For Immediate Release:

MagneMotion and Swisslog Cooperate on Development of Revolutionary

Material Handling System - MagneTrak

Acton, Massachusetts (March 7, 2000)

MagneMotion Inc. announced today that the company has been working in cooperation with Swisslog AG of Buchs Switzerland to develop a unique material handling system based on MagneMotion’s linear motor and electro-magnetic technology. The culmination of this effort will be the unveiling of the MagneTrak transport system in Germany at the CEMAT 2000 Material Handling Show as part of the upcoming Hannover Fair, March 20 - 25.

"We are fortunate through our cooperation with Swisslog to have the opportunity to introduce this exciting new product at the world’s largest industrial trade show," said MagneMotion’s President, Dr. Richard Thornton. "The MagneTrak system is truly a major advancement in material handling system technology and we look forward to demonstrating its unique capabilities in the Swisslog booth at Hannover".

Engineers at MagneMotion and Swisslog’s Translift division in Kriens Switzerland have been working in close cooperation for more than a year, taking core technologies developed at MagneMotion and applying them to the design of a commercial material handling system with unparalleled capabilities. The MagneTrak transport system features individual vehicles that move along a track containing linear motors for highly controlled propulsion, patented magnetic guidance and switching systems to steer vehicles through complex track networks and switch them instantaneously without mechanical moving parts. The system also uses MagneMotion’s Precise Position Sensing Technology for constant and accurate tracking of vehicles and payloads and an intelligent control system for safe, reliable, real-time control of a large number of vehicles traveling with very short headway (distance between vehicles). MagneTrak can be installed upright along the floor or in a suspended configuration along the ceiling and is ideally-suited to address the throughput, flexibility and real-time tracking needs of e-commerce applications.

The MagneTrak system is to be marketed by Swisslog under an exclusive licensing agreement, through the company’s worldwide network of sales and customer support offices. The product will be managed out of the Swisslog Translift offices in Kriens.

Founded in 1996, with roots at the Massachusetts Institute of Technology, MagneMotion is a developer of innovative products based on electro-magnetic technology. The rapidly growing company is applying its systems and technologies to fields such as material handling, process automation, robotics and people transportation. MagneMotion is a privately held company.

Swisslog AG, a multinational logistics automation company, provides integrated solutions covering the entire spectrum of computer-controlled information and materials flow technology. A recent issue of Modern Materials Handling magazine identified Swisslog as the fifth largest company in the material handling industry.

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Contact: Peter Mattila

Director of Business Development

(978) 461-5090 extension 223

Email: pmattila@magnemotion.com

Web: www.magnemotion.com

MagneTrak is a registered trademark of Swisslog Holdings AG