PBB Global Logistics

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BG Strategic Advisors Announces the Closing of the Sale of Unicity to PBB Global Logistics

March 8, 2005 (CAMBRIDGE, MASSACHUSETTS) – BG Strategic Advisors announced today that Unicity Integrated Logistics, Inc. (“UIL”) and Unicity Customs Brokerage, Inc. (“UCB”), referred to jointly as “Unicity,” have been sold to PBB Global Logistics. The purchase price was $42 million plus an additional payment of up to $3 million. BG Strategic Advisors acted as the exclusive financial advisor to Unicity in this transaction.

UIL is a pioneer in creating and providing innovative strategies and systems that minimize supply chain costs by providing international clients seamless access to the Canadian market. UCS is one of the top 10 Customs Brokers in Canada. Unicity has approximately 250 employees in more than 10 locations across North America, including major operations in Montreal, Mississauga and Winnipeg.

The purchase will provide additional supply chain solution capabilities to PBB’s existing logistics service offering through UIL’s cross-border deconsolidation, consolidation and onforwarding capabilities. UCS strengthens PBB’s customs presence in Western Canada, and augments PBB’s existing trade and regulatory service offering.

The transaction will enhance PBB’s leading market position in supplying cross-border supply chain solutions for its customers in Canada, United States and Mexico, and further diversifies PBB’s mix of services and customers. Including Unicity, PBB will employ approximately 1,350 people in 90 locations located at border crossings and air / sea locations across North America and China. On a combined basis, pro forma gross revenue, pro forma net revenue and pro forma normalized EBITDA , were approximately $450 million, $132 million and $25.4 million, respectively for the 12-month period ending September 30, 2004 (these pro forma results include the financial results of Clarke Logistics, acquired in July 2004, for the entire twelve month period). Estimated combined normalized EBITDA does not take any potential cost synergies into account.

The transaction is expected to be immediately accretive to cash available for distribution and will further enhance the stability of PBB’s cash flow. Management estimates that based on the 12-month period ending September 30, 2004, the transaction is approximately $0.13 or 7% accretive to cash available for distribution.

“There are very few customs brokers in Canada of UCS’s size and capability. We are very excited that we have seized this unique opportunity,” said Mike Scott, PBB President and Chief Executive Officer. “The acquisition of UIL’s strategic logistics capabilities demonstrates our commitment to improving our ability to serve our customers’ evolving and increasingly sophisticated supply chain management needs. In addition, we are strengthening our presence in Western Canada in our core business offerings.”

“PBB offers an excellent fit for our company,” said Ken Kotowich, President and C.E.O. of UIL. “Their values and approach to business and attention to customer service complement ours. We believe our solution capability and PBB’s global reach provide an opportunity to offer a more comprehensive package of logistics solutions to a broad customer base.”

PWC Logistics and Trans-Link Merger

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BG Strategic Advisors Announces the Closing of the Purchase of Trans-Link by PWC Logistics

March 8, 2005 (CAMBRIDGE, MASSACHUSETTS) – BG Strategic Advisors announced today that PWC Logistics, the leading provider of comprehensive supply chain solutions in the Middle East, has acquired the Asian-based Trans-Link Group, a leading specialized logistics services provider. This acquisition creates one of the world’s largest logistics services providers, giving PWC direct access to Asia’s vast markets and Trans-Link entry to the vibrant Middle East region. BG Strategic Advisors acted as the exclusive financial advisor to PWC Logistics in this transaction.

“Trans-Link’s management team has developed a company culture focused on exceeding customer expectations in a very demanding business segment,” commented Tarek Sultan, Chairman of PWC Logistics. He continued, “Their passion for delivering excellence mirrors our customer-centric approach. We look forward to being able to provide expanded services in new geographies to our combined customer base.”

The combined strengths and best practices of PWC and Trans-Link, along with the financial resources of PWC, will bolster their growth throughout Asia and the rest of the world. Trans-Link’s customers will benefit from PWC’s strong market presence and expertise in the Middle East while PWC’s customers will have greater access to Asia and the Pacific Rim countries as well as an expanded range of services.

Bernard Chow, Executive Chairman of Trans-Link Group, said, “Today’s announcement is a defining moment for all of us. This is a winning transaction which will provide a very strategic advantage: By integrating the skills from both sides and leveraging each other’s expertise and competitive capabilities, we will be able to provide enhanced operational excellence and leading-edge technology to our international and diverse customer base. I see this strategic combination as even more significant in light of Singapore’s Senior Minister, Mr. Goh Chok Tong’s speech last August at a National Day event in which he said, “There is one region which I want to develop closer ties, and that is the Middle East….I want to foster greater understanding between Asia and the Middle East. I want to build a bridge between our two regions…”

About Trans-Link Group

Headquartered in Singapore, the Trans-Link Group was established in 1982 with the formation of Trans-Link Express Pte Ltd. With sound management practices, business prowess and a strong belief in providing customer-centric excellence, it has today distinguished itself as a leading world-wide logistics service provider with international offices in Asia, South Africa and Latin America. The Group’s forte lies in specialized logistics services in the areas of Exhibition and Event Logistics, e-Fulfillment and Project Forwarding.

About PWC Logistics

PWC Logistics is the leading provider of end-to-end supply chain solutions in the Middle East. Through its network of warehouse facilities and transportation services, PWC provides its customers with flexible supply chain solutions tailored to meet their business needs. PWC’s strong focus on customer service has won it numerous awards from both industry experts and customers. The Global Institute of Logistics named PWC “Best 3PL in the G.C.C. 2004” and the Defense Logistics Agency (DLA) recently named PWC “New Vendor of the Year” for 2004. PWC is a publicly traded company listed on the Kuwait Stock Exchange (ticker symbol WARE), with a market capitalization of approximately US$4 billion.

Reliant Equity Investors Acquires Air Road Express

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Leading Third Party Logistics Company purchased by former Wal-Mart Supply Chain Management Executive

AUGUST 20, 2003 (INDIANAPOLIS, INDIANA) – Air Road Express (Air Road), a leading provider of outsourced Supply Chain Management and time definite transportation services based in Indianapolis, has been acquired by Steve Robinson, a former Vice President of Logistics for Wal-Mart, and Reliant Equity Investors, a Chicago based private equity firm. The new company will operate under the name of Air Road Logistics, and will continue to be based from its current headquarters in Indianapolis.

Air Road offers supply chain solutions including air and ground-based freight expediting, full truck load transportation, warehousing, distribution, inventory management, outsourced transportation management, and third party vendor-managed inventory (VMI). Air Road specializes in exclusive NAFTA-oriented LTL consolidations from origin points in the East and Midwest to every major border crossing gateway into Mexico. Today Air Road primarily services the Automotive & Industrial, Retail, Consumer Electronics and Consumer Packaged Goods industries.

“We sought to acquire a leading logistics firm, with a broad range of services, a track record of profitable growth, and a loyal customer base,” said Roy Roberts, Managing Director of Reliant Equity Investors and former Group Vice President of General Motors. “Air Road was an ideal fit. We are delighted to announce this acquisition, committed to funding the company’s growth, and very excited about Air Road’s future.”

The Air Road management team will retain the talented executives who have built Air Road, while supplementing it with additional outside leadership. Heading the new company will be President and CEO Steve Robinson, former Vice President of Supply Chain Management and Global Logistics for Wal-Mart. Robinson is a well-known industry veteran, with over 25 years experience running operations for i2 Technologies, CNF, UPS, and Roadway. Joining him as President of the Logistics Group will be Frank Lapierre, former Chief Operating Officer of 3PL Copera, and co-founder of Mitsui USA. Other new executives include Senior Vice President of Sales Thomas C. Donovan, former Sales VP for APL Logistics; Chief Technology Officer Ganesan Ramanathan, former Senior Director of Core Technologies for Siebel; Director of Distribution Heinz Ahlborn, former Chief Solutions Design Engineer with SwissLog; and Automotive Sales Director Larry Gordon, former National Automotive Account Executive with CF Motor Freight.

“Our vision is to expand our services and geographies for Air Road’s customers, so that we can deliver leading-edge, fully-integrated supply chain solutions while maintaining Air Road’s reputation for high service quality,” said Robinson.

This new team complements the current management strength of Air Road. Dan Frieden will continue to serve as President of Ground Transportation, drawing on his track record as President of Greyhound Southern and President of Zipp Express. Ernie Krebs will continue as CFO, leveraging his experience as CFO of Zipp Express. Charlie Geyer will remain Senior Vice President of Logistics Operations. Jim McCrary will continue as Vice President of Regional Sales. The full team will remain intact.

“Our new company will boast a combination of over 150 years of combined supply chain operating experience and world class know-how rarely found in the current world of transactional outsourced logistics,” said Frieden.

“The game has changed for 3PLs,” said Robinson. “As industry consolidation continues, the commoditized logistics providers of the past are being replaced by truly integrated supply chain partners. With our technological expertise, operational excellence, and industry best practices, Air Road can lead the way in differentiating solid supply chain management from really good logistics. We look forward to providing our customers with both types of leading-edge solutions in the years to come.”

BG Strategic Advisors arranged the transaction between the two parties.

About Air Road Express
Air Road Express was founded in 1989 and offers supply chain solutions including air and ground-based freight expediting, full truck load transportation, warehousing, distribution, inventory management, outsourced transportation management, and third party vendor-managed inventory (VMI). The Company also offers a variety of premium, time definite transportation services. Air Road Express’ customer base includes a growing roster of Fortune 500 companies in numerous industries, including automotive and industrial, retail, consumer electronics, and consumer packaged goods. For more information on Air Road Express, visit www.airroad.com.

About Reliant Equity Investors
Reliant Equity Investors, LLC, is a Chicago-based private equity firm that focuses on buyouts and later-stage growth oriented investment opportunities. A key attribute of its strategy is to partner with world-class executives and jointly pursue investment opportunities in targeted industry sectors. Reliant’s principals draw on 25 years of private equity investing experience and 57 years of operating experience.