For Immediate Release

PBB Global Logistics Acquires Unicity
Acquisition strengthens size, scope of PBB’s cross-border supply chain solutions

Fort Erie, Ontario –March 1, 2005 – PBB Global Logistics has moved to enhance its range of solutions in North American cross-border supply chain management by completing a $42 million acquisition of Unicity Integrated Logistics Inc. (UIL) and Unicity Customs Services Inc. (UCS). 

“ This move significantly increases our market share in both the customs brokerage and third party logistics segments of our business,”said Ken Chalmers, President & CEO, PBB Global Logistics. “We anticipate significant synergies for our mutual customers, as we share best practices in the delivery of our integrated customs, trade and logistics services.”

With the addition of the two Unicity companies, PBB will employ approximately 1,350 people in over 90 locations across North America. Within a period of less than a year, during which the company has also acquired Clarke Logistics, PBB’s workforce has increased by 50%.  PBB will now process over 2.5 million transactions per year and has pro-forma gross revenues of approximately $450 million, based on the 12-month period ending September 30, 2004 (these pro forma results include the financial results of Clarke Logistics, acquired in July 2004, for the entire twelve month period).

In business since 1972, UIL parallels PBB as a pioneer in providing innovative third party strategies that give clients a seamless access to the North American market. “PBB offers an excellent fit for our company,”said Ken Kotowich, President and C.E.O. of UIL. “We believe our solution capability and PBB’s global reach provide an opportunity to offer a more comprehensive package of logistics solutions to a broad customer base.”

UIL’s strength in consolidation, deconsolidation and onforwarding positions it as a leader in cross-border warehouse elimination, a cost-effective and practical logistics solution for many Just-in-Time shippers.  The move adds some 300,000 sq. ft. of space to PBB’s existing network of regional distribution centers across North America, including new locations in Winnipeg, Chicago and Tillsonburg, Ontario.

UCS, the customs brokerage arm of Unicity, has been in business since 1978. According to Dwight Casson, President of UCS, “Merging our business with PBB is a natural step for us. We see significant growth potential for our combined businesses and people.” 

The acquisition combines the market coverage, expertise and capabilities of two of Canada’s largest brokerage operations, and complements PBB’s status as one of the top customs filers in North America. With six of its eight locations in Western Canada, Unicity enhances PBB’s presence in the region. The move also gives customers of both companies the opportunity to benefit from enhanced flexibility in customs release locations. 

Like PBB, Unicity offers a full end-to-end solution for Non Resident Importers, whereby U.S. companies can access the Canadian marketplace without having a physical presence in Canada. This includes regulatory advice prior to shipping, consolidation and transportation services, the efficient clearance of goods through Canadian customs and distribution to the end customer. 

With complementary processes and systems, PBB intends to merge the two brokerage operations over the course of the next few months, ensuring a seamless transition. And although UIL will continue to operate on a stand-alone basis for an indefinite period of time, both customer bases can capitalize on the enhanced access to a larger range of logistics options.

 “ We have a strong outlook on demand for the cross-border logistics component of our global solutions, delivered in conjunction with an expert customs and trade strategy,”said Mr. Chalmers. “Our acquisition of Unicity positions us well for growth in a marketplace that looks increasingly to third party logistics providers to manage the complexities and risks of international trade.”

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 global freight operations and now provides supply chain solutions, from the point of origin of goods to the point of consumption, as well as intermodal capabilities, professional trade services and corporate travel management. With approximately 1,350 employees in over 85 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