Transforce Income Fund completes conversion to Transforce Inc.

- Shares of TransForce Inc. to commence trading on May 20 under stock
  symbol "TFI"

MONTREAL, May 14 /CNW Telbec/ - TransForce Income Fund (TSX: TIF.UN), a leader in the Canadian transportation and logistics industry, today obtained a final order from the Quebec Superior Court with respect to its previously-announced Plan of Arrangement, as well as Articles of Arrangement from Industry Canada, thereby completing the conversion of TransForce Income Fund into TransForce Inc.

Effective today, all of the outstanding trust units of TransForce Income Fund and "tracking share units" of TFI Holdings Inc., an affiliated corporation, have been exchanged for common shares of TransForce Inc. on a one-for-one basis. As a result, there are 86,790,097 common shares of TransForce Inc. issued and outstanding.

The common shares of TransForce Inc. will commence trading on the Toronto Stock Exchange on Tuesday, May 20, 2008 under the stock symbol "TFI", at which time the trust units of TransForce Income Fund will be delisted from the TSX.

Profile

TransForce Income Fund (www.transforce.ca) is the leader in Canada's transportation and logistics industry. Headquartered in Montreal, Quebec, the Fund's objective is to create value for unitholders through managing and investing in a growing network of wholly-owned, independent operating subsidiaries. TransForce provides a comprehensive and unique combination of capabilities, resources and geographical coverage in both domestic and trans-border markets. Its companies currently operate in five well-defined business segments:

- Less Than Truckload;
- Package and Courier;
- Specialized Services, which includes its ancillary transportation
  services such as logistics, warehousing & dedicated services, fleet
  management & personnel services; oilfield & oilsand services, and;
  waste management;
- Specialized Truckload; and
- Truckload.

TransForce's trust units (TIF.UN) are listed on the Toronto Stock Exchange and are included in the S&P/TSX Composite Index.

Forward-Looking Statements

Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of TransForce. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for TransForce's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.

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