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March 26, 1999 9:00 AM, EST

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Transit Group has acquired KAT Inc. of Chesterton, Ind., for $725,000 in cash and 812,000 shares of Transit Group common stock.

KAT offers dry van and refrigerated truckload service, and operates a fleet of 133 tractors and 208 trailers in an area east of the Rocky Mountains to New England. KAT had annual revenue of $20 million, two-thirds of which came from hauling refrigerated freight, according to the company.

The purchase is the third this year and the 14th acquisition since Atlanta-based Transit Group launched its truckload consolidation strategy in June 1997.

President Philip A. Belyew said the addition of KAT “presents attractive opportunities for internal growth along existing lanes and with current customers. It also brings substantial expertise in temperature-controlled transportation to our family of companies.”

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