PIERS(R) Trade Horizons Reports: U.S. Exports Forecast to Reverse Growth Trends as Recession Slows Global Commerce

NEWARK, New Jersey - The global recession began to hammer waterborne commerce during the
second half of 2008, according to the latest containerized import-export
statistics from PIERS Trade Horizons. The just-released numbers dash any
lingering hopes that demand from emergent economies for U.S. exports would
provide a silver lining in an otherwise darkening outlook.

PIERS Trade Horizons reports that U.S. imports, which had been declining
since the start of 2008, plunged 10.5% in the last quarter to end the year
down 7.9% from 2007. PIERS Trade Horizons had forecast a drop of 7.6%.

U.S. exports, which had continued to grow in the first three quarters of
2008, albeit at a slowing pace (20.8% in first quarter, 13.5% in the second
and 9.0% in the third), went into sharp reverse, falling 16.9%. While exports
finished 2008 up 5.8%, the year’s gain compares poorly with the 17.5% growth
recorded in 2007. PIERS Trade Horizons had forecast 9.7% growth.

PIERS Trade Horizons statistics on U.S. containerized trade with the rest
of the world are the latest available. The quarterly publication recently
announced processing improvements that enable even earlier release of
verified data: Effective in 2009, data on the actual number of TEUs
(20-foot-equivalent units - the standard container measure) shipped during a
quarter will be released one month after the close of that quarter.

PIERS Trade Horizons also forecasts container trade two years out. PIERS
economists are anticipating a relatively long-lived recession and a U-shaped
recovery where flattened growth persists for a prolonged period. This
contrasts with a V-shape recovery where steep decline is quickly followed by
steep recovery. More, economic prospects are poor around the globe.

The impact on U.S. container trade will be significant. PIERS Trade
Horizons forecasts a 2.8% decline in import volumes this year, and a weak
recovery to 1.5% growth in 2010. Exports, which posted a 5.8% gain last year,
are forecast to contract 6.6% in 2009 and fall a further 1.3% in 2010.

About PIERS Trade Horizons

PIERS Trade Horizons provides comprehensive quarterly statistics on U.S.
waterborne import-export trade on the past two years, forecasts trade
quarter-by-quarter two years out, and analyzes the commercial and economic
factors driving the numbers.

Members of the media may direct inquiries to +1-973-848-7151. For
information on subscribing to PIERS Trade Horizons, contact +1-800-952-3839,
extension 7175.

About PIERS Global Intelligence Solutions

PIERS is the primary source of U.S. waterborne trade information and a
leader in global trade solutions. Launched over 30 years ago by The Journal
of Commerce as the Port Import Export Reporting Service, its first venture in
electronic information, PIERS quickly became the standard reference on
container trade for the maritime industry.

A roster of over 6,000 private industry, trade association, and domestic
and foreign government clients, representing more than 40 countries, relies
on PIERS to translate trade data into meaningful intelligence that guides
their global business strategies. For more information visit www.piers.com

About UBM Global Trade

UBM Global Trade, formerly Commonwealth Business Media, Inc., has been
the leading provider of proprietary data, news, business intelligence and
analytical content supporting commercial maritime, rail, trucking,
warehousing and logistics industries worldwide since 1827. The company’s
portfolio of more than 100 online, print and interactive workflow business
solutions includes The Journal of Commerce, The Journal of Commerce
Conferences, PIERS Global Intelligence Solutions and an array of
international trade and transportation databases and directories. UBM Global
Trade, a subsidiary of United Business Media Limited, is headquartered in
East Windsor, NJ, with offices throughout the United States and in Canada and
Hong Kong. For more information, explore www.ubmglobaltrade.com or
call +1-800-221-5488 (+1-609-371-7700 outside the U.S. and Canada).

About United Business Media Limited

UBM (UBM.L) focuses on two principal activities: worldwide information
distribution, targeting and monitoring; and, the development and monetization
of B2B communities and markets. UBM’s businesses inform markets and serve
professional commercial communities - from doctors to game developers, from
journalists to jewelry traders, from farmers to pharmacists - with integrated
events, online, print and business information products. Our 6,500 staff in
more than 30 countries is organized into specialist teams that serve these
communities, bringing buyers and sellers together, helping them to do
business and their markets to work effectively and efficiently. For more
information, go to www.unitedbusinessmedia.com.

Source: PIERS Global Intelligence Solutions

Beth Adams, Director of Marketing Communications of PIERS Global Intelligence Solutions, +1-973-848-7151, or badams at piers.com