ARAMEX acquires a leading Egyptian freight forwarding company

With this acquisition, ARAMEX, the leading total transportation solutions provider in the Middle East and South Asia, will consolidate its presence in Egypt as a major player providing a full, multi-modal transportation link to every country in the world as well as full coverage of the domestic local market.

Operational since 1995, Freight Professionals employs 86 people and has offices at Alexandria's and Cairo's Airports as well as at Port Said, in addition to its main offices in Cairo. The company also provides customs brokerage services in the respective ports.

Mr. Fadi Ghandour, President and Chief Executive Officer of ARAMEX, said: "The decision to acquire this excellent freight forwarding company fits perfectly within our strategic direction of solidifying and expanding our presence in the region. Freight Professionals provides us with a clear competitive advantage in the Egyptian market, adding new expertise, specifically in Sea Freight. The synergy of Freight Professionals with ARAMEX in Egypt is strong and will help us provide the market with complete supply chain solutions."

Ghandour added: "Freight Professionals brings with it a large loyal customer base that we are confident will benefit from the multiple transportation services ARAMEX offers, specifically our international express and domestic delivery services. At the same time, ARAMEX customers in Egypt will enjoy superior sea freight services as a result of the added capabilities this acquisition will bring to ARAMEX."

Freight Professionals is owned by two entrepreneurs who will now join the ranks of ARAMEX: Mr. Hamdi Mabrouk, the managing director of the company since its inception, and Mr. Ayman Yousef, the assistant managing director. Mr. Mabrouk commented on the agreement, saying: "We are looking forward to joining the ARAMEX team. This will open for us a vast global dimension and expand our outlook and level of expertise. From our perspective, joining forces with ARAMEX is a win-win situation for our customers and employees, and we believe this decision is of significant value for everyone associated with Freight Professionals. The combination of ARAMEX's global reach and our local expertise will allow us to offer the best level of service to our customers."

As part of its expansion plans, ARAMEX has lately concluded a series of acquisitions, including Priority Airfreight (a UK-based express service provider that specializes in courier traffic between the UK and the US), InfoFort, the leading document storage and management company in the Middle East, and Al Khazen Distribution, the only independent publication distribution company in Palestine. This latest deal in Egypt brings the total amount invested by ARAMEX in acquisitions during 2005 to approximately AED 94 million thus far.