Notice to Employees and Eligible Employees of Exel, Inc. and Exel Global Logistics, Inc.

This document is about a notice to employees and eligible employees of Exel, Inc. and Exel Global Logistics, Inc. regarding an application for authorization under Prohibited Transaction Exemption 96-62 to allow the reinsurance of risks and receipt of premiums by Marias Falls Insurance Company, Limited (MFI - Vermont), Exel's captive insurance company, for the long-term disability benefits offered under the Group Long Term Disability Plan for employees of Exel. The notice outlines the proposed transaction, the parties involved, the benefit improvements that will be provided, and the employee's right to comment on the tentative authorization.