SOURCE: Power2Ship Inc.

March 07, 2006 11:43 ET

Power2Ship Opens Agency Terminal

Expected to Generate $1 Million in Revenue

BOCA RATON, FL -- (MARKET WIRE) -- March 7, 2006 --Power2Ship, Inc. (OTC BB: PWRI), announced that its wholly-owned subsidiary, Power2Ship Intermodal, opened an agency terminal in Detroit, Michigan. Power2Ship Intermodal is a non-asset based intermodal drayage company that provides freight transportation services to and from rail and port facilities. This is the first of six agency terminals it plans to open in 2006. On average, each terminal is expected to generate annual revenue of $1,000,000. Richard Hersh, Chairman and Chief Executive Officer of Power2Ship, commented, “This is exactly the growth strategy we envisioned when we acquired this company. We intend to establish these facilities throughout the country over the next several years.”

About Power2Ship, Inc. -- Power2Ship (P2S) is an Application Service Provider that specializes in the collection and processing of real-time transportation information using event-driven software that optimizes the utilization of transportation assets and provides the information to trading partners. P2S’ services are offered to the supply chain management industry including manufacturers and distributors of goods as well as service providers that transport the goods. P2S has three other divisions established to accelerate the market penetration of its patent-pending P2S MobileMarket™: An International Licensing Division markets the P2S MobileMarket™ abroad; a Security Division focuses on Homeland Security initiatives primarily related to container security; and a Strategic Transactions Division seeks merger, acquisition, and joint venture opportunities with strategic trucking companies and other transportation-related providers.

This press release may include 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, those factors discussed under "Risk Factors" in our Form 10-KSB for the fiscal year ended June 30, 2005 and various disclosures in other reports filed from time to time with the United States Securities and Exchange Commission.

Contact Information