Teekay Shipping Corporation Chooses pbviews to Automate Its Performance Management Initiative TORONTO, June 22 /PRNewswire/ -- Panorama Business Views announced today that Teekay Shipping Corporation, the leading provider of international crude oil and petroleum product shipping services, has acquired pbviews to manage their Performance Management and Balanced Scorecard initiatives. By implementing pbviews, Teekay is distinguishing themselves as innovators within their field. (Logo: http://www.newscom.com/cgi-bin/prnh/20030430/PBVLOGO ) With the ongoing growth and diversity of their business, Teekay recognized a need for an enhanced Performance Management system. They required a solution that was web-enabled, could be used from any of their worldwide locations and could connect to a third party database engine. With pbviews, Teekay's users can manage any aspect of their Performance Management initiative, regardless of location. As they continue to focus on Performance Management as a key strategic tool, the alignment and communication of Teekay's strategy, initiatives and KPIs are now more critical than ever. pbviews will allow Teekay to manage: overall corporate mission and vision; KPIs and Balanced Scorecard initiatives for business units, departments and individual employees. Graham Westgarth, President of Teekay Marine Services stated, "We have been focusing on linking the company's vision to performance metrics for several years and we consider pbviews to be an outstanding tool in assisting us to promote this concept as well as providing real time performance data throughout our global organization." "As a leader in crude oil and petroleum product transportation services, Teekay understood the need to reinforce this leadership position with an effective, automated Performance Management solution that could track their key deliverables in a clear and concise fashion," said Michael Tipping, President & CEO, Panorama Business Views. "pbviews, with its web-based application and ease of use, will be the tool to enable this initiative." About Teekay Shipping Corporation Teekay Shipping Corporation is the leading provider of international crude oil and petroleum product transportation services, transporting more than 10 percent of the world's sea-borne oil. With offices in 14 countries, Teekay employs over 4,700 seagoing and shore-based staff around the world. The Company has earned a reputation for safety and excellence in providing transportation services to major oil companies, oil traders and government agencies worldwide. Teekay's common stock is listed on the New York Stock Exchange where it trades under the symbol "TK". For more info on Teekay, visit http://www.teekay.com/. About Panorama Business Views With its innovative software, a decade of practical expertise and unparalleled customer support, only Panorama Business Views offers an end-to- end Performance Management solution that is scalable to meet the needs of any organization, today and in the future. With over 400 Fortune 1000 and government customers including: Motorola, General Motors, Siemens, Conseco, Bank of America, Verizon Communications, Cardinal Health and Zachry Construction Corporation, Panorama Business Views continues to set the standard for Performance Management. For additional information, visit http://www.pbviews.com/. http://www.newscom.com/cgi-bin/prnh/20030430/PBVLOGODATASOURCE: Panorama Business Views CONTACT: Mike Etzinger of Panorama Business Views, +1-800-449-3804 ext. 515, or Web site: http://www.pbviews.com/ http://www.teekay.com/

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