Premier Trailer Leasing Rejects Abacus Claim of Representation; Announces Growth Plans and Planned Capital Raise

Jan 14, 2010, 22:15 ET from Premier Trailer Leasing

GRAPEVINE, Texas, Jan. 14 /PRNewswire/ -- Responding to an unauthorized and inaccurate press release issued yesterday by Abacus Advisors, Premier Trailer Leasing representatives stated unequivocally that the Company had never contracted with Abacus to represent the company in any manner or for any purpose.  John Lamar, Chairman of Premier, said that, "Premier has never engaged in any discussions with Abacus to represent the Company in any capacity.  We are disturbed by the unauthorized and inaccurate statements of Abacus and have demanded that they retract their statements."  Lamar added that he had been advised that certain of its lenders had considered utilizing Abacus for performance of limited due diligence services but those lenders "have advised me that those services had not started and that their relationship with Abacus has been terminated."    

In a separate matter, Premier announced today that it is in the final stages of engaging one of the country's preeminent investment advisory firms to assist the Company in the completion of its efforts to raise new capital.  John Lamar indicated that the Company had been evaluating potential investment advisors over the last few months and added that "at no time was Abacus ever considered for any such position."  Lamar said that, "With the resources of the financial advisory firm selected, the Company is looking forward to increasing its capital to build on its solid client base, expand its business and continue its forward growth plan."  Premier is the fastest growing trailer rental and leasing business in North America with over 13,000 trailers in 24 locations. "We believe we have weathered the economic storm of the last 18 months better than virtually all of our competitors and we are encouraged about and confident of our future," added Lamar.  The Company expects to announce its selection within the next few days.

Premier Trailer Leasing, headquartered in Grapevine, Texas is a leading national trailer leasing and rental company with more than 13,000 trailers in 24 locations in 18 states.

SOURCE Premier Trailer Leasing