and its componentized applications let companies create high-performance customer fulfillment networks - DeliveryNets. These solutions empower organizations to deliver reliable, responsive customer service in a profitable manner and create innovative new products and services. Descartes' customers include such notable companies as: Earthgrains, Dunkin Donuts, Coca-Cola Bottling, Canada Dry, Coors, Miller Brewing, Packard Bell, Philips Electronics, Ericson, GTE, Guaranteed Overnight Delivery, Emery Worldwide, New York Times, Los Angeles Times, Dayton Hudson, Dixon Paper, Dunbar Armored, Brinks, Marriott International, and Whirlpool Corporation.

Our initial investment in Descartes was made September 1996, with subsequent investments in May 1997 and October 1997. Descartes went public on the TSX in January 1998 and on NASDAQ in January 1999.