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Pricelock and Wright Express Team Up to Expand Fuel Price Risk Management Program Options for Fleets

SOUTH PORTLAND, Maine--(BUSINESS WIRE)--Apr. 27, 2009-- Pricelock, the world’s only electronic marketplace offering fuel hedging to businesses, and Wright Express [NYSE: WXS] have joined forces to offer fuel price and budget risk management solutions to Wright Express fleet customers.

The new partnership enables Pricelock and Wright Express to provide fleet customers with the option to purchase fuel at a certain fixed daily price for a fixed volume, and to effectively manage those purchases. Covering fleets of all sizes and levels of fuel consumption, this unique suite of products delivers budget control and price protection options to businesses by offering simple ways to manage the cost of fuel.

“We are delighted to offer our fuel price protection program to Wright Express customers,” said Pricelock Chief Operating Officer Naveen Agarwal. “Presently, fleet managers have a great opportunity to price protect their fuel budgets as gas and diesel prices continue to be at historic lows. We are pleased to be part of Wright Express’ vision to include our fuel price protection solutions as an integrated part of their fuel management offering.”

“Customers are increasingly looking for ways to minimize the risk associated with fuel price fluctuations and monitor and manage their price-protected gasoline reserves on-line and in real time,” said Wright Express Executive VP of Sales and Marketing David Maxsimic. “Wright Express and Pricelock offer unique functionalities to their respective customers. By combining the offerings of each company, we will be able to jointly provide relevant new services that simplify fleet management and save our customers time and money. This relationship is an exciting opportunity for both companies and their customers.”

The new suite of fuel price risk management products allows customers to continue to use their current Wright Express program, with the settlement occurring on the Wright Express statement one month in arrears as an ancillary statement.

About Pricelock

Pricelock, based in Redwood City, California, is the world’s first company to combine patented technology and a novel hedging strategy to bring businesses price predictability to increasingly volatile fuel prices. The company also offers Carbonlock™, a unique, patented “green fleet” program that allows fleets and businesses to efficiently acquire certified carbon offsets and become carbon neutral. Pricelock can be found on the Web at

About Wright Express

Wright Express is a leading global provider of payment processing and information management services. Wright Express captures and combines transaction information from its proprietary network with specialized analytical tools and purchasing control capabilities in a suite of solutions that enable fleets to manage their vehicles more effectively. The Company's charge cards are used by commercial and government fleets to purchase fuel and maintenance services for approximately 4.5 million vehicles. Wright Express markets its services directly to fleets and as an outsourcing partner for its strategic relationships and franchisees. The Company's business portfolio includes a MasterCard-branded corporate card as well as TelaPoint, a provider of supply chain software solutions for petroleum distributors and retailers, and Pacific Pride, an independent fuel distributor franchisee network, as well as international subsidiaries. For more information about Wright Express, please visit

This press release contains forward-looking statements, including statements regarding potential marketplace success for the fuel price risk management program being jointly offered by the Company and Pricelock. These forward-looking statements include a number of risks and uncertainties that could cause actual results to differ materially, including: volatility in fuel prices; risks related to customer and counterparty bankruptcies and credit failures; effects of competition; the potential loss of key strategic relationships; decreased demand for fuel and other vehicle products and services and the effects of general economic conditions on the commercial activity of fleets; the ability to rapidly implement new technology and systems; and the other risks and uncertainties included from time to time in the Company’s filings with the Securities and Exchange Commission, including the annual report on Form 10-K filed on February 27, 2009, and the Company’s other periodic and current reports. Wright Express Corporation undertakes no obligation to update these forward-looking statements at any future date or dates.

Source: Wright Express

Wright Express
Jessica Roy, 207-523-6763