OKOTOKS, AB, May 16, 2013 /PRNewswire/ – (TSX:MTL) Mullen Group Ltd. (“Mullen Group” and/or the “Corporation“) announced today the signing of an agreement to acquire Jay’s Moving &
Storage Ltd. (“Jay’s” and/or the “Company“). The transaction is expected to close on June 1, 2013, subject to
the completion of conditions typical for a transaction of this nature.

Jay’s is a private corporation owned by Dennis Doehl based in Regina,
Saskatchewan. The Company has been in business since 1964 and is a
recognized leader in the less-than-truckload (“LTL“) transportation business within the Province of Saskatchewan operating
11 full-service terminals and warehouses, with over 450 employees and a
fleet of over 600 trucks and trailers. In 2010, Jay’s was named
Saskatchewan’s Business of the Year by the Saskatchewan Chamber of
Commerce.

“We are extremely pleased to add Jay’s to our organization. Dennis
Doehl is a true entrepreneur starting with just a couple of trucks
nearly 50 years ago. His company has an exceptional reputation for
providing outstanding service to its customers and we look forward to
working with the management team to enhance the service offerings to
Mullen Group’s existing customers and realizing on the potential
synergies resulting from this acquisition. This is a great company
with an established history and a strong management team. As such, we
anticipate a quick and smooth transition. I am also extremely pleased
to announce that Dennis Doehl has agreed to remain with Jay’s for the
balance of the year to help with the transition”, stated Murray K.
Mullen, Chairman and Chief Executive Officer.

Jay’s will be operated as a stand-alone business within Mullen Group and
is expected to add annual revenue of approximately $35.0 to
$40.0 million to our consolidated results and generate operating
margins consistent with other businesses in the Trucking/Logistics
segment. The purchase price will be funded from existing cash
reserves.

This news release may contain forward-looking statements that are
subject to risk factors associated with the oil and natural gas
business and the overall economy. Mullen Group believes that the
expectations reflected in this news release are reasonable, but results
may be affected by a variety of variables. Mullen Group relies on
litigation protection for “forward-looking” statements.

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.