<SEC-DOCUMENT>0001157523-14-004748.txt : 20141208
<SEC-HEADER>0001157523-14-004748.hdr.sgml : 20141208
<ACCEPTANCE-DATETIME>20141208080544
ACCESSION NUMBER:		0001157523-14-004748
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20141205
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20141208
DATE AS OF CHANGE:		20141208

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WORLD FUEL SERVICES CORP
		CENTRAL INDEX KEY:			0000789460
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-PETROLEUM & PETROLEUM PRODUCTS (NO BULK STATIONS) [5172]
		IRS NUMBER:				592459427
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09533
		FILM NUMBER:		141271032

	BUSINESS ADDRESS:	
		STREET 1:		9800 N.W. 41ST STREET
		STREET 2:		SUITE 400
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33178
		BUSINESS PHONE:		305-428-8001

	MAIL ADDRESS:	
		STREET 1:		9800 N.W. 41ST STREET
		STREET 2:		SUITE 400
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33178

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNATIONAL RECOVERY CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a50998164.htm
<DESCRIPTION>WORLD FUEL SERVICES CORPORATION 8-K
<TEXT>
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    <p style="text-align: center">
      <br>
      <font style="font-family: Times New Roman; font-size: 12pt"><b>UNITED
      STATES</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>WASHINGTON,
      D.C. 20549</b></font><br><br>
    </p>
    <hr style="width: 22%; color: #000000; text-align: center; height: 1.0 pt">


    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>FORM 8-K</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>CURRENT
      REPORT</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>PURSUANT
      TO SECTION 13 OR 15(d) OF</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>THE
      SECURITIES EXCHANGE ACT OF 1934</b></font><br><br>
    </p>
    <hr style="width: 22%; color: #000000; text-align: center; height: 1.0 pt">


    <p style="text-align: center">
      <br>
      <font style="font-family: Times New Roman; font-size: 10pt">Date of
      Report (Date of earliest event reported): &#160;December 5, 2014</font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>WORLD
      FUEL SERVICES CORPORATION</b></font><font style="font-family: Times New Roman; font-size: 12pt"><br style="font-family: Times New Roman; font-size: 12pt"></font><font style="font-family: Times New Roman; font-size: 10pt">(Exact
      name of registrant as specified in its charter)</font><br><br>
    </p>
    <div style="text-align:center">
    <table style="margin-left:auto;margin-right:auto; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="text-align: center; width: 33%; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Florida</b>
          </p>
        </td>
        <td style="text-align: center; padding-right: 0.0px; white-space: nowrap; width: 34%; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>1-9533</b>
          </p>
        </td>
        <td style="text-align: center; padding-right: 0.0px; white-space: nowrap; width: 33%; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>59-2459427</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; width: 33%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or other jurisdiction of
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            incorporation)
          </p>
        </td>
        <td style="text-align: center; width: 34%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission File
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Number)
          </p>
        </td>
        <td style="text-align: center; width: 33%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (I.R.S. Employer
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>

    </p>
    <div style="text-align:center">
    <table style="margin-left:auto;margin-right:auto; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="text-align: center; width: 67%; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>9800 N.W. 41<sup>st</sup> Street, Suite 400</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Miami</b>
          </p>
        </td>
        <td style="text-align: center; padding-right: 0.0px; white-space: nowrap; width: 33%; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>33178</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; width: 67%; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Address
            of principal executive offices)</font>
          </p>
        </td>
        <td style="text-align: center; width: 33%; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Zip
            Code)</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      <font style="font-size: 10pt">Registrant&#8217;s telephone number, including
      area code:</font><font style="font-size: 10pt"><b> (305) 428-8000</b></font><br>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font><br>
    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: justify">
      <b>Item 8.01. Other Events</b>
    </p>
    <p>

    </p>
    <p style="text-align: justify">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;World Fuel Services Corporation (&#8220;World Fuel&#8221;) announced today
      that on December 5, 2014, its wholly-owned subsidiary, Petroleum
      Transport Solutions, LLC (&#8220;PTS&#8221;), sold its 50% interest in three joint
      ventures, Dakota Petroleum Transport Solutions, LLC, DPTS Marketing, LLC
      and DPTS Sand, LLC, to certain subsidiaries of Dakota Plains Holdings,
      Inc. (&#8220;DAKP&#8221;), its partner in such joint ventures.&#160;&#160;&#160;The base sales
      price for the disposition was $43 million in cash.&#160;&#160;In addition to the
      base sales price, DAKP will pay PTS future contingent payments equal to
      $0.225 per barrel for crude oil received at the Pioneer Terminal, up to
      a maximum of 80,000 barrels per day through December 2026.&#160;&#160;&#160;
    </p>
    <p style="text-align: justify">

    </p>
    <p style="text-indent: 30.0px; text-align: justify">
      In connection with the sale transaction, World Fuel also agreed to
      indemnify DAKP and certain of its affiliates, including the joint
      ventures, for third party claims arising from the July 2013 train
      derailment in Lac-M&#233;gantic, Quebec (the &#8220;Derailment&#8221;).&#160; We believe this
      indemnification undertaking will not materially increase our potential
      liability associated with the Derailment.&#160; Under the agreement, DAKP
      will allow World Fuel to control the defense of DAKP and the joint
      ventures for claims associated with the Derailment.&#160; In addition, DAKP
      assigned to World Fuel all recoveries from third parties and under
      applicable insurance policies held by DAKP and the joint ventures for
      claims arising out of the Derailment. DAKP has also agreed to indemnify
      us for certain costs and expenses arising out of the Derailment up to
      $10 million.
    </p>
    <p style="text-indent: 60.0px; text-align: left">

    </p>
    <p style="text-align: justify">
      <u><i>Information Relating to Forward-Looking Statements</i></u>
    </p>
    <p>

    </p>
    <p style="text-align: justify">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;This Form 8-K includes forward-looking statements within the
      meaning of the Private Securities Litigation Reform Act of 1995,
      including statements regarding our expectations about the impact of our
      indemnification undertaking on our potential liability.&#160;&#160;These
      forward-looking statements are subject to various risks and
      uncertainties including our cautionary statements and risk factor
      disclosures contained in World Fuel&#8217;s Securities and Exchange Commission
      (&#8220;SEC&#8221;) filings, including its Annual Report on Form 10-K filed with the
      SEC on February 14, 2014 and the press release filed with this Form 8-K.
    </p>
    <p>

    </p>
    <p style="text-align: justify">
      <b>Item 9.01. &#160;&#160;&#160;Financial Statements and Exhibits</b>
    </p>
    <p style="text-align: justify">

    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; width: 100%; margin-bottom: 10.0px; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="width: 4%">
          &#160;
        </td>
        <td style="text-align: left; width: 3%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (c)
          </p>
        </td>
        <td style="text-align: center; width: 10%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Exhibits&#160;&#160;&#160;&#160;&#160;
          </p>
        </td>
        <td style="width: 83%">

        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 10%">

        </td>
        <td style="width: 83%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="text-align: left; width: 3%; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: center; width: 10%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Exhibit No.</u>
          </p>
        </td>
        <td style="text-align: left; width: 83%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Description</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 10%">

        </td>
        <td style="width: 83%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="text-align: left; width: 3%; padding-left: 0.0px" valign="top">

        </td>
        <td style="text-align: center; padding-right: 0.0px; white-space: nowrap; width: 10%; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            99.1
          </p>
        </td>
        <td style="text-align: left; width: 83%; padding-left: 0.0px" valign="top">
          Press Release, dated December 8, 2014.
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: justify">

    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <b>SIGNATURES</b>
    </p>
    <p style="text-align: center">

    </p>
    <p style="text-align: justify">
      Pursuant to the requirements of the Securities Exchange Act of 1934, the
      registrant has duly caused this report to be signed on its behalf by the
      undersigned, thereunto duly authorized.
    </p>
    <p style="text-align: justify">

    </p>
    <p style="text-indent: 30.0px; text-align: justify">

    </p>
    <div style="text-align:center">
    <table style="margin-left:auto;margin-right:auto; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="text-align: left; width: 4%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date:
          </p>
        </td>
        <td style="text-align: left; width: 40%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            December 8, 2014
          </p>
        </td>
        <td style="text-align: left; width: 5%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>World Fuel Services Corporation</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 40%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 39%">

        </td>
        <td style="text-align: left; width: 12%; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 40%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 39%">

        </td>
        <td style="text-align: left; width: 12%; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 40%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="text-align: left; border-bottom: solid black 1.0pt; width: 39%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ R. Alexander Lake
          </p>
        </td>
        <td style="width: 12%">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; width: 4%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="text-align: left; width: 40%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 5%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            R. Alexander Lake
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 40%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Senior Vice President, General Counsel and
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 40%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Corporate Secretary
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      EXHIBIT INDEX<br><br>
    </p>
    <div style="text-align:center">
    <table style="margin-left:auto;margin-right:auto; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="text-align: left; border-bottom: solid black 1.0pt; width: 12%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Exhibit
          </p>
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; width: 5%; padding-left: 0.0px" valign="top">
          &#160;
        </td>
        <td style="text-align: left; border-bottom: solid black 1.0pt; width: 83%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Description
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; width: 12%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            99.1
          </p>
        </td>
        <td style="width: 5%">

        </td>
        <td style="text-align: left; width: 83%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press Release, dated December 8, 2014.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a50998164ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>World
      Fuel Services Corporation Announces Sale of Interests in Crude Oil Joint
      Ventures</b></font>
    </p>
    <p>
      MIAMI--(BUSINESS WIRE)--December 8, 2014--World Fuel Services
      Corporation (NYSE: INT), a global fuel logistics, transaction and
      payment processing company, principally engaged in the distribution of
      fuel and related products and services to customers in the aviation,
      marine and land transportation industries, today announced that its
      wholly-owned subsidiary, Petroleum Transport Solutions, LLC (&#8220;PTS&#8221;), has
      sold its crude oil joint venture interests, which includes the Pioneer
      Terminal in New Town, North Dakota, to its joint venture partner for a
      base sales price of $43 million. In addition to the base sales price,
      PTS will receive future contingent payments equal to $0.225 per barrel
      for crude oil received at the Pioneer Terminal, up to a limit of 80,000
      barrels per day through December 2026.
    </p>
    <p>
      &#8220;Despite exiting these joint ventures, we will continue to offer
      tailored solutions to producers and consumers in the growing North
      American crude oil marketplace,&#8221; stated Michael J. Kasbar, chairman and
      chief executive officer.
    </p>
    <p>
      The transaction will result in a one-time after-tax gain of
      approximately $11 million or $0.15 per diluted share, which will be
      included in the company&#8217;s 2014 fourth quarter results.
    </p>
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    <p>
      <u>Information Relating to Forward-Looking Statements</u>
    </p>
    <p>
      This release includes forward-looking statements within the meaning of
      the Private Securities Litigation Reform Act of 1995, including
      statements regarding our expectations about future contingent payments
      and the effect of the transaction on our earnings, as well as future
      offerings in the crude oil marketplace. These forward-looking statements
      are qualified in their entirety by cautionary statements and risk factor
      disclosures contained in the company&#8217;s Securities and Exchange
      Commission (&#8220;SEC&#8221;) filings, including the company&#8217;s Annual Report on
      Form 10-K filed with the SEC on February 14, 2014. Actual results may
      differ materially from any forward-looking statements due to risks and
      uncertainties, including, but not limited to: the joint ventures&#8217;
      ability to continue receiving crude oil at the terminal and make the
      contingent payments, potential liabilities from indemnification
      obligations under the transaction documents, our ability to capitalize
      on new market opportunities, potential liabilities and the extent of any
      insurance coverage, the outcome of pending litigation and other
      proceedings, the impact of quarterly fluctuations in results, the
      creditworthiness of our customers and counterparties and our ability to
      collect accounts receivable, fluctuations in world oil prices or foreign
      currency, changes in political, economic, regulatory, or environmental
      conditions, adverse conditions in the markets or industries in which we
      or our customers and suppliers operate, our failure to effectively hedge
      certain financial risks associated with the use of derivatives,
      non-performance by counterparties or customers on derivatives contracts,
      loss of, or reduced sales, to a significant government customer,
      uninsured losses, the impact of natural disasters, adverse results in
      legal disputes, unanticipated tax liabilities, our ability to retain and
      attract senior management and other key employees and other risks
      detailed from time to time in the company&#8217;s SEC filings. New risks
      emerge from time to time and it is not possible for management to
      predict all such risk factors or to assess the impact of such risks on
      our business. Accordingly, we undertake no obligation to publicly update
      or revise any forward-looking statements, whether as a result of new
      information, changes in expectations, future events, or otherwise.
    </p>
    <p>
      <u>About World Fuel Services Corporation</u>
    </p>
    <p>
      Headquartered in Miami, Florida, World Fuel Services is a leading global
      fuel logistics company, principally engaged in the marketing, sale and
      distribution of aviation, marine and land fuel products and related
      services on a worldwide basis. World Fuel Services sells fuel and
      delivers services to its clients at more than 8,000 locations in more
      than 200 countries and territories worldwide.
    </p>
    <p>
      The company's global team of market makers provides deep domain
      expertise in all aspects of aviation, marine and land fuel management.
      Aviation customers include commercial airlines, cargo carriers, private
      aircraft and fixed base operators (FBOs), as well as the United States
      and foreign governments. World Fuel Services' marine customers include
      international container and tanker fleets, cruise lines and time-charter
      operators, as well as the United States and foreign governments. Land
      customers include petroleum distributors, retail petroleum operators,
      and industrial, commercial, and government accounts. The company also
      offers transaction management services which consist of card payment
      solutions and merchant processing services to customers in the aviation,
      marine and land transportation industries. For more information, call
      305-428-8000 or visit <u>www.wfscorp.com</u>.
    </p>
    <p>
      CONTACT:<br>World Fuel Services Corporation<br>Ira M. Birns, 305-428-8000<br>Executive
      Vice President &amp;<br>Chief Financial Officer<br>
    </p>
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