For Immediate Release

PBB Global Logistics Joins World Freight Alliance

FORT ERIE, ON August 17, 2004 –In the increasingly complex world of international trade, global shippers are relying on the expertise of their logistics partners to handle the complexities of moving freight globally. In response to this demand, many logistics companies are looking to freight forwarding networks as a way to offer seamless international freight services.

Recently, PBB Global Logistics became a member of the World Freight Alliance (WFA). PBB, one of six founding members of the WFA, will serve as a North American partner, and the sole Canadian representative in the alliance, joining with other world class organizations to offer global freight coverage. The WFA is an organization of freight forwarders with established operations in over 200 countries. Members represent the very best in freight and logistics in their respective countries, with only one representative from each country around the globe. Membership must be approved by the WFA Board of Directors.

Increasingly, networks and alliances are being formed to allow for the offering of services at the same level as multinational organizations. The WFA achieves that aim, allowing businesses around the world to ship and receive international freight seamlessly. “It’s ‘think global, act local’,”says Mike Scott, President & CEO, PBB Global Logistics. “You can have the standardization and cohesiveness of a multinational with the localized cultural and geopolitical knowledge of a domestic company."

Partnerships are not new in the freight business. In fact, PBB has a long history with many of the WFA members [primarily through the former Airborne network]. “These companies represent the best of class in their respective countries. Collectively, the strengths of the group are formidable,”says Scott.

As globalization continues to be a fact of life in the day-to-day operations of many companies, access to a reliable, flexible global logistics provider is becoming increasingly important. The WFA offers significant advantages to international traders including substantial buying power, completely integrated information technology systems and flexibility in scope and coverage.

The move to join the WFA represents a change for PBB, who has chosen to leave its previous network in favor of the WFA. “The nature of global trade demands a fast-paced, progressive approach to shipping,”comments Scott. “WFA offers a fresh approach, with companies that share the same vision of an integrated, seamless system.”PBB will also be taking a leadership position in WFA, with Mr. Scott serving on the Board of Directors.

About World Freight Alliance

The World Freight Alliance (WFA) is an organization of freight forwarders having long-established operations in 200 countries worldwide. The goal of the WFA is to attract the best independent logistics and transportation firms in every marketplace throughout the world. The individual members have a wealth of experience and knowledge of the movement of goods worldwide, and are the most experienced and qualified in freight transportation industry today. Established in December 2003, the World Freight Alliance provides a full range of time-definite air, ground, and ocean freight services, as well as logistics, warehousing, customs brokerage and IT solutions.

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 1,100 employees in over 80 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, please contact:
1-800-924-4466 ext. 3634
info@pbb.com
www.pbb.com