Celadon Group, Inc. Extended and Increased to $100 Million Its Current Credit Facility

Celadon Group, Inc. (NYSE:CGI) today announced that it has increased its credit facility to $100 million and reset the term on its five-year, revolving credit facility agented by Bank of America. The facility will continue to be used to provide for ongoing working capital needs and general corporate purposes. Bank of America continues to serve as the lead arranger in the facility and Wells Fargo Bank continues to participate in the existing facility. The amended facility matures on August 29, 2016 and currently bears interest at the option of the Company at LIBOR plus 75 basis points or the prime rate plus zero basis points.

Paul Will, President and Chief Operating Officer stated, "We believe the facility allows for growing the business both organically and through acquisitions. The facility should provide the Company with increased liquidity and flexibility to continue to execute on our business plan.”

Steve Russell, Chairman and Chief Executive Officer stated, "We believe the increased line, coupled with the initiation of our dividend program recently announced, continues to demonstrate both our financial strength and our belief in our ability to drive future earnings growth over time.”

Celadon Group Inc. (www.celadongroup.com), through its subsidiaries, primarily provides long-haul, full-truckload freight service across the United States, Canada and Mexico. The company also owns Celadon Logistics Services, which provides freight brokerage; Celadon Dedicated Services, which provides supply chain management solutions, such as warehousing and dedicated fleet services; and owns a minority interest in TruckersB2B (www.truckersb2b.com) which provides cost savings to member fleets.

This press release and the conference announced may contain forward-looking statements made by the Company that involve risks, assumptions and uncertainties that are difficult to predict. Investors are directed to the information contained in Item 7A ("Quantitative and Qualitative Disclosures About Market Risk”) of Part II of the Company’s Annual Report on Form 10-K, filed with the U.S. Securities and Exchange Commission, for a discussion of the risks that may affect the Company’s future operating results. Actual results may differ.