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Velocity Express To Extend 10Q Filing Date and Intends to Reschedule Second Quarter Conference Call.

WESTPORT, Conn. -- Velocity Express Corporation (NASDAQ: VEXP), announced today that it intends to file a Form 12b-25 with the U.S. Securities and Exchange Commission requesting a 5-day extension to file its Quarterly Report on Form 10-Q for the quarter ended December 27, 2008.

The Company is not able to file the Form 10-Q by the prescribed filing date without unreasonable effort and expense due to complexities associated with the Company's current negotiations for a new senior credit facility and further amendments to its Senior Subordinated Indenture, including consent of the requisite holders of the Notes issued under the Indenture to the new senior credit facility. We hope to complete an agreement among the Company, our new potential lender and the holders of our Notes to accommodate certain requests by the Noteholders on or prior to February 13, 2009.

Form 12b-25 provides the Company with an extension of up to 5 days after the original due date of February 10, 2009 to file its Quarterly Report on Form 10-Q for the quarter ended December 27, 2008.

As a result of the request for an extension, Velocity will not host its previously announced investor conference call on Wednesday February 11, 2008 and expects to reschedule the call after the 10-Q is filed.

About Velocity Express

Velocity Express has one of the largest time definite nationwide delivery networks, providing a national footprint for customers desiring same day service throughout the United States. The Company's services are supported by a customer-focused technology infrastructure, providing customers with the reliability and information they need to manage their transportation and logistics systems, including a proprietary package tracking system that enables customers to view the status of any package via a flexible web reporting system.

Forward Looking Statements

This press release contains certain forward-looking statements regarding Velocity Express 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, that are based on the beliefs of our management as well as assumptions made by and information currently available to our management. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements.
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Publication:Business Wire
Date:Feb 10, 2009
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