SIRVA Files Form 8-K Announcing Amendment to Receivable Sales Agreement

CHICAGO, June 2 /PRNewswire-FirstCall/ -- SIRVA, Inc. , a global relocation services provider, announced today that it has filed a Current Report on Form 8-K with the Securities and Exchange Commission. The Form 8-K discloses an amendment to the Receivable Sales Agreement, under which a SIRVA subsidiary sells undivided percentage interests in a receivables portfolio on a non-recourse basis to certain unaffiliated third party financial institutions. SIRVA, through various subsidiaries, entered into the amendment today, with an effective date of May 31, 2005.

Among other things, the amendment revised the definition of "Eligible Receivables" and the maximum permitted Default Ratio.

The Form 8-K contains a summary of the terms of the amendment, and a complete copy of the amendment is included as an exhibit to the Form 8-K. Please refer to the 8-K filing at http://www.sec.gov/ for a complete understanding of the amendment.

About SIRVA, Inc.

SIRVA, Inc. is a leader in providing relocation solutions to a well-established and diverse customer base around the world. The company is the leading global provider that can handle all aspects of relocations end-to-end within its own network, including home purchase and home sale services, household goods moving, mortgage services and insurance. SIRVA conducts more than 365,000 relocations per year, transferring corporate and government employees and moving individual consumers. The company operates in more than 40 countries with approximately 7,500 employees and an extensive network of agents and other service providers. SIRVA's well-recognized brands include Allied, northAmerican, Global, and SIRVA Relocation in North America; Pickfords, Huet, Kungsholms, ADAM, Majortrans, Allied Arthur Pierre, Rettenmayer, and Allied Varekamp in Europe; and Allied Pickfords in the Asia Pacific region. More information about SIRVA can be found on the company's Web site at http://www.sirva.com/

Forward-Looking Statements

This release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical, but are made based on management's current expectations and beliefs concerning future developments and their potential effects upon SIRVA, Inc. and its subsidiaries. There can be no assurance that future developments affecting us will be those anticipated by management. These forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and other factors, including without limitation those described under the caption "Business-Investment Considerations" and other risks described in our 2003 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other reports we submit to the SEC from time to time. We do not intend, and are under no obligation, to update any particular forward-looking statement included in this release.