Clark Holdings Announces Adoption of Merger Agreement by Its Stockholders

Clark Holdings Inc. (NYSE: GLA) today announced that its stockholders voted at a special meeting held today to adopt the previously announced definitive merger agreement with Gores Logistics Holdings, LLC, an affiliate of The Gores Group, LLC. Clark expects that the merger contemplated by the definitive merger agreement will close on November 4, 2011.

At the closing of the merger, each share of Clark's common stock will be converted into the right to receive $0.46 in cash and Clark will become a wholly-owned subsidiary of Gores Logistics. Clark expects that its common stock will cease trading on NYSE Amex at the close of business on November 4, 2011 and Clark expects to thereafter deregister and suspend its reporting obligations under the Securities Exchange Act of 1934, as amended.