Target Logistics Acquires Cassady Air Transportation, Inc; Columbus, Ohio Forwarder to Add $4 Million in Revenues

Business Wire, Oct 15, 2002

Business Editors

BALTIMORE--(BUSINESS WIRE)--Oct. 15, 2002

Target Logistics, Inc. (OTC BB: TARG) announced today that its wholly-owned subsidiary, Target Logistic Services, Inc. ("TLSI"), has acquired the assets and certain liabilities of Cassady Air Transportation, Inc., a freight forwarder providing a full range of services in the Columbus, Ohio market.

This is the third acquisition of a freight forwarder announced by Target in the past year. Terms of the acquisition were not disclosed.

Cassady Air Transportation is a ten year-old firm. The acquisition is expected to add approximately $4 million in annual revenues to Target.

The Company also announced that it will retain all of Cassady's employees.

"The acquisition of Cassady is in line with our current growth strategy," Stuart Hettleman, Chief Executive Officer of Target Logistics, Inc., said. "We are particularly pleased that this acquisition allows us to expand operations in the important Columbus, Ohio market. We are also pleased to be adding a very experienced group of veterans to our team."

About Target Logistics, Inc.:

Target Logistics, Inc. provides freight forwarding and logistics services through its wholly-owned subsidiary, Target Logistic Services, Inc.

Statements contained in this press release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Although Target Logistics believes that the expectations reflected in such forward-looking statements are reasonable, the forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projections.

This release and prior releases are available on the KCSA Public Relations Worldwide website at www.kcsa.com.