Mullen Group Ltd. Announces 2013 Business Plan, Increased Dividend and Declaration of Dividend

    Mullen Group Ltd. Announces 2013 Business Plan, Increased Dividend and
                           Declaration of Dividend

PR Newswire

OKOTOKS, AB, Jan. 15, 2013

OKOTOKS, AB,  Jan. 15,  2013  /PRNewswire/ -  (TSX:  MTL) Mullen  Group  Ltd. 
("Mullen  Group"  and/or  the  "Corporation")  announced  today  its   capital 
expenditure plan for 2013 as approved by the Board of Directors. The Board of
Directors considered  a  wide  range of  economic  issues,  commodity  pricing 
predictions  and  forecasted  drilling  activity  for  the  Western   Canadian 
Sedimentary Basin. The preliminary  capital budget for 2013  is set at  $80.0 
million, which represents a  decline of approximately  $23.0 million from  the 
actual capital  expended for  2012. Mullen  Group expects  to allocate  $55.0 
million  to  the  Oilfield   Services  segment  and   $25.0  million  to   the 
Trucking/Logistics segment. The majority of the funds will be used to acquire
new trucks,  trailers  and  specialized  equipment  to  support  the  on-going 
operations of Mullen Group's Business Units. As the need arises, the Board of
Directors will consider  additional capital requests  throughout the year  for 
special projects, the purchase and development of land, or for acquisitions.

"I am pleased that the Board  of Directors accepted the recommendation of  our 
Senior Executive Team. This capital will  ensure that our Business Units  can 
remain competitive in  what I  can summarize  as a  very challenging  market. 
These investments,  among  other  things, will  enhance  our  business  units' 
service offerings to our customers, improve our direct operating expenses  and 
support our  human resource  strategy and  recruiting initiatives",  commented 
Murray K. Mullen, Chairman and Chief Executive Officer.

Mullen Group  is also  pleased to  announce that  the Board  of Directors  has 
approved an increase  in the annual  dividend to shareholders  from $1.00  per 
share to $1.20 per share. In addition, Mullen Group will commence paying  the 
dividend monthly as compared to quarterly.  The Board of Directors of  Mullen 
Group also announced today that it has declared a dividend of $0.10 per Common
Share payable  to the  holders of  record of  Common Shares  at the  close  of 
business on  January 31,  2013. The  dividend will  be paid  on February  15, 
2013. For Canadian resident shareholders,  this dividend is designated as  an 
"eligible dividend" for  purposes of  the enhanced dividend  tax credit  rules 
contained in the Income Tax Act (Canada) and any corresponding provincial  and 
territorial tax legislation.

The decision to increase the annual dividend  and to pay it monthly was  based 
upon a number  of factors including;  the expectation that  Mullen Group  will 
continue to generate funds from operations  in excess of that required to  pay 
taxes, interest,  as well  as fund  the on-going  capital investments  in  the 
organization; Mullen Group's strong balance  sheet; and the emerging trend  in 
the capital markets towards sustainable yield investments.

"While we expect 2013 to be a challenging year with little opportunity to grow
our business  due  to economic  and  industry conditions,  Mullen  Group  will 
continue to generate significant cash from operations. The decision our Board
of Directors made today is just another example of how investors in the Mullen
Group are rewarded. We have a solid business model and a very strong  balance 
sheet - the combination which provides us with the confidence to increase  the 
dividend", added Mr. Mullen.

This news release may contain  forward-looking statements that are subject  to 
risk factors associated with the oil and natural gas business and the  overall 
economy. Mullen Group believes that  the expectations reflected in this  news 
release  are  reasonable,  but  results  may  be  affected  by  a  variety  of 
variables. Mullen Group relies on litigation protection for "forward-looking"
statements. Mullen Group is  a company that owns  a network of  independently 
operated businesses.

Today the Mullen Group  is recognized as the  largest provider of  specialized 
transportation and related  services to the  oil and natural  gas industry  in 
western Canada and as one of  the leading suppliers of trucking and  logistics 
services in Canada  - two sectors  of the  economy in which  Mullen Group  has 
strong business relationships and industry leadership. Mullen Group  provides 
management and  financial expertise,  technology and  systems support  to  its 
independent businesses. Mullen Group is a publicly traded corporation  listed 
on the Toronto Stock Exchange under the symbol "MTL".

Additional information is available on our website at www.mullen-group.com  or 
on SEDAR at www.sedar.com.

SOURCE Mullen Group Ltd.

Contact:

Mr. Murray K. Mullen - Chairman of the Board and Chief Executive Officer
Mr. Stephen H. Lockwood - Co-Chief Executive Officer and President
Mr. P. Stephen Clark - Chief Financial Officer

121A - 31 Southridge Drive
Okotoks, Alberta, Canada T1S 2N3
Telephone: 403-995-5200
Fax: 403-995-5296
 
Press spacebar to pause and continue. Press esc to stop.