Express-1 Expands Its Premium Transportation Service Offerings with Acquisition of...

Express-1 Expands Its Premium Transportation Service Offerings with Acquisition of Industry Leader Concert Group Logistics

Company Completes Asset Purchase; Expects Full Year 2008 Revenue
to Exceed $120 Million
BUCHANAN, Mich.--(Business Wire)--Express-1 Expedited Solutions, Inc. (the Company) (AMEX: XPO), one
of the largest ground expedite companies in the U.S., today announced
that its newly created wholly owned subsidiary Concert Group
Logistics, Inc., has acquired substantially all of the assets of
Concert Group Logistics, LLC (CGL). The deal, which closed January 31,
2008, provided for the payment by XPO at closing of $9.0 million in
cash, the issuance of 4.8 million shares of XPO common stock and the
assumption of certain CGL liabilities. Additional consideration in the
amount of up to $2.0 million is payable over a two year period in the
event the newly formed subsidiary achieves certain earn out targets.
Privately held CGL, based in Downers Grove, Illinois, is a non-asset
based premium transportation service provider focused on the freight
forwarding industry. CGL is among the nation's fastest-growing
companies in its market and within the logistics industry. In 2007,
CGL was profitable on approximately $47 million in revenues. Express-1
Expedited Solutions, Inc. expects the acquisition to be accretive in
its first full quarter of combined operations.

"This is a historic day for Express-1 Expedited Solutions and its
shareholders," said Chairman of the Express-1 Board, Jim Martell. "CGL
competes as a non-asset based provider in the high-growth
transportation logistics market and is well positioned with a seasoned
management team and a diverse base of loyal customers. Together, we
have an excellent management team and great group of people."

Express-1's CEO Mike Welch said, "In CGL we have acquired a highly
profitable business that aligns perfectly with our strategic focus of
expanding our geographic footprint and enhancing our value-added
service offerings. Our Express-1 Expedited Solutions platform, when
combined with CGL and our newly formed Bounce operation positions our
organization very well for expansion of our premium transportation
footprint. CGL shares many similarities to our own Express-1 operating
segment, being a non-asset based provider of high-priority premium
transportation services through a network of independently owned
stations. They have a great team and a wonderful culture. Based upon
the strength of the CGL team and operating model, we anticipate our
new operations will achieve the performance required for the
additional earn out payment in 2008."

Welch continued, "Our acquisition of CGL provides substantial
cross-selling opportunities for our ground expedite services, which
will expand our opportunities and markets for ground expedite
services. CGL broadens our expertise to areas such as air freight
forwarding and strengthens our logistics management. The CGL network
of independent station owners and the expertise of the management team
provide our organization with a wealth of knowledge in building and
maintaining an agency network. CGL's services generate strong margins
and recurring revenue that will support our ongoing growth
initiatives."

"CGL was founded by Dan Para, who has founded two successful
logistics companies," said Welch. "In less than seven years, Dan and
his team established CGL as an industry leader by incorporating best
practices and leading-edge technology."

Para will immediately join Express-1's board of directors, and
based on CGL's distribution of the 4.8 million shares, will become one
of Express-1's largest shareholders.

"I am excited to join a dynamic organization that, like CGL,
places a high priority on employee and customer satisfaction," Para
said. "Express-1 Expedited Solutions and CGL are an excellent fit from
both a cultural and business perspective. The entire CGL team looks
forward to working towards capitalizing on the numerous growth
opportunities in our combined markets."

CGL President Gerry Post will remain in that position at the new
subsidiary. Post, a 30-year veteran of the freight forwarding
industry, worked side-by-side with Para in the formation of two
logistics operations. Post leads a team of veteran professionals who
will remain on board to run Concert Group Logistics, Inc. Commenting
on the acquisition, Post stated, "Speaking on behalf of the entire CGL
team, we are excited to join Express-1 and we look forward to
continued growth in the years ahead."

CGL, which has approximately 20 employees, is a non-asset based
transportation logistics service provider that operates 24
independent, locally owned stations across the United States. The
company offers customized domestic and international logistics
services and is not restricted by size, weight, mode of transportation
or location. In September 2007, CGL was named to Inc. Magazine's Top
500 Fastest Growing Companies in America. The company also was
recently recognized by Crain's Chicago Business in the publication's
"Fast Fifty" list of fastest-growing companies in Chicago.

Preliminary Fourth-Quarter and 2007 Results

Based on the Company's preliminary financial data and subject to
the final closing of the Company's books, Express-1 anticipates
fourth-quarter 2007 revenue to be in the range of $13.9 million to
$14.1 million, and full year 2007 revenue in the range of $52.5
million to $52.8 million, an increase of approximately 25 percent over
2006 revenues. Fourth-quarter operating income currently is expected
to be in the range of $650,000 to $725,000, resulting in net income
between $325,000 and $350,000 and EPS in the range of $0.01 to $0.02
per share. For the full year, the Company currently expects to report
net income in the range of $2.0 million to $2.1 million and EPS in the
range of $0.07 to $0.08 per share.

Commenting upon the CGL transaction, Express-1's Chief Financial
Officer Mark Patterson stated, "To enable us to have sufficient
financing available for this transaction and to fund the working
capital needs of the consolidated organization, we have secured a new
credit facility with National City Bank of Michigan. The facility
consists of a receivables based line of credit of up to $11.0 million
with an initial rate of LIBOR plus 125 basis points and a term note of
$3.6 million with an initial rate of LIBOR plus 150 basis points. We
believe the size of this facility is sufficient and that the terms and
rates are favorable."

Welch concluded, "We ended 2007 with a strong fourth-quarter
performance and enter 2008 with significant operational and financial
momentum. We expect to achieve our full-year guidance for 2007 as a
result of our focus on the expansion of our fleet capacity, the
deepening of our customer base and the successful maintenance of our
margins in a competitive business environment. On the strength of our
proven business model and the addition of CGL, we are enthusiastic
about our prospects for 2008 and beyond."

2008 Financial Guidance

Based on current market conditions and the acquisition of the CGL
assets, Express-1 Expedited Solutions, Inc. expects revenue for 2008
to be in the range of $120 million to $125 million, representing
approximately 18 percent to 20 percent growth in the Company's
combined operations. The Company expects full-year net income in the
range of $3.7 million to $4.2 million, or approximately $0.11 to $0.12
per fully diluted share, which includes the shares issued in the
transaction.

Company to Host Conference Call

Express-1 Expedited Solutions management will conduct a conference
call tomorrow, February 1, at 9:00 a.m. ET to discuss the CGL
acquisition. Those interested in accessing a live or archived webcast
of the call should visit the Company's website at www.express-1.com.
Those wishing to take part in the live teleconference call can dial
877-407-9210 (U.S. and Canada) or 201-689-8049 (International). A
playback will be available through midnight ET Friday, February 8,
2008. To listen to the playback, please call 877-660-6853 (U.S. and
Canada) or 201-612-7415 (International). Use account number 286 and
conference ID number 273172.

About Express-1 Expedited Solutions, Inc.

Express-1 Expedited Solutions, Inc. is a non-asset based services
organization focused on premium transportation through its business
segments, Express-1, Inc. (Buchanan, Michigan), Express-1 Dedicated
(Evansville, Indiana), Bounce Logistics, Inc. (South Bend, Indiana)
and Concert Group Logistics, Inc. (CGL) (Downers Grove, Illinois).
These segments are focused on same-day, time-sensitive and dedicated
transportation as well as freight forwarding services. The Company
serves more than 2,000 customers. The Company's premium transportation
offerings are provided through one of five operations centers,
Buchanan, Michigan, Evansville, Indiana, Toledo, Ohio, South Bend,
Indiana and Downers Grove, Illinois and are handled by experienced
inside sales staff using the latest in operations software. The
Company services customers throughout the lower 48 states and portions
of Canada and Mexico. The Company's CGL segment services some
international shipments, in addition to its domestic operations, The
Company's operating model can be described as assets light, with
independent contractors fulfilling the trucking services for most of
its shipments, and independently owned stations managing the services
of its freight forwarding network. Express-1 Expedited Solutions, Inc.
is publicly traded on the American Stock Exchange under the symbol
XPO. For more information about the Company, visit www.express-1.com.

Forward-Looking Statements

This press release contains forward-looking statements that may be
subject to various risks and uncertainties. Such forward-looking
statements are made pursuant to the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995 and are made based on
management's current expectations or beliefs as well as assumptions
made by, and information currently available to, management. These
forward-looking statements, which may include statements regarding our
future financial performance or results of operations, including
expected revenue growth, cash flow growth, future expenses, future
operating margins and other future or expected performance, are
subject to the following risks: that our recent reorganization fails
to result in projected operating efficiencies; the acquisition of
businesses or the launch of new lines of business, which could
increase operating expenses and dilute operating margins; increased
competition, which could lead to negative pressure on our pricing and
the need for increased marketing; the inability to maintain, establish
or renew relationships with customers, whether due to competition or
other factors; the inability to comply with regulatory requirements
governing our business operations; and to the general risks associated
with our businesses.

In addition to the risks and uncertainties discussed above you can
find additional information concerning risks and uncertainties that
would cause actual results to differ materially from those projected
or suggested in the forward-looking statements in the reports that we
have filed with the Securities and Exchange Commission. The
forward-looking statements contained in this press release represent
our judgment as of the date of this release and you should not unduly
rely on such statements. Unless otherwise required by law, we
undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise after the date of this press release. In
light of these risks and uncertainties, the forward-looking events and
circumstances discussed in the filing may not occur, and actual
results could differ materially from those anticipated or implied in
the forward-looking statements.

Express-1 Expedited Solutions, Inc.
Jeff Curry, 269-695-4955
JeffC@express-1.com

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