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Cargo Connection Logistics Holding, Inc. Restates Financials From Operations of Prior Company

Posted on: Tuesday, 20 June 2006, 12:00 CDT

Cargo Connection Logistics Holding, Inc. (OTCBB: CRGOE) (BERLIN: CD6.BE) (FRANKFURT: 217026) today announced that it has completed the extensive work required to restate its financials from operations prior to the company becoming "CRGO."

Management at Cargo Connection Logistics Holding, Inc. has noted that they have completed the filing of their 1st Quarter 10-QSB filing with the SEC. The "e" denotation on their symbol should be taken off within a few days. The delay to its most recent filings have been due to restatements of previous years filings dealing with accounting issues inherited by the Company from the previous management team.

The restatements dealt with 2003 and 2004 and delayed the Company's filing of its 10-KSB for 12/31/2005 and its first quarter 10-QSB filing for 3/31/2006.

"With these issues, which were completely out of our control, now behind us we anticipate that all future filings will be done in a timely manner," said Jesse Dobrinsky, Cargo Connection Logistics Holding, Inc. CEO. "We regret any inconvenience this may have caused our valued shareholders and we truly appreciate your support. We can now dedicate 100 percent of our efforts to growing our business domestically and in the foreign markets we have targeted for expansion."

About Cargo Connection Logistics Holding, Inc.

Company: Cargo Connection Logistics Holding, Inc. consists of Cargo Connection Logistics Corp. and Cargo Connection Logistics-International, Inc. (formally Mid-Coast Management, Inc.), which are both headquartered in Inwood, NY. The Company also has offices in Atlanta, GA; Charlotte, NC; Chicago, IL; Columbus, OH; Miami, FL; New York, NY; Pittsburgh, PA.; and San Jose, CA. Cargo Connection Logistics is a leader in world trade logistics. Headquartered adjacent to JFK International Airport, the company is a transportation logistics provider for shipments importing into and exporting out of the United States, with service areas throughout the United States and North America. The companies currently provide a comprehensive variety of transportation and warehouse capacity services to shippers throughout the nation. They also have container freight station operations specifically designed to handle internationally arriving freight for the major retail suppliers through its CFS facilities in Florida, Georgia, Illinois, New York and Ohio. Cargo Connection Logistics' website is www.cargocon.com.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission, including, without limitation:

 --  the Company's ability to increase its revenues, including by obtaining     contacts with foreign shippers; --  the Company's financial condition, including its ability to continue     as a going concern; --  the effect of the Company being in default on its indebtedness; --  the Company's ability to raise additional capital; --  the Company's reliance on key personnel and independent agents; and --  the Company's vulnerability to economic and industry conditions      

 Contact: Peter Nasca Peter Nasca Associates, Inc. 312-421-0723 Chicago 305-937-1711 Miami  

SOURCE: Cargo Connection Logistics Holding, Inc.

Source: MARKET WIRE

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