Aamaxan Transport Group, Inc. Announces Cancellation of Intent to Purchase Translease, Inc. and Action Group.

VAN BUREN, Ark.--(BUSINESS WIRE)--Jan. 4, 1999--Aamaxan Transport Group, Inc. (OTC BB:AAXM -- $.53) today announced:

-- The cancellation of the intent to purchase assets of Translease,

Inc. and related companies, since the parties were unable to

agree on definite terms.

-- The cancellation of the purchase of Action Delivery Services and

Action Warehouse, due to a lack of complete information from the

sellers.

A spokesman for Aamaxan stated that while it was unfortunate that the assets acquisition of Translease and stock purchase of Action Group were not able to be consummated, even though financing was available, it was not in the interest of Aamaxan to complete either transaction.

Aamaxan is a regional trucking and warehousing company with headquarters in Van Buren, Arkansas.

Certain information included in this communication contains statements that are forward-looking, such as statements relating to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. These forward statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated.