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Press release from CNW Group

TransForce Finalizes New Credit Facility

Thursday, July 22, 2010

TransForce Finalizes New Credit Facility12:00 EDT Thursday, July 22, 2010MONTREAL, July 22 /CNW Telbec/ - TransForce Inc. (TSX: TFI-T), the leader in the Canadian transportation and logistics industry, today announced that it has completed the arrangement of its new $650-million credit facility with a syndicate of 15 lenders led by National Bank of Canada as Administrative Agent, Sole Bookrunner and Co-Lead Arranger and Royal Bank of Canada as Syndication Agent and Co-Lead Arranger.As announced on July 13, 2010, the credit facility comprises a C$200-million five-year term loan and a revolving line of credit for up to C$450 million with an initial term of three years that can be extended by two one-year terms, subject to certain conditions. The interest rates will be variable, with the term loan at 300 basis points and the revolving line of credit at 275 basis points above the rate for bankers' acceptances. These spreads can only be lowered under certain conditions, depending on the financial condition of the Company.The credit facility is contingent on TransForce complying with certain covenants including those based on its total debt to EBITDA ratio, senior debt to EBITDA ratio, and fixed charge coverage ratio.TransForce intends to use the credit facility for corporate purposes consistent with its established strategy.ProfileTransForce Inc. (www.transforce.ca) is the leader in Canada's transportation and logistics industry. Headquartered in Montreal, Quebec, TransForce creates value for shareholders through managing and investing in a growing network of wholly-owned, operating subsidiaries. TransForce provides a comprehensive and unique combination of capabilities, resources and geographical coverage in both domestic and trans-border markets. Its companies currently operate in four well-defined business segments: << - Less-Than-Truckload; - Package and Courier; - Specialized Services, which includes oilfield & oilsand services, waste management; logistics, fleet management, and personnel services; - Truckload, which includes specialized truckload and dedicated services. >> TransForce Inc. shares are listed on the Toronto Stock Exchange under the symbol TFI.Forward-Looking StatementsExcept for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of TransForce. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for TransForce's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.%SEDAR: 00026947EFFor further information: Investors: Alain B�dard, Chairman, President and CEO, TransForce Inc., (514) 331-4200, abedard(a)transforce.ca; Media: John Lute, Lute & Company, (416) 929-5883, jlute@luteco.com