Montreal, January 24, 2005 — TransForce Income Fund (TSX: TIF.UN), the leader in the
Canadian transportation and logistics industry, today announced that it has signed a letter of intent
to acquire Porter Trucking in Calgary, Alberta. The agreement is subject to customary closing
conditions and is expected to close on February 15, 2005.
Porter Trucking has operated as a Less-Than-TruckLoad and TruckLoad carrier in Western Canada
since 1963. Servicing all western Canadian centers with 10 terminals in Canada, Porter generates
approximately $33 million in revenue on an annual basis.
“Porter Trucking has been a long-standing partner of our TST Overland Express Division, providing
TST with seamless service throughout western Canada,” said Alain Bédard, President and CEO of
TransForce. “We are pleased to include Porter in the TransForce group of companies. Its addition
will strengthen the relationship between Porter and TST and expand our presence in Western Canada.”
“Porter Trucking will support TST in the ExpressLink partnership, the North American network that
serves the 50 American states and 10 Canadian provinces, expanding TransForce’s ability to service
all North American markets,” said Mr. Bédard.
Consistent with TransForce’s strategy of adding well-managed companies, Porter has strong
leadership under President Michael Kits who will continue to manage the company following the
acquisition. Mr. Kits will report to Gary King, President of TST Solutions L.P. Mr. King was appointed
President of TST Solutions L.P. at the beginning of the year and has direct responsibility for a group
of TransForce companies comprising Kingsway, Select, Daily, TST Expedited Services, TST Air, TST
Automotive Services, TST Truckload Express, TST Load Brokerage Services, and TST Overland Express.