Summit Global Logistics Receives Court Approval for Sale to TriDec Acquisition Co. Inc

Business Wire, March 27, 2008

Company to Move Forward with Existing Management Team as a Private Entity

EAST RUTHERFORD, N.J. -- Summit Global Logistics, Inc. (OTCBB: SGLT) ("Summit") today announced that the U.S. Bankruptcy Court for the District of New Jersey ("Court") has approved the sale of the company's assets and certain of Summit's subsidiaries to TriDec Acquisition Co. Inc. ("TriDec"). TriDec is a company formed by certain founders of Summit's operating companies and members of senior management.

The sale to TriDec was conducted pursuant to Section 363 of the Bankruptcy Code and was subject to an auction process. The Court approved the sale of Summit's assets to TriDec on March 26, 2008.

About Summit Global Logistics

Summit Global is a leading third party logistics company providing a full suite of supply chain management services in the United States, Asia (including China, Taiwan, Thailand and Vietnam), Russia, the Commonwealth of Independent States, Eastern Mediterranean, the Middle East and India. The Company operates both contract logistics and freight forwarding/NVOCC operations in approximately 25 key transportation hubs across the globe. Visit the company at www.summitgl.com.

Forward-Looking Statement

This press release includes "forward looking statements" as defined by the Securities and Exchange Commission (the "SEC"). Forward-looking statements include all statements that do not relate solely to historical or current facts. These forward-looking statements are based on the current plans and expectations of our management and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. These factors include, but are not limited to: economic conditions affecting the shipping, transportation, and delivery logistics industry; the adverse effect of legislation and other matters affecting the industry; increased competition in the industry; our dependence on certain customers; the risk that we may not be able to retain and attract customers; the risk that we may not be able to retain critical vendors; the availability of and costs associated with potential sources of financing, including interim financing and bankruptcy court approval thereof; consummation of the sale of the company's assets, on the terms and conditions proposed, including bankruptcy court approval of the sale transaction; the loss of key personnel; the risk that we may not be able to attract and retain new qualified personnel; difficulties associated with integrating acquired businesses and customers into our operations; material deviations from expected future workers' compensation claims experience; collectability of accounts receivable; the carrying values of deferred income tax assets and goodwill, which may be affected by future operating results; the availability of capital or letters of credit necessary to meet state-mandated surety deposit requirements; and government regulation.