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Professional Transportation Group Ltd. Inc. Announces 120 Day Extension of Its Credit Facility

2 June 1999

Professional Transportation Group Ltd. Inc. Announces 120 Day Extension of Its Credit Facility

    MARIETTA, Ga.--(BUSINESS WIRE)--June 1, 1999--Professional Transportation Group Ltd. Inc. (Nasdaq Small Cap:TRUC) (Nasdaq Small Cap:TRUCW) Tuesday announced that it has reached agreement with SouthTrust Bank N.A. to extend the maturity date for its credit facility with SouthTrust for 120 days ending 9/30/99, terms and conditions similar to existing agreement.
    The credit facility was scheduled to mature on May 31, 1999.
    Dennis A. Bakal, Professional Transportation Group Ltd.'s chairman and chief executive officer, stated: "We are pleased that we have been able to work out this extension with SouthTrust. This extension reflects SouthTrust's recognition of our recent improved financial results. We have had a good relationship with SouthTrust and hope that this extension will allow us to work with them for a longer term solution to our liquidity needs. We continue to have discussions with other potential lenders to give us the option of alternative arrangements in the event that we are unable to continue our relationship with SouthTrust."
    With headquarters in Marietta, Professional Transportation Group Ltd. is a transportation services company which provides ground transportation and logistics services for the air freight and carpet industry throughout the continental United States through its subsidiaries, Timely Transportation Inc. and Truck-Net Inc.

    This release contains statements which constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors discussed herein and those factors discussed in detail in the company's filings with the Securities and Exchange Commission, including the "Risk Factors" section of the company's Registration Statement on Form S-3 (Registration Number 333-70985), as declared effective by the Securities and Exchange Commission on Feb. 5, 1999.