AMERIQUEST ACQUIRES CORCENTRIC TO COMPLETE e-SERVICE OFFERING TO PARTNERS
Company makes second acquisition in 20 months

CHERRY HILL, NJ — AmeriQuest® Transportation and Logistics Resources Corp., a leading provider of services to the fleet management industry and business system pioneer, has completed the acquisition of Corcentric, an e-business solutions provider that delivers significant cost efficiencies to companies by electronically enabling their supply chains. The transaction, the price of which was not revealed, was consummated as an asset purchase on November 17, 2002.

Bucking the M&A downturn since the bursting of the dot.com bubble in 2000, the acquisition was the second by AmeriQuest in 20 months. The company acquired FleetXchange, an Internet B2B operator of a commercial transportation knowledge exchange, February 2001.

"Corcentric is an important and major component of the evolving AmeriQuest Collective Business System and an integral part of the value that AmeriQuest brings to its partners. The strategic decision to acquire Corcentric was made because the technology is so valuable to AmeriQuest," said Doug Clark, President & CEO of AmeriQuest.

The Corcentric e-Hub Solution is composed of transaction hosting and value added services that enable companies and their trading partners to electronically manage procurement activities, fulfillment and billing procedures. The e-Hub creates an environment where any procurement transaction can be processed via a single point-of-contract, the e-Hub.

"The system currently deployed at FleetXchange, FoodFleetXchange and CarrierFleetXchange was co-developed by AmeriQuest and Corcentric, so this acquisition makes perfect sense to us and our partners. In addition, by completing the AmeriQuest value proposition, we will attract a much wider audience of potential partners," said Joe Ciolino, Executive Vice President, Corporate Development of AmeriQuest.

The newly acquired company will operate as stand alone organization called Corcentric Collective Business Systems within the AmeriQuest corporate structure. Charlie Floto, who served as President of Corcentric, will continue to manage the new organization.

About Corcentric
Corcentric provides proprietary eCommerce solutions, enabling supply chain communities to conduct business electronically. Serving the heavy-duty truck and automotive supply industries, more than 650 client sites utilize Corcentric's services. Corcentric currently processes approximately 55,000 transactions per month valued at more than $500 million per year Corcentric's client list includes such leading firms as Bandag, CITGO Petroleum Corp., Freightliner and Continental General Tires. Headquartered in McLean Virginia, Corcentric was founded in 1998.

About AmeriQuest Transportation and Logistics Resources
AmeriQuest Transportation and Logistics Resources provides procurement services, outsourced transportation management services, asset services, and logistics consulting to the commercial trucking industry. AmeriQuest dramatically cuts costs and optimizes operations for their powerful network of more than 525,000 transportation vehicles. AmeriQuest offers significant discounts with commercial trucking suppliers' fleet-related products, and provides technology driven back office process efficiencies. AmeriQuest enables customers to realize immediate bottom-line savings while adding economic and performance value to industry supply chains.