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Transervice Ends Sale Negotiations with Rentway Ltd.

6 January 2000

Transervice Logistics Inc. and Transervice Lease Corp. End Sale Negotiations with Rentway Ltd.

    LAKE SUCCESS, N.Y.--Jan. 6, 2000--Transervice Logistics Inc. and Transervice Lease Corp. announce that all negotiations have been terminated between its shareholders and Rentway Ltd., a wholly owned subsidiary of Trimac Corporation, with respect to the previously announced sale of Transervice Logistics Inc. and certain Transervice Lease Corp. assets to Rentway Ltd.
    Transervice Logistics Inc. and Transervice Lease Corp. provide dedicated third party logistics and fleet services, encompassing full service leasing, contract carriage, and contract maintenance, in the transportation and warehousing fields. Transervice Logistics Inc. and Transervice Lease Corp., both privately held companies, provide, maintain, and operate over 11,000 vehicles from over 80 locations throughout the United States.

For more information contact:

Edward Flannigan or Dennis Schneider President Executive Vice President

Transervice Logistics Inc. Transervice Lease Corp. 5 Dakota Drive Lake Success, NY 11042 Phone: (516) 488-3400 Fax: (516) 488-3574