For Immediate Release

PBB Honored as One of Ontario's Best
Recognized by Ontario Chamber of Commerce for Outstanding Business Achievement

Toronto, Ontario - October 17, 2003 –Ontario Premier Dalton McGuinty was among the dignitaries in attendance as the Ontario Chamber of Commerce honored PBB Global Logistics at a gala dinner last night at the Metro Toronto Convention Centre.

PBB was among five companies recognized for Outstanding Business Achievement, the Chamber’s top annual award. Judging is based on a number of criteria, including sales and export growth, increased employment, product innovation, technological advancements, and general entrepreneurial skill.

A true Ontario success story, the company springboarded from its early roots in the Niagara region to become an international logistics leader. With approximately 900 employees in over 70 strategic locations throughout North America and an established global network of logistics service providers PBB’s supply chain solutions are instrumental in helping many other Ontario businesses trade with the world.

“This is a tremendous honour,”said Mike Scott, President & CEO, PBB Global Logistics. “For over 55 years on the forefront of international trade and logistics, we have taken pride in helping Ontario’s business community reach new export markets. This award is a testament to our achievement in this area and a tribute to all our employees –not just everyone in Ontario but across North America.”

Mr. Scott recognized PBB’s Sarnia office, which had been awarded the Business Advocate Award and the Business Excellence Award by the Sarnia-Lambton Chamber of Commerce earlier in the year, thereby qualifying PBB for the 2003 province-wide awards.

The judging panel was impressed by PBB’s steady growth in recent years, by the expertise of its people and by management’s solid business strategy for advancing integrated supply chain solutions. Notable achievements include an expanded North American network through a series of key acquisitions, most recently the purchase of Carrier Connection International, a specialist in temperature-controlled transportation. PBB’s commitment to emerging markets –particularly China –and to new supply chain management technologies were also highly rated.

“We are proud to honour PBB Global Logistics and tonight’s other award winners for the contribution they bring in enhancing Ontario’s reputation as one of the world’s most competitive jurisdictions in which to do business,”said Len Crispino, President & CEO, Ontario Chamber of Commerce.

PBB Global Logistics is a leading provider of third party international logistics services, facilitating the movement of goods across North America and around the world. Founded in 1946, PBB has expanded its core Customs brokerage and freight operations and now provides supply chain solutions, from the point of origin of goods to the point of consumption, as well as corporate travel management and professional trade services. With approximately 900 employees in over 70 strategic locations throughout North America and an established global network of logistics service providers, PBB has the technology, expertise, and infrastructure to meet every supply chain need. PBB Global Logistics is a wholly owned subsidiary of PBB Global Logistics Income Fund with units trading on the Toronto Stock Exchange under the symbol PBB.UN.

For more information contact:
1-800-924-4466 ext. 3634
info@pbb.com
www.pbb.com