Country Wide Transport Services Reports Second-Quarter Results.

EAST ROCHESTER, N.Y.--(BUSINESS WIRE)--Feb. 12, 1999--Country Wide Transport Services Inc. (OTC BB:CWTV) Friday reported an 8.4 percent increase in revenues to $9,385,000 and net income of $100,000, or 2 cents per basic share, for the three months ended Dec. 31, 1998.

This compares with revenues of $8,656,000 and net income of $212,000, or 5 cents per basic share, for the second quarter of last year.

For the six months ended Dec. 31, 1998, revenues increased 9.4 percent to $18,766,000 and net income was $311,000, or 7 cents per basic share, compared with revenues of $17,153,000 and net income of $405,000, or 10 cents per basic share, for the same period a year earlier.

Higher revenues were the result of existing account penetration and new business. The decline in net income was due to increased costs and general expenses related to adding personnel, as well as certain start-up costs for Vertex Logistics Solutions.

Timothy Lepper, president and chief executive officer of Country Wide Transport Services, commented: "Even though revenues increased, they were somewhat affected by a decrease in revenues from our largest customer. Since we expect this decrease to continue, we have started cost-control measures to bring expenses more in line with current revenues.

"Of course, we maintain our efforts in growing our business through further penetration of existing accounts and the pursuit of new customers."

Country Wide Transport Services' subsidiary, Vertex Transportation Inc., provides complete transportation-logistics services throughout the United States, Canada and Mexico as a freight forwarder and logistics-management company.

This news release contains forward-looking statements indicating that the company "anticipates," "expects" or "believes" certain events or results that have not yet occurred. Such forward-looking statements are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements involve known and unknown factors, risks and uncertainties that may cause the company's actual results in future periods to differ materially from the results that the company now anticipates or believes will come to pass. -0-

                 COUNTRY WIDE TRANSPORT SERVICES INC.
                         Financial Highlights
                             (Unaudited)
                         (Thousands omitted)

                              Three months ended     Six months ended
                                    Dec. 31,              Dec. 31,
                                1998       1997       1998       1997

Revenues                      $9,385     $8,656    $18,766    $17,153
Operating income                 150        307        411        564
Net income                       100        212        311        405
Earnings per common share:
 Basic                        $  .02     $  .05    $   .07    $   .10
 Diluted                      $  .02     $  .04    $   .06    $   .08
Weighted average number of
 common shares:
 Basic                         4,248      4,248      4,248      4,248
 Diluted                       5,000      4,983      5,003      4,983