Pony Express Files For Bankruptcy

June 15, 2000

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Pony Express Delivery Services, a subsidiary of Skynet Holdings Inc., has filed for Chapter 11 bankruptcy and will shut down all operations, except those in Florida.

"We regret this very unfortunate development," said Donald L. Harrill, President & CEO of Skynet Holdings. "However, due to Pony Express' deteriorating economic position, Skynet Holdings is no longer able to absorb the ongoing losses experienced by Pony Express."
Skynet Holdings' other subsidiaries will continue on as business-as-usual, with the exception of Fleet Acquisition Corp., and Pony Express subsidiary Courier Express Inc., which have also filed for bankruptcy petitions.

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