IFS Customer Todd Pacific Shipyards Goes Live on IFS Applications Business Software.

Business Editors/High-Tech Writers

CHICAGO--(BUSINESS WIRE)--May 31, 2001

IFS customer Todd Pacific Shipyards (NYSE: TOD) of Seattle has deployed IFS Applications(TM) business software.

Todd, a wholly owned subsidiary of Todd Shipyards Corp., is using the component-based software to support the repair and overhaul of ships.

Todd MIS Director Michael Taylor said, "Because we work under strict deadlines to get ships back into operation, our greatest need is rapid identification and retrieval of parts. With the IFS system, more people than ever before can easily look up parts for an accurate and up-to-the-minute understanding of job costs.

"In addition, the IFS Document Management(TM) module has proven more powerful than we expected and will help us manage a high level of change orders. It lets all workers see what services have been authorized, and helps us substantiate our invoicing."

IFS developed for Todd a government-specific invoicing module and an enhanced interface from Primavera Project Planner(R) (P3(R)) software to IFS Applications for project planning support.

Terje Vangbo, president and chief executive officer for IFS North America, said, "It's the open architecture and component nature of IFS that enables us to easily interface with other software or to add needed functionality as we did in Todd's case for its government contracts.

"With more than 60 components, IFS Applications gives businesses unlimited flexibility for moving to the extended enterprise in incremental steps that are safe and affordable."

Todd re-engineered their business processes based on findings from the IFS Business Modeler(TM) software, and implemented IFS modules for financial, distribution, manufacturing, engineering, and project functions.

Todd Pacific Shipyards repairs and overhauls commercial and military vessels of all sizes, including barges, tug boats, fishing vessels, container ships, ferries, cruise ships, U.S. Coast Guard ships, and U.S. Navy combat ships and aircraft carriers.

About IFS and IFS Applications (www.ifsworld.com)

IFS develops and supplies component-based business applications that streamline operations in medium-sized and large enterprises, and that offer step-by-step evolution to the extended enterprise.

IFS Applications offers web-based business applications, including customer relationship management, supply chain management components, Internet storefront, e-markets and e-procurement solutions.

IFS eBusiness(TM) solutions provide seamless integration of all data sources from the fastest web sites and exchanges to legacy enterprise resource planning.

Sales of IFS Applications are the fastest growing worldwide in the market for large-scale business applications. Today IFS is one of the 10 largest companies in the world in this industry, with more than 3,600 employees and sales in 43 countries.

IFS Applications, IFS Business Modeler, IFS Document Management are trademarks of IFS Industrial and Financial Systems. All other referenced company or product names are trademarks or registered trademarks of their respective owners.