Logistec Corporation

Logistec Corporation

May 20, 2009 10:36 ET

Logistec Announces the Acquisition of a Parcel of Land

MONTREAL, QUEBEC--(Marketwire - May 20, 2009) - Logistec Corporation (TSX:LGT.A)(TSX:LGT.B), a diversified cargo handler in eastern North American ports, is pleased to announce the purchase, through one of its subsidiaries, of a parcel of land in Montreal-Est. "In time, this property will be developed as a logistics centre to support our cargo handling business at the Port of Montreal," indicated Madeleine Paquin, President and Chief Executive Officer of Logistec Corporation.

"This long-term strategic investment will accommodate the objectives of the Montreal Port Authority to ensure that port lands are used solely for transit purposes. It will allow us to maximize the throughput of our terminals at the port, as well as put us in a position to offer value-added services to our customers, such as storage. In essence, this investment gives us the flexibility required to expand our activities at the Port of Montreal," concluded Ms. Paquin.

About Logistec

Logistec Corporation is based in Montreal (QC) and provides specialized services to the marine community and industrial companies in the areas of container, break-bulk and bulk cargo handling at 20 ports in Eastern Canada, the Great Lakes and the U.S. East Coast, including a short-line railway linked to a coal-handling operation in Cape Breton (NS); agency services to foreign shipowners and operators serving the Canadian market; marine transportation services geared primarily to the Arctic coastal trade; and PCB management, site remediation, trenchless structural rehabilitation of watermains, and risk assessment. The Company has been profitable and has paid regular dividends since becoming public and payments have grown steadily over the years.

A public company since 1969, Logistec's shares are listed on the Toronto Stock Exchange under the ticker symbols LGT.A and LGT.B. More information can be obtained at the Company's website at www.logistec.com.

Contact Information