QUIKTRAK MOVES MATT HENNESSEE TO INDEFINITE ADMINSTRATIVE LEAVE

Beaverton, Ore. – November 7, 2005. Today, QuikTrak Board of Directors unanimously voted to place Matt Hennessee on indefinite administrative leave status from his position as president, CEO and director.

The move was prompted by personal issues of which company officials had been unaware prior to this past Friday, November 4, 2005. Greg Froomer, a QuikTrak senior vice president and company co-founder, has been appointed interim president and CEO.

“Matt Hennessee has led QuikTrak during his six-and-one-half year tenure. However, the recent developments concerning Mr. Hennessee's personal issues – about which we learned for the first time on Friday morning – have caused us great concern as they relate to integrity, a value which is core to QuikTrak and our culture,” stated Donald Froomer, QuikTrak chairman and company co-founder.

(Full story are reported in Monday's edition :)

http://www.leasingnews.org/archives/November%202005/11-07-05.htm#abuz

About QuikTrak

QuikTrak is the leader in providing technology-based inspection and inventory auditing services for financial institutions, manufacturers, and leasing firms throughout the U. S., Canada, and internationally. Utilizing a network of over 1500 inspectors worldwide, QuikTrak is able to provide the industry's fastest, most accurate and reliable service. Founded in 1991, QuikTrak offers services to many of the world's leading financial institutions, including several Fortune 500 companies. Headquartered in Beaverton, Ore., the 15-year old company employs 75 Oregonians.