Smith System Acquired by David M. Boucher and McFadden Brothers

Arlington, TX - April 29, 2003 —Smith System, the industry leader in professional driver training, announced today that it had been acquired by David M. Boucher and McFadden Brothers, a New York City-based investment firm. Boucher, who acts as Chairman of McFadden Brothers other operating companies that include Cryogenic Transportation and Easton Coach Company, will also act as Chairman of Smith System.

Smith System was purchased from CNA Financial Corp. The company will continue its operations at its headquarters in Arlington, Texas. Smith's management team will be led by Tony Douglas, who will act as president and CEO.

"As the recognized leader in driver improvement training, Smith System has sustained a rich history of success thanks to the contributions of its employees and customers," said Douglas. "My first exposure to Smith System was as a courier trainee with Federal Express in 1981. Since then I have put the Smith System to work in many companies with outstanding results. I believe in the Smith System philosophy and the positive impact our products have on corporations and individuals."

Smith System was founded in 1952 as the nation's first fleet driver safety training organization with on-road, hands-on safety education techniques for experienced drivers. Smith System delivers behind the wheel instruction to more than 15,000 fleet drivers each year and has presented their program in 47 countries.

"We are very pleased that Smith System has become one of our portfolio companies," said Boucher, Chairman. "We are committed to supporting the continuous improvement of products and services, employing the latest technology in driver improvement, and providing the value added training and support materials that customers have come to expect from Smith System."

McFadden Brothers has other interests in transportation-related companies, including Cryogenic Transportation, Inc., a Houston-based trucking company specializing in the carriage of industrial gases; and Easton Coach Company, an Easton, Pennsylvania-based passenger transportation company.

About Smith System
Smith System Driver Improvement Institute, Inc. was founded in 1952 as the nation's first fleet driver safety training organization with on-road, hands-on safety education techniques for experienced drivers. Smith System delivers behind the wheel instruction to more than 15,000 fleet drivers each year and has presented their program in 47 countries. In the past decade, Smith has provided services to more than half of the current Fortune 500® fleets and is the only company in the industry that guarantees the quality of their training. In addition to its on-road training and extensive video and DVD library, the company offers web-based education and fleet monitoring.

Media Contacts:
Frank Powers
Smith System
800-777-7648

Valerie Chereskin
Chereskin Communications
760-942-3116