Velocity Express Receives Management Buyout Offer

WESTPORT, Conn.--(Business Wire)--
Velocity Express Corporation (NASDAQ: VEXP), the nation's largest provider of
time definite regional delivery solutions, announced that it has received an
offer to purchase certain assets, and assume certain liabilities, of the Company
from a management buyout group led by Mr. Vincent A. Wasik, Velocity`s Chairman
and Chief Executive Officer, and backed by Mr. Wasik`s private equity firm MCG
Global, LLC. The Management Buyout Group intends to make equity in the Company
available to approximately 50 members of management in sales, operations,
workforce management, information technology and finance if its proposal is
accepted, including Vincent A. Wasik, Chief Executive Officer; Edward W. Stone,
Chief Financial Officer; Jeffery Hendrickson, President and Chief Operating
Officer; Andrew Kronick, Executive Vice President; Kay Durbin, Executive Vice
President Workforce Management, Alexander Paluch, Chief Technology Officer and
Mark Carlesimo, General Counsel.

The holders of the Company`s Senior Notes required, as a condition to their
consent to the new Burdale revolving credit facility, that the Company initiate
a process to attempt to sell the Company or all or substantially all of its
assets or Senior Notes. To begin to satisfy its obligations under that covenant,
the Company appointed a special board committee of independent directors. The
Committee engaged the firm Scura, Rise & Partners Securities, LLC to act as
exclusive financial advisor to the Committee to assist it in attempting to
effectuate a Transaction. The Committee has also engaged independent legal
counsel to assist in its work.

Management has stated that its offer will remain open until June 12, 2009. Other
parties will have an opportunity to submit offers to purchase the Company with
the complete cooperation of management. There can be no assurance that any
agreement will result from the Committee`s evaluation of the proposal by the
management buyout group nor whether there will be any other offers, nor whether
any sale will be completed.

About Velocity Express

Velocity Express has one of the largest time definite nationwide delivery
networks, providing a national footprint for customers desiring same day service
throughout the United States. The Company's services are supported by a
customer-focused technology infrastructure, providing customers with the
reliability and information they need to manage their transportation and
logistics systems, including a proprietary package tracking system that enables
customers to view the status of any package via a flexible web reporting system.

Forward Looking Statements

Certain statements in this press release, and other written or oral statements
made by or on behalf of the Company, may constitute "forward-looking statements"
within the meaning of the federal securities laws. Statements regarding future
events and developments and the Company's future performance that are not
historical facts, as well as management's expectations, beliefs, plans,
objectives, assumptions and projections about future events or future
performance, are forward looking statements within the meaning of these laws.
Forward-looking statements include statements that are preceded by, followed by,
or include words such as "believes," "expects," "anticipates," "plans,"
"estimates," "intends," or similar expressions. These statements are based on
beliefs and assumptions of the Company's management, which in turn are based on
currently available information. These assumptions could prove inaccurate.

Forward-looking statements are also affected by known and unknown risks that may
cause the actual results of the Company to differ materially from any future
results expressed or implied by such forward-looking statements. Many of these
risks are beyond the ability of the Company to control or predict. Such factors
include, but are not limited to the risks identified in the section entitled
"Risk Factors" in the Company's Annual Report on Form 10-K as amended for the
year ended June 28, 2008. as well as in the other documents that the Company
files from time to time with the Securities and Exchange Commission. Management
believes that the forward-looking statements contained in this release are
reasonable; however, undue reliance should not be placed on any forward-looking
statements contained herein, which are based on current expectations. Further,
forward-looking statements speak only as of the date they are made, and
management undertakes no obligation to publicly update any of them in light of
new information or future events.

Velocity Express Corporation
Edward W. (Ted) Stone, CFO
203-349-4199
tstone@velocityexp.com
or
Institutional Marketing Services (IMS)
John G. Nesbett/Jennifer Belodeau
203-972-9200
jnesbett@institutionalms.com

Copyright Business Wire 2009