WASHINGTON, DC — December 21, 2004 — Food Marketing Institute (FMI) and Power Products, Inc. today announced the formation of FoodLiftExchange, a new program to help member companies reduce costs and increase the productivity of their materials handling lift-truck fleets and related distribution center equipment.

“We are very pleased to offer the FoodLiftExchange program as a fast and efficient way of providing substantial savings on the purchase and maintenance of materials handling equipment, parts and supplies, and, when combined with the volume-based rebates, the total savings for our members could be very significant,” stated FMI President and CEO Tim Hammonds.

“Power Products, Inc. has worked exclusively with some of the largest manufacturing, distribution and service companies in this country, but through FoodLiftExchange, FMI is now able to offer these same services to all of our members who maintain fleets of materials-handling equipment regardless of their size. So, whether the equipment is deployed in stores, distribution centers, or manufacturing plants, our members will now be able to centralize their fleet performance data and make more informed equipment maintenance and lifecycle decisions,” said Jack Block, president of FMI’s Wholesale Division.

Joe Ciolino, executive vice president, Power Products, Inc. said, “FMI’s members have some of the largest materials-handling fleets in the country. The prospect of incorporating these food companies into this robust purchasing program will further enhance our aggregated buying power.   Our business model can show savings from 15% to 45% annually.   This savings and the management tools available through FoodLiftExchange will help our customers drive additional costs out of their fleet operations.”

Added Scott White, president, Power Products, Inc., “FoodLiftExchange becomes the purchasing advocate for its members.   Our aggregated-buying volumes and direct manufacturer relationships enable us to provide pricing levels unavailable through traditional procurement processes. With the option to outsource to FoodLiftExchange, FMI member companies are able to increase productivity while reducing overall costs.”

The program recognizes that all companies are different and offers services in a menu format. This allows members to select those features that compliment their operations. Some companies outsource their maintenance work to a third party, while others prefer to handle it in-house. Either option allows companies to benefit from the valuable information and services through FoodLiftExchange. Participating companies will also find management tools that will assist them in right-sizing their fleets and maintain equipment based on direct hours of usage and pertinent management reports.

Because all original equipment manufacturer brands are represented in the program, members will have the ability to research and select equipment suited to their specific need without the selection limitations imposed on single-brand dealerships.   Special pricing and rebates are offered by FoodLiftExchange on a huge variety of products and supplies, including top-name lift trucks, pallet jacks, forks, tires, seats, lights, batteries and chargers, battery handling equipment, propane, shrink wrap, racking systems and much more.

To participate, FMI member company fleet professionals should visit FMI’s Web site, www.fmi.org, and click on the www.FoodLiftExchange.com Web site, where they can register and get started.   For more information about FoodLiftExchange.com, please contact Patrick Davis (pdavis@fmi.org) or Joe Ciolino (joeciolino@powerproductsweb.com).