Wright Express Extends Its Existing Fuel-Price Risk Management Program

Wright Express Corporation

announced today that it has extended its existing fuel-price risk management program through the third quarter of 2013. On March 2, 2012, the Company purchased instruments to cover a portion of its anticipated domestic fuel-price-related earnings exposure for the first, second and third quarters of 2013. At this time, Wright Express has hedged 80% of its exposure through the first-quarter of 2013, 53% of its second-quarter 2013 exposure and 27% of its third-quarter 2013 exposure. Going forward, the Company intends to hedge approximately 80% of its domestic fuel-price-related earnings exposure in every quarter on a rolling basis. The instruments are designed to enhance the visibility and predictability of the Company's future earnings. The program uses instruments that create a "costless collar" based upon both the U.S. Department of Energy's weekly diesel fuel price index and NYMEX unleaded gasoline contracts. The March 2 purchase locked in a fuel price range of approximately $3.58 to $3.64 per gallon.