Elite Logistics Announces Private Placement Offering

    FREEPORT, Texas--Feb. 27, 2001--Elite Logistics Inc. (OTCBB:ELOG), a leader in the burgeoning Telematics Industry, is pleased to announce that it has entered into a Placement Agent Agreement with Schneider Securities Inc. of Denver, Colo., ("Schneider") under which Schneider will raise up to $6 million for Elite by way of a Private Placement of 3 million shares of common stock at $2.00 per share.
    Pricing of the offering was determined by negotiation between Schneider and Elite. The net proceeds from the private placement will be used to finance working capital product marketing and new product development projects. The offering is expected to close prior to the end of March 2001.
    IMPORTANT NOTE: THIS RELEASE IS PROVIDED FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL SECURITIES. THE SECURITIES DESCRIBED HEREIN MAY ONLY BE PURCHASED BY "ACCREDITED INVESTORS" (AS DEFINED BY SECURITIES AND EXCHANGE COMMISSION REGULATION D) UPON COMPLETION OF A SUBSCRIPTION AGREEMENT, WHICH MAY BE OBTAINED FROM THE PLACEMENT AGENT.

    About Elite Logistics Inc.:

    Elite Logistics Inc. is the parent company of Elite Logistics Services Inc., its wholly-owned operating subsidiary, based in Freeport, Texas. Elite is a leader in the hyper-growth Telematics Industry. Telematics refers to the rapidly emerging market for on-asset vehicle communications that combines wireless data transfer with GPS positioning technology to provide location-based connectivity, security, information accumulation, tracking, mobile commerce, enhanced productivity and entertainment services.
    Elite is best known for its PageTrack(R) family of Intelligent Vehicle Systems that integrates global positioning systems and two-way wireless telemetry technology to provide Internet-enabled tracking and control of vehicles and other assets. The company provides a comprehensive solution to the security needs of private vehicle owners and the logistics needs of fleet managers. The PageTrack(R) family of Intelligent Vehicle Systems is distributed internationally through an expanding network of distributors and dealers. The company is a certified value added integrator for Motorola who also distribute PageTrack(R) throughout Latin America and the Caribbean. PageTrack(R) utilizes the paging networks of Skytel, a subsidiary of MCI WorldCom . For additional information, visit the company's Web site at www.elitelog.com.

    About Schneider Securities Inc.

    Schneider Securities Inc., founded in 1985 is a full service brokerage firm that offers a wide array of investment banking products and services. The company currently has 27 branch offices in the United States and approximately 180 registered representatives. For additional information, visit the company's Web site at www.schneider-securities.com.

    Editorial note: The above news release may contain forward-looking statements as that term is defined by the Federal securities laws. Forward-looking statements discuss future expectations, contain projections of results of operations or of financial conditions, characterize future events or circumstances, or state other forward-looking information. Although the company's management believes that the expectations reflected in such statements are based on reasonable assumptions, actual results and outcomes could differ materially from those projected.