SOURCE: Fittipaldi Logistics, Inc.

April 12, 2007 08:30 ET

Fittipaldi Carriers Selects SkyBitz GLS Asset Tracking Technology

BOCA RATON, FL -- (MARKET WIRE) -- April 12, 2007 -- Fittipaldi Logistics, Inc. (OTCBB: FPLD), the market leader in software development focusing on the freight transportation industry, announced that Commodity Express Transportation, a wholly owned subsidiary of Fittipaldi Carriers, Inc., the Company's trucking arm, has selected the patented Global Locating System (GLS) asset tracking technology from SkyBitz for the trailers in its domestic trucking fleet.

This new initiative enables Fittipaldi Logistics to track non-powered assets in the most efficient and reliable manner. SkyBitz provides a key link in Fittipaldi Carriers' strategy, which calls for total asset visibility.

Fittipaldi's Carrier division, which will provide an estimated $32 million in revenues to Fittipaldi Logistics in 2007, has been evaluating asset tracking technologies for several months, and has concluded that the SkyBitz solution will enable them to perform in a significantly more efficient manner.

Orin Neiman, CEO of Fittipaldi Carriers said, "The main focus of our business is providing our customers with exceptional and cost effective service. The SkyBitz GLS solution is easy to install and will allow us to more efficiently utilize our trailer fleet while giving our customers enhanced visibility."

According to Kevin Yates, COO of Fittipaldi Logistics, "We are very pleased to be implementing the SkyBitz trailer tracking technology into our fleet at Fittipaldi Carriers. The technology has proven to be cost effective and integrates seamlessly with our proprietary telematics and fleet management software, EMMOLogic. Trailer visibility joins our growing portfolio of cutting-edge technology solutions."

"We are delighted to partner with Fittipaldi Logistics," said SkyBitz CEO Rick Burtner. "Our patented GLS technology empowers fleets of all sizes to improve their bottom line while enhancing their customer service."

About Fittipaldi Logistics, Inc.

Fittipaldi Logistics, Inc. is a technology company that specializes in providing pertinent, real-time information to the worldwide transportation and security industries. Our telematics solutions collect vehicle and container-based data and integrate it with information gathered from various disparate legacy systems across the supply chain. The data is then synthesized and reformatted into valuable, actionable information, and delivered to appropriate end-users across the logistics value chain through secure web-based applications. Specific offerings include: vehicle tracking, inventory/asset visibility, secure trucking, matching available freight with available trucks, and many others.

About SkyBitz, Inc.

SkyBitz developed the revolutionary Global Locating System (GLS) technology to give customers the ability to track un-powered assets by utilizing wireless satellite technology and centralized position calculations. The two-way GLS mobile communicator is compact, easy to install and provides multi-year battery life. More than 340 fleets currently rely on the cost-effective SkyBitz GLS technology to track more than 130,000 trailers and containers and achieve total asset visibility, improve security, lower operating costs and enhance customer service. Headquartered in Sterling, Va., SkyBitz is a privately held company financially backed by CIBC, AIG Highstar Capital, Inverness Capital Partners, Motorola Ventures and ITV, a fund of Cordova Ventures. For additional information, visit

This press release includes certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements regarding our current business plans, strategies and objectives that involve risks and uncertainties that could cause actual results to differ materially from anticipated results. The forward-looking statements are based on our current expectations and what we believe are reasonable assumptions; however, our actual performance, results and achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Factors, within and beyond our control, that could cause or contribute to such differences include, among others, the following: we have a history of losses and an accumulated deficit, expect losses to continue for the foreseeable future and will need to raise additional working capital in order to implement our business model and sustain our operations; the loss of one or more of our major customers could materially and adversely effect our future revenue and business operations; as well as those factors discussed under "Risk Factors" in our Annual Report on form 10-KSB filed on October 13, 2006 and various disclosures in other reports filed from time to time with the United States Securities and Exchange Commission.

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