EXHIBIT 99.1
For Immediate Release


Clark Holdings Inc. Announces Preliminary
Fourth Quarter and 2009 Year End Results
 
New York, NY, March XX, 2010 – Clark Holdings Inc. (“Clark”)(NYSE AMEX: GLA; GLA.U; GLA.WS), a non-asset-based provider of mission-critical supply chain solutions, today announced preliminary unaudited financial results for the fourth quarter and fiscal year ended January 2, 2010.

Net loss attributable to Clark’s common stockholders for the 13 weeks ended January 2, 2010 was $497,000 ($0.05 per diluted common share) and net loss for the 14 weeks ended January 3, 2009 was and $64,270,000 ($5.92 per diluted common share). Clark incurred several non-recurring expenses during the 13 weeks ended January 2, 2010 that, in aggregate, reduced income by $680,000.  During the quarter, Clark entered into severance and non-compete agreements with three members of management at a total cost of $466,000.  The company incurred $214,000 in legal and professional fees to reach an agreement with the sellers of the Clark Group, Inc that reduced the original purchase price paid by Clark by $1,275,000.

Net loss attributable to Clark’s common stockholders for the 52 weeks ended January 2, 2010 was $1,530,000 ($0.14 per diluted common share) and net loss for the 53 weeks ended January 3, 2009 was and $63,661,000 ($5.63 per diluted common share).

Clark also announced that it has obtained a commitment letter from Cole Taylor Bank for a new $6,000,000 revolving credit facility and an extension until March 9, 2010 of its existing credit arrangements with Bank of America, N.A.  Clark expects to close the new revolving facility prior to such date.
 
 
 

The following information was filed by Clark Holdings Inc. on Wednesday, March 3, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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