• Vitran Corporation, Inc. Balance Sheet
• Vitran Corporation, Inc. Statements Of Income

TORONTO--(May 4, 1999) -- Vitran Corporation Inc. (Nasdap: VVN, TSE: VTNA), a North American transportation and logistics firm, today announced record financial results for the three-month period ended March 31, 1999 (all figures reported in Canadian dollars). Vitran also announced that its Board of Directors has approved the semi-annual dividend of $0.035 per share payable on June 30, 1999 to shareholders of record on June 11, 1999.

Revenues for the three months ended March 31, 1999 rose 30% to $118,032,000, compared to $90,537,000 in the 1998 first quarter. EBITDA increased 73% to $8,312,000, compared to $4,796,000 int he 1998 three-month period, and operating income increased 82% to $5,003,000, compared to $2,744,000 in the year-earlier period. Net income during the 1999 first quarter rose 88% to $1,729,000, or $0.18 basic earnings per share ($0.16 fully diluted), compared to net income of $921,000, or $0.10 basic earnings per share ($0.09 fully diluted) in the year-ago first quarter. Per share results are based on 9,883,880 (10,910,480 fully diluted) and 9,439,301 (10,284,21 fully diluted) weighted average shares outstanding during the 1999 and 1998 first quarter periods, respectively.

Commenting on Vitran's record results, President and Chief Executive Officer, Richard D. McGraw, stated, "The 1999 first quarter represents Vitran's tenth consecutive reporting period in which we achieved better earnings results compared to the year-earlier quarter. Our record quarterly results were enhanced by the inclusion of Quast Transfer, which we acquired in September 1998. Importantly, we significantly lowered our operating ratios during the quarter - both on a consolidated basis, from 97.0 to 95.8, and within our core LTL (less-than-truckload) division - from 95.8 to 94.2.

"Also noteworthy is the favorable customer response we have been hearing from our early April launch of Vitran Express - a premier Central States (US) freight carrier formed by the merger of our Overland Transportation and Quast Transfer subsidiaries - providing next-day service across 18 states with a unique, Total Satisfaction Guarantee. We will continue to focus on additional innovative ways of enhancing our transportation services, and responding to the future transportation needs of our growing customer base."

Vitran Corporation Inc. is a North American group of transportation companies offering less-than-truckload, truckload, intermodal marketing, truck brokerage and logistics services. Further Company information is available at http://www.vitran.com.

REMINDER:
Vitran management will conduct a conference call tomorrow, Wednesday, May 5th at 10:00 a.m. EDT, to discuss the Company's 1999 first quarter results. The conference call dial-in number is: 800/576-7256

This news announcement contains certain forward-looking information that is subject to certain risks and uncertainties as indicated from time to time in the Company's 20-F and other filings with the Securities and Exchange Commission. Included among these risks and uncertainties are the future performance of the economy, competitive and pricing pressures, fuel costs and other factors impacting the transportation industry.

Vitran Corporation Inc.
Balance Sheet
March  31, 1999 (unaudited)
(in thousands of Canadian dollars)

Vitran Corporation Inc.
Statements Of Income
( Canadian dollars)
(in thousands, except share and per share amounts)

** Vitran's financial statements are prepared in accordance with Canadian Gerenally Accepted Accounting Principles (GAA)).