Allied Emerges From Chapter 11

Allied Systems Holdings, Inc., formerly Allied Holdings, Inc., announced today that, effective as of May 29, 2007, it has emerged from bankruptcy.
The Company has substantially consummated the transactions contemplated by its Second Amended Joint Plan of Reorganization that was filed by Allied, together with Yucaipa American Alliance Fund I, LP, Yucaipa American Alliance (Parallel) Fund I, LP and the International Brotherhood of Teamsters.
The joint plan was confirmed by the U.S. Bankruptcy Court for the Northern District of Georgia on May 18, 2007.
Allied Systems Holdings, Inc., is the parent company of several subsidiaries in the distribution and transportation services of new and used vehicles to the automotive industry. The services of Allied’s subsidiaries include car-hauling, intramodal transport, inspection, accessorization and dealer prep.