Express Logistics Group Limited (ELG) is pleased to announce the acquisition of Hawkes Bay Customs and Forwarding Limited and the subsequent opening of the Express Logistics Napier branch.

ELG is a leading New Zealand based international logistics service provider, offering a complete range of freight forwarding and customs brokerage services.

ELG has experienced excellent support from the Hawkes Bay region and this acquisition reflects the ongoing commitment to the area.

Settlement occurred on 1st June 2006.

For further information visit Express at www.xprs.co.nz or contact:

Matt Riley or Chris Marshall Directors
Waterman Holdings Limited
+64 9 362 0522

Graeme Mann
Managing Director
Express Logistics Group Limited
+64 9 275 4000