Acquisition of Commodity Express Transportation `CXT' Strengthens Power2Ship's Presence in the Logistics Industry.

BOCA RATON, Fla. -- Power2Ship, Inc. (OTCBB:PWRI), a leader in the logistics industry, continues to aggressively expand by acquiring a non-asset based trucking company, Commodity Express Transportation (CXT). Based in West Columbia, South Carolina, CXT's successful freight transportation services for customers throughout the Southeastern United States since 1982 realized revenues of $16.5 Million in 2004. This acquisition establishes a new home for Power2Ship's owner-operators while integrating a 137,000 square foot distribution facility in Blythewood, South Carolina. CXT President Al Stokes commented: "This acquisition brings two highly complementary organizations together. I am confident that Power2Ship will continue the successes of CXT. It is consistent with their strategy of adding successful companies to their organization and will strengthen their presence in the logistics industry."

CXT has attained a successful customer base over 23 years. It consists of an operating truck fleet of 75 tractors and 220 trailers covering a wide service area throughout the Southeastern United States. Commodity Express Brokerage, a wholly owned subsidiary of CXT, provides brokerage services to CXT's customer base. Power2Ship Chief Executive Officer Richard Hersh stated, "Our acquisition of CXT, combined with the power of our existing MobileMarket(TM), can increase the business being conducted with CXT's existing customers two- to three-fold in the next two years."

Power2Ship projects CXT's revenue in 2005 to exceed $20 million.

About Power2Ship, Inc.

Power2Ship (P2S) is a Web-based Collaborative Marketplace that provides supply chain, tracking and other logistics information that enables freight carriers (trucking companies), shippers (senders and receivers of freight) and their customers to make better-informed, cost-effective transportation / logistics decisions. This information assists P2S Member Shippers to optimize their supply chain and reduce their transportation, warehousing and inventory carrying costs. P2S Member Carriers receive free, unlimited use of our Asset Management System through their use of the MobileMarket(TM) to track the location, destination and availability of their transportation assets. P2S has formed three new divisions in order to accelerate the market penetration of its patent-pending P2S MobileMarket(TM): An International Licensing Division, headed by Emerson Fittipaldi, markets the P2S MobileMarket(TM) abroad; a Security Division to support Homeland Security objectives primarily related to transportation security; and, the Mergers, Acquisitions, and Joint Ventures Division seeking relationships with strategic, non-asset based, trucking companies and transportation-related providers.

This press release includes certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements regarding our current business plans, strategies and objectives that involve risks and uncertainties that could cause actual results to differ materially from anticipated results. The forward-looking statements are based on our current expectations and what we believe are reasonable assumptions; however, our actual performance, results and achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Factors, within and beyond our control, that could cause or contribute to such differences include, among others, the following: the loss of one or more of our major customers, our inability to negotiate mutually acceptable agreements with prospective new customers and a lack of sufficient capital to fund our operations; as well as those factors discussed under "Risk Factors" in our Form SB-2/A, as filed on December 15, 2004. Readers are urged to carefully review and consider the various disclosures detailed from time to time in our other reports and filings with the United States Securities and Exchange Commission.