Correcting...In the news release transmitted earlier today for VITRAN CORPORATION, an error occurred in the symbols. It should have read VTNAF instead of VTNF. The complete and corrected version follows: RETRANSMISSION: Vitran Announces First Quarter Results and Semi-Annual Dividend.

TORONTO--(BUSINESS WIRE)--May 5, 1997--(TSE VTN.A., NASDAQ VTNAF. ) Vitran Corporation Inc. announced today results for the first quarter of the 1997 fiscal year.

Consolidated revenue increased to $79.8 million for the three months ending March 31, 1997 compared to $69.4 million for the three months ending March 31, 1996. Income from operations was $2.0 million, compared to a loss from operations of $0.8 million in 1996. Net income was $0.4 million in 1997 or $0.05 per share, versus a net loss of $0.9 million or $0.09 per share in the prior year.

Revenues increased 15 percent over the first quarter of 1996 as a result of stronger volumes and higher rate levels in the transportation businesses in both Canada and the United States. "Revenues at our less-than-truckload operation in the United States have improved as a result of market share increases and a healthy economy as well as from rate increases", commented Richard D. McGraw, President and Chief Executive Officer. "Unlike the first quarter of 1996, rate levels have also improved marginally in Canada as a result of a better economic climate. Volume levels have generally been stronger in Canada during the first quarter of 1997, although this has not consistently been reflected in all regions of the country."

Operating cost improvements were also evident as management of all business units continued to implement cost cutting measures. "I am very pleased with the efforts of our management team over the past year to improve the financial results by increasing volumes while simultaneously improving operating margins. The operating ratio of Vitran's less-than-truckload business units was 95.9 percent, compared to 98.9 percent in the first quarter of 1996. Vitran's truckload business in the United States is once again generating an operating profit after suffering through most of 1996 due to a sudden reduction in business levels by a major customer. In addition, our North American intermodal and freight marketing business, The Freight Connection (TFC), is showing significantly better results due to an expansion of offices and increased service offerings. TFC's income from operations has increased, and the operating margin now compares favourably with industry leaders", Mr. McGraw went on to comment. The Environmental Group results, although improved somewhat over 1996, were again disappointing as commodity prices remained at unprofitably low levels.

"I am confident that the expanding U.S. and Canadian economies when coupled with Vitran's excellent market position should translate into continued improving results for Vitran over the remainder of this fiscal year", concluded Mr. McGraw.

Vitran also announced that its Board of Directors had approved the semi-annual dividend of $0.035 per share payable on June 30, 1997 to shareholders of record on June 12, 1997.

Vitran operates a North American Freight Distribution System that provides logistical solutions through a network of companies in Canada and the United States. Vitran is a public company and trades on The Toronto Stock Exchange (VTN.A) and The NASDAQ National Market (VTNAF).

This press release contains certain forward-looking information that is subject to certain risks and uncertainties as indicated from time to time in the Company's filings with the Securities and Exchange Commission. Included among these risks and uncertainties are the future performance of the economy and its impact on the transportation industry.

CONTACT: Vitran Corporation Inc.

Richard D. McGraw, 416/752-1411

or

Vitran Corporation Inc.

Don Walker, 416/752-1411