The Yucaipa Companies Close Acquisition of TDS Logistics

LOS ANGELES, Aug. 31, 2004 -- The Yucaipa Companies ("Yucaipa"), a Los Angeles-based private equity firm, announced today that it has acquired TDS Logistics, Inc. ("TDS"), a global automotive logistics supplier. Terms of the deal were not disclosed.

Founded in 1986, TDS is one of the world's leading suppliers of value-added material handling logistics solutions to the automotive industry. TDS has become a preferred vendor for some of the major automotive original equipment manufacturers (OEMs) including BMW, DaimlerChrysler, Ford Motor Company, General Motors, and Volkswagen.

A leader in the automotive logistics market, TDS has over 5,000 employees around the world. TDS maintains a global presence with 33 operations in nine countries on four continents including North and South America, Europe, and Asia. This presence provides the Company with a significant competitive advantage, as its OEM and Tier 1 customers are increasingly looking to source their logistics services through suppliers who can support their business on a global basis.

"TDS has long been an innovative leader in automotive logistics and is well positioned for growth," said Ron Burkle, Managing Partner of The Yucaipa Companies. "Led by a strong management team, TDS has a talented and highly driven workforce with an outstanding record of business development and operating performance. We look forward to coupling our logistics expertise with TDS' proven management team to bring increased value to the TDS customers."

"Yucaipa's investment will provide TDS with additional resources to service our clients and continue expanding into emerging markets," said Jos Opdeweegh, President & CEO of TDS. "Yucaipa has consistently brought its strategic, financial and operational expertise to the companies it has owned."

About Yucaipa

Founded in 1986, The Yucaipa Companies has completed mergers and acquisitions valued at more than $30 billion. Yucaipa is a premier private equity investment firm in the retail, logistics and manufacturing industries.

About TDS

Founded in 1986, TDS is one of the world's leading suppliers of value-added material handling logistics solutions to the automotive industry. Its Inbound Logistics offering (where TDS handles the flow of parts into an OEM plant) includes supply chain management, sequencing, sub-assembly and kitting, while Outbound Logistics (where TDS handles parts or vehicles being shipped to export markets) involves supply chain management, export packing including preservation, kitting, deconsolidation, parts distribution, packaging engineering and design services, and transportation management. By combining its Inbound and Outbound capabilities, the Company is able to offer comprehensive market-to-market automotive logistics solutions.