10/06/05 Paramount Pallet Announces Completion of Purchase from IFCO Systems

Paramount Pallet Inc. ("Paramount") announced today that it has recently purchased six (6) pallet services facilities located across Canada. These facilities were previously the Canadian Pallet Services Division of IFCO Systems N.V. ("IFCO"). The sale, which was official on June 3, 2005, created the largest Canadian owned and operated full pallet services
company in the nation.

The completion of the sale created the largest Canadian owned and operated
full pallet services company in the nation. The current management team is part of the ownership group, and will continue to lead the business.

Clint Sharples, former president of IFCO Systems Canada, and new
president and CEO of Paramount Pallet Inc., explained that while the name and
ownership structure may be new, a management team with a strong
performance record will operate the company. "Our management staff has
vastly improved the operations and financial performance of the business over
the last three years. Our top managers have a combined 50 years of experience
in the pallet business, and we are excited to be part of the
ownership of the company and to be able to invest in our future in Canada."

IFCO views the sale as a strategic divestiture of its non-core operations. Dave
Russell, president of IFCO Systems North America, said, "We are focusing our
energies and capital in growing our United States Reusable Plastic Container
(RPC) pooling business and Pallet Management Services business. We are
pleased to sell the Canadian Pallet Services operations to the management
team, and we are happy to have formed a strategic alliance with them for any
cross-border opportunities."

Mr. Sharples added, "Since we have such a strong working relationship with
IFCO and no changes are being made in the management or the employee
base, the transition will be very smooth for our customers. We are committed to
making this change transparent to them, and we will be providing the same
high level of quality and service that our customers have come to expect from us."

According to Sharples, Paramount will be well-advised by aknowledgeable and
experienced board of directors. Serving on the board will be experienced
entrepreneurs and financiers. The Chairman will be Joel Dumaresq, with Dave
Dumaresq, Keith Ebert, Fraser Campbell, Mr. Russell and Mr. Sharples as Directors.

About Paramount Pallet Inc.
Paramount Pallet Inc. employs approximately 200 people and provides pallet
services to companies in various industries across Canada. The company is
the only national full pallet services provider. Paramount facilities can be found
in Calgary, AB; Edmonton, AB; Moncton, NB; Montreal, PQ; Toronto, ON;
Winnipeg, MB and Vancouver, BC. Headquarters will be located in the Toronto, ON facility.

About IFCO Systems
IFCO Systems is an international logistics service provider with more than 150
locations worldwide. IFCO Systems operates a pool of more than 75 million
RPCs (Reusable Plastic Containers) globally, which are used primarily to
transport fresh produce from producers to leading grocery retailers.

In the United States, IFCO Systems also provides a national network of pallet
management services. With more than 50 million wooden pallets recycled
annually, IFCO Systems is the market leader in this industry.

In 2004, IFCO Systems generated revenues of 495.9 million USD. IFCO
Systems is listed on the Frankfurt Stock Exchange in the Prime Standard segment (IFE1)