West Palm Beach, Florida, September 6, 2006 – The ComVest Group announc ed today that it has sign ed a definitive agreement with The Stonepath Group (AMEX: STG), to purchase Stonepath Logistics International Services , Inc. (“SLIS”) and also expects to finalize the agreement to purchase the Stonepath Logistics (Germany) GmbH unit, for a propos ed combin ed purchase price of $18 million. SLIS, which was acquir ed by Stonepath Group in 2002, is Stonepath’s Seattle, Washington bas ed logistics business that provides international air and ocean logistics services.

The ComVest Group, through its private equity control fund, ComVest Investment Partners II LLC, has partner ed with Jason F. Totah, who serv ed as The Stonepath Group’s previous Chief Executive Officer, to effect the buyout of these division(s). The investment vehicle form ed to consummate the transaction is JTM Acquisition Corporation (“JTM”), and will be controll ed by ComVest. Jason Totah will continue to manage SLIS.

Consummation of the sale is subject to conditions including, without limitation, the receipt of funding by JTM’s contemplat ed source of financing for the sale, receipt by JTM and Stonepath of applicable consents, approvals and releases, and the receipt by Stonepath’s Board of Directors of a fairness opinion from a valuation advisor as to the purchase price to be receiv ed in the sale.

Bas ed on the purchase agreement, ComVest expects to complete the transaction on or about October 2, 2006.

About Stonepath

The Stonepath Group (AMEX: STG) is a global, third-party logistics organization providing a full range of transportation and distribution solutions to multinational and local businesses including a diverse client mex of retail leaders, automotive and technology concerns, government agencies, and defense contractors. For more information on Stonepath, visit www.stonepath.com.

About ComVest

The ComVest Group is a Leading Private Equity Firm focus ed on investing in middle-market companies. Since 1988 ComVest has invest ed more than $2 billion of equity capital in over 200 public and private companies worldwide. Through our extensive financial resources and broad network of industry experts, we are able to offer our companies total financial sponsorship, critical strategic support, and business development assistance. Our focus is center ed on Building Industry Leading Companies and Creating Long Term Value for Equity Holders. For more information on ComVest, visit www.comvest.com.