YRC TO PURCHASE SHANGHAI JIAYU LOGISTICS

Logistics Insight Asia, 1/1/2008

YRC Logistics has entered into a definitive agreement to buy Shanghai Jiayu Logistics – one of the largest providers of less-than-truckload ground transportation services in China. Jiayu has over 30,000 customers, 1,800 employees and anetwork of over 3,000 vehicles.

“China continues to be one of the fastest growing markets for our customers and an important part of YRC Worldwide’s overall strategy,” said Bill Zollars, Chairman, President and CEO of YRC Worldwide. “The acquisition of Jiayu allows us to provide reliable ground transportation, and is the next step in building a comprehensive portfolio of logistics services for our customers in China.”

“Jiayu has outstanding technology, comprehensive network coverage throughout China and a solid management team who will stay with the company,” said Jim Ritchie, President of YRC Logistics. Completion of the acquisition is subject to Chinese regulatory approvals, restructuring of certain of Jiayu’s operations and other ordinary conditions to closing.