Ports Petroleum to Sell Retail Operation

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Ports Petroleum to Sell Retail Operation

06/15/2005
WOOSTER, Ohio -- Ports Petroleum Co. Inc., a petroleum marketing, distribution and convenience store company headquartered in Wooster, Ohio, is offering up for sale its retail operation through an auction to be managed by Matrix Capital Markets Group Inc.

Ports' retail chain, which trades as Fuel Mart, is comprised of 62 fueling centers and convenience stores as well as three discount cigarette and specialty tobacco product outlets, which trade as Tobacco Town, and a vacant retail site.

The retail units are geographically dispersed across 12 states, with a heavy presence in the Midwest: Ohio (41), Nebraska (4), Iowa (3),
Georgia (3), Mississippi, (3), Tennessee (3), Arkansas (2), Indiana (2), Illinois (1), South Dakota (1), Kentucky (1) and Missouri (1).

These high-volume units cater to over-the-road commercial drivers as well as traditional motorists. The average annual motor fuels volume is approximately 2.2 million gallons per unit, while the average annual merchandise sales is approximately $650,000 per unit. Of the total volume of retail motor fuels sold annually, approximately 52 percent is gasoline vs. 48 percent diesel fuel.

For more information, visit the auction's Web site, www.matrixcapitalonline.com/portsauction/ports_index.html or call Matt Murphy at Matrix Capital, 804-780-0060, ext. 333.