US Express Leasing Celebrates One-Year Anniversary Supporting The Packaging Industry

ndependent Business Now One of the Top 100 Leasing Companies in the US

Parsippany, NJ - US Express Leasing, an independent lease finance company offering personalized service to packaging equipment dealers and their customers nationwide, has reached the milestone of one year in business. Led by an experienced leadership team and backed by substantial financial resources of Credit Suisse First Boston (CSFB), the company was launched in 2004 to fill the void left by widespread consolidation in the equipment leasing industry. According to CEO Jim McGrane, USXL's focus on personalized service has resonated with hundreds of dealer partners, fueling the start-up company's rapid growth in a highly commoditized market.

"Whether their customers are looking to finance form-fill-seal or filling equipment, it is the value we create with our dealer partners that has made USXL a success. We set out a year ago to bring a personal touch back to leasing, complemented by leading-edge technology and industry-focused lease programs. Month after month we're meeting or exceeding customer and stakeholder expectations and we're confident we'll keep building on this successful performance," said McGrane.

"If USXL were measured on a calendar year basis, versus the time frame that was used for our annual Monitor 100 ranking just released for 2004-2005, they'd clearly make our "Top 100 Leasing Companies" list. We expect to see them next year," said Jerry Parrotto, publisher of the Monitor, the leading trade journal for the equipment leasing industry.

Just 12 months ago, USXL opened its doors with a dozen employees. Today, that number has grown to almost 90. The company is expanding its Parsippany, NJ headquarters and continues to open regional offices throughout the United States to better support its vendor and dealer partners. In March, the company announced it had obtained a $150 million conduit facility from CSFB, "another vote of confidence in our business model and track record to date," said McGrane.

About USXL
US Express Leasing (USXL), headquartered in Parsippany, N.J., is an independent lease financing company. USXL originates leasing transactions through dealers and provides vendor financing in the commercial and industrial, furniture, information technology, medical/health care, office equipment, security, and telecommunications industries. For more information, visit US Express Leasing on the Internet at www.usxl.com.

Source: US Express Leasing (USXL)