Celadon Group Inc. said the action taken by President Bush to lift the moratorium that enables Mexican trucks to move cargo between Mexico and the U.S. should have a favorable impact on the company's future earnings.

Celadon is a leading long-haul trucking company specializing in service from the United States and Canada to and from locations in Mexico.
Due to this recent development, Paul Will, chief financial officer, stated, "The company estimates 2003 calendar year diluted earnings per share between $1.10 to $1.20. This guidance assumes that the U.S. economy continues at its present pace, there are no major changes in diesel oil prices and the company is successful in ramping up the number of trucks that will be involved in these movements to approximately 300 by the end of the first 12 months after certification is complete. The pace at which we can take advantage of this action will determine where earnings will be within that range. The company has operated its Mexican affiliate since June 1995."
Stephen Russell, chairman and chief executive officer, said, "We believe there will be benefits from this action taken by President Bush to lift the moratorium on Mexican trucks. We have anticipated this move and are positioned to execute our operational plan to utilize Mexican drivers for hauling freight between Mexico and U.S. We also believe we are uniquely qualified to benefit from the lifting of the moratorium based on our freight flows to and from Mexico."
Celadon Group Inc., with headquarters in Indianapolis, is the majority owner of TruckersB2B Inc., which is a provider of cost benefits to about 13,000 member fleets. The company operates approximately 2,650 line haul tractors and 7,000 trailers.