General Electric Power Systems Signs Logistics Contract with Stonepath

Project Services group providing solutions for GE units in Brazil, the Middle East

Project Services group providing solutions for GE units in Brazil, the Middle East

Philadelphia — December 15, 2004 — Stonepath Group, a global logistics services organization, today announced that it has signed a contract with General Electric Power Systems, based in Schenectady, N.Y. The contract calls for Stonepath Project Services to manage logistics for large-scale gas turbines and generators for GE's four power stations in Brazil. Additionally, Stonepath Project Services is supporting various General Electric units by managing logistics and transportation for major energy installations in Turkey and Jordan.

To date, Stonepath has coordinated the movement of more than $176 million in energy equipment for several GE units and their foreign customers. In addition to four major projects on behalf of GE International Power Systems, Stonepath has shipped seven LM6000 Gas Turbine Generator sets from Houston, Texas, to ports in Turkey for General Electric Aero Energy Products.

Stonepath also handled the shipment of two gas turbines, each weighing 217 metric tons, from Charleston, South Carolina, to Aqaba, Jordan, for General Electric Energy Services. For early 2005, Stonepath has committed to managing transportation for two generators being shipped from Shanghai to Jordan.

Lothar Kammerer, vice president of Project Cargo Services for Stonepath Logistics, commented, "We are honored that GE has chosen Stonepath as a third-party logistics provider for strategic energy projects. Stonepath has built a Project Services group committed to exceeding client expectations and demonstrating our ability to support major logistics undertakings anywhere in the world."

Based in Houston, Texas, the Stonepath Project Services group provides integrated logistics solutions for large-scale, complex operations worldwide. With locations throughout North America, Asia-Pacific and Latin America, Stonepath Project Services offers domestic and international freight forwarding capabilities, including air, ocean and surface transportation.