OKOTOKS, AB, May 3 /PRNewswire-FirstCall/ – (TSX: MTL) Mullen Group Ltd. (“Mullen Group” and/or the “Corporation”) announced
today the signing of an agreement to acquire Hi-Way 9 Express Ltd.,
Load-Way Ltd., Streamline Logistics Inc. and 1006213 Alberta Ltd.
(collectively, “Hi-Way 9”) in a cash and shares transaction. These
companies are private family-owned corporations based in Drumheller,
Alberta, which have been in business since 1969. Hi-Way 9 is a
recognized leader in Alberta in the less-than-truckload (“LTL”)
transportation business.

“We are extremely pleased to add Hi-Way 9 to our growing business and
are very confident that they will work closely with our Grimshaw
Trucking group to significantly enhance our LTL business and service to
customers in Alberta. Having been in business for over 40 years,
Hi-Way 9 has built an exceptional reputation for providing outstanding
service to their customers. We look forward to working with Hi-Way 9’s
management team on enhancing the services offerings to Mullen Group’s
existing customers and realizing on the potential synergies resulting
from this acquisition. This is a quality – best in class – company
with an established history, a strong management team and strong
systems and as such we anticipated a quick and smooth transition. I am
also extremely pleased to announce that three of the key family members
involved in Hi-Way 9, Dean Kohut, President; Darrell Kohut, Vice
President, Operations and Heather Colberg, Vice President,
Administration, have agreed to remain with Hi-Way 9 to oversee its day
to day operations,” stated Stephen H. Lockwood, President and Co-Chief
Executive Officer.

This investment is expected to add approximately $50 million to Mullen
Group’s consolidated revenues and generate operating margins consistent
with the other businesses in Mullen Group’s Trucking/Logistics segment.

The transaction is expected to close on June 1, 2011, subject to the
completion of due diligence, regulatory approvals and other conditions
typical for a transaction of this nature. Mullen Group will fund the
purchase price from its existing cash reserves and by the issuance of
common shares.

Mullen Group is a company that owns a network of independently operated
businesses. Today the Mullen Group is recognized as the largest
provider of specialized transportation and related services to the oil
and natural gas industry in western Canada and as one of the leading
suppliers of trucking and logistics services in Canada – two sectors of
the economy in which Mullen Group has strong business relationships and
industry leadership. Mullen Group provides management and financial
expertise, technology and systems support to its independent
businesses.

Mullen Group is a publicly traded corporation listed on the Toronto
Stock Exchange under the symbol “MTL”. Additional information is
available on our website at www.mullen-group.com.

SOURCE Mullen Group Ltd.