STG Stonepath Grp.

Stonepath Group Adds Four New Logistics Businesses in Asia Expansion in Hong Kong, Singapore, Shanghai and Malaysia PHILADELPHIA, PA, Jan. 6 /Xinhua-PRNewswire/ -- Stonepath Group (AMEX:STG), a global logistics services organization, has significantly expanded its Asian network through several recent acquisitions in Hong Kong, Shanghai, Singapore and Malaysia. 'We welcome our new partners to the Stonepath family of companies,' said Dennis Pelino, Chief Executive Officer. "Stonepath has made considerable progress in developing our Asian network over the past several months. We are gaining strong partners that enhance our ocean freight service and international airfreight capabilities and will help fuel our growth in this key and growing market. These transactions, as well as the soon to be completed Shaanxi Sunshine Cargo Services Co., Ltd transaction in China, put us in a great position to serve the expanding base of customers looking to execute their supply-chain strategies on a global basis." The recent acquisitions, first announced December 29, 2003, include a 70% interest in the business operations of Hong Kong-based East Ocean Logistics, which is being combined with Stonepath's existing Hong Kong operations and will broaden the organization's ocean carriage capabilities throughout China and Southeast Asia. Stonepath has also acquired a 70% interest in the business operations of Planet Logistics Express (Singapore) Pte. Ltd., a Singapore-based operation. The Planet acquisition complements Stonepath's existing Asian network, and provides a significant air cargo network in Singapore and Southeast Asia. In addition, the Company acquired a 70% interest in the business operations of Group Logistics Pte. Ltd., a start-up operation in Shanghai that will provide a platform to penetrate the air cargo markets in Shanghai. Finally, Stonepath has acquired a 70% interest in the Malaysian operations of G-Link Express in Penang, Kuala Lumpur and Johor Barhu. The Malaysian acquisitions reflect the Company's strategy to continue to acquire affiliate offices from the G-Link group of companies which started with the acquisition of a 70% interest in the G-Link Singapore and Cambodia operations in August of 2003. Tommy Koo, founder of East Ocean, said, 'Joining Stonepath is a very positive development for the customers and employees of East Ocean.' Mr. Koo becomes Managing Director of the company's Hong Kong operations. Eddy Quek, Managing Director, Planet Logistics remarked, 'We are very pleased to become part of Stonepath's international team. We look forward to expanding Stonepath's airfreight capabilities as a result of this partnership.' Mr. Quek becomes the Director of Stonepath's airfreight operations in Asia. Melvin Law, a founder of G-Link and Managing Director of Stonepath's Asian Operations, commented, 'This is a very exciting development in the growing relationship between G-Link and Stonepath. G-Link's Malaysian operations are a solid fit for the Stonepath international network.' About Stonepath Group (AMEX:STG) Stonepath Group (www.stonepath.com) is a global logistics services organization that integrates established logistics companies with innovative technologies. Through its operating divisions, Stonepath Logistics offers a full-range of time-definite transportation and distribution solutions to a wide range of global and local businesses. For more information about the Company, please contact John Brine at +1-212-254-8280. DATASOURCE: Stonepath Group CONTACT: John Brine of Stonepath Group, +1-212-254-8280 Web site: http://www.stonepath.com/

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