SOURCE: Cargo Connection Logistics

April 21, 2006 10:55 ET

Cargo Connection Logistics Announces Temporary Change in Stock Symbol

INWOOD, NY -- (MARKET WIRE) -- April 21, 2006 -- Cargo Connection Logistics Holding, Inc. (OTC BB: CRGO) (OTC BB: CRGOE) today announced that due to a delay in the filing of its Form 10K-SB annual report, the company's stock symbol has temporarily changed from CRGO to CRGOE. The Company expects to file its Annual Report as soon as possible and have the "E" removed from its symbol shortly thereafter.

"We are deeply disappointed that this has transpired because we are acutely aware of the implications of having this 'E' attached to our symbol," said Cargo Connection Logistics Holding COO, Scott Goodman. "However, we were advised by our independent registered public accounting firm during the final preparation of the Form 10K-SB that there were some issues of concern that went back to when the Company was known as ChampionLyte Holdings, Inc.

"We are working closely with our independent registered public accounting firm to resolve these issues and have the Company's annual report completed and filed. Once this 10K-SB is filed, our stock symbol will be changed back to CRGO," Goodman said.

About Cargo Connection Logistics Holding, Inc.

Company: Cargo Connection Logistics Holding, Inc. consists of Cargo Connection Logistics Corp. and Cargo Connection Logistics - International, Inc. (formally Mid-Coast Management, Inc.), which are both headquartered in Inwood, NY. The Company also has offices in Atlanta, GA; Charlotte, NC; Chicago, IL; Columbus, OH; Miami, FL; New York, NY; Pittsburgh, PA.; and San Jose, CA. The companies currently provide a comprehensive variety of transportation and warehouse capacity services to shippers throughout the nation. Currently the two companies have a total of 87 employees.

Cargo Connection Logistics is a leader in world trade logistics. Headquartered adjacent to JFK International Airport, the company is a transportation logistics provider for shipments importing into and exporting out of the United States, with service areas throughout the United States and North America. They have container freight station operations specifically designed to handle internationally arriving freight for the major retail suppliers through its CFS facilities in Florida, Georgia, Illinois, New York and Ohio. Cargo Connection Logistics' website is www.cargocon.com.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission, including, without limitation:

--  the Company's ability to increase its revenues, including by obtaining
    contacts with foreign shippers;
--  the Company's financial condition, including its ability to continue
    as a going concern;
--  the effect of the Company being in default on its indebtedness;
--  the Company's ability to raise additional capital;
--  the Company's reliance on key personnel and independent agents; and
--  the Company's vulnerability to economic and industry conditions
    

Contact Information

  • Contact:
    Peter Nasca
    Peter Nasca Associates, Inc.
    312-421-0723 Chicago
    305-937-1711 Miami