Power2Ship Inc. (fka pwri)

[Golden Cross]

Power2Ship Subsidiary Establishes $2 Million Credit Facility With BB&T Corporation
Wednesday February 8, 9:42 am ET


Expects Minimum of $100,000+ in First Year Savings


BOCA RATON, FL--(MARKET WIRE)--Feb 8, 2006 -- Power2Ship, Inc. (OTC BB:PWRI.OB - News), the provider of a Web-based, Logistics, Collaborative Marketplace for the freight transportation industry and related Homeland Security programs, has obtained a $2 million revolving line of credit to finance the growth of its subsidiary Commodity Express Transportation. Power2Ship's Chairman and Chief Executive Officer, Richard Hersh commented, "Management anticipates that this credit facility from BB&T will result in a reduction in interest expense of at least $100,000 during the next year. We are pleased that BB&T, the country's 9th largest financial institution with approximately $109 billion in assets, has provided us with this competitively priced facility. They also are willing and able to increase the size of this line to accommodate our anticipated growth."
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About Power2Ship, Inc.

Power2Ship (P2S) is an Application Service Provider that specializes in the collection and processing of real-time transportation information using event-driven software that optimizes the utilization of transportation assets and provides the information to trading partners. P2S' services are offered to the supply chain management industry including manufacturers and distributors of goods as well as service providers that transport the goods. P2S has three other divisions established to accelerate the market penetration of its patent-pending P2S MobileMarket(TM): An International Licensing Division markets the P2S MobileMarket(TM) abroad; a Security Division focuses on Homeland Security initiatives primarily related to container security; and a Strategic Transactions Division seeks merger, acquisition, and joint venture opportunities with strategic trucking companies and other transportation-related providers.

This press release includes certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements regarding our current business plans, strategies and objectives that involve risks and uncertainties that could cause actual results to differ materially from anticipated results. The forward-looking statements are based on our current expectations and what we believe are reasonable assumptions; however, our actual performance, results and achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Factors, within and beyond our control, that could cause or contribute to such differences include, among others, the following: we have a history of losses and an accumulated deficit, expect losses to continue for the foreseeable future and will need to raise additional working capital in order to implement our business model and sustain our operations; the loss of one or more of our major customers could materially and adversely effect our future revenue and business operations; as well as those factors discussed under "Risk Factors" in our Form SB-2/A dated December 15, 2004 and various disclosures in other reports filed from time to time with the United States Securities and Exchange Commission.

To hear more information about Power2Ship from Richard Hersh, Chairman & CEO, go to: http://www.publiccoreport.net/featured/PWRI/company.asp or contact him at [phone] or [phone] or by email: [e-mail]

To become a Power2Ship Member Shipper contact: Arnie Werther, Vice President Sales and Operations at [phone] or [phone] or by email: [e-mail]

To become a Power2Ship Member Carrier contact: Customer Service at [phone] or go to www.p2scarrier.com