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Mainfreight announces Target Logistics Inc Acquisition Transaction Completion

Posted on 1 November 2007

Mainfreight Limited (Mainfreight) early this morning (31 October USA date) completed the acquisition transaction of Target Logistics, Inc. (Target Logistics), a USA and international freight forwarder and logistics provider publicly listed on the American Stock Exchange. Details of the acquisition are as previously advised on the 18 September 2007.

As a consequence of this acquisition Target Logistics will be de-listed from the American Stock Exchange effective immediately.

This is Mainfreight's second USA acquisition and is another important step in the development of Mainfreight around the world.

As previously advised Target Logistics will be earnings positive and will be consolidated from today into Mainfreight's accounts.

For further information, please contact Don Braid, Group Managing Director,
telephone +64-9-259 5503, mobile +64-274 961 637 or email don@mainfreight.com.