---

Leading marine fuel marketing company World Fuel Services Corporation (WFS) has again posted record gross profits for its marine segment and a 21 percent rise in net income compared to the same quarter last year.

The marine division generated a record gross profit of $44.4 million in the second quarter of 2008, an increase of 20% from the prior quarter and 76 percent year-over-year.

Speaking about the results, Michael J. Kasbar, WFS President and Chief Operating Officer said "Our marine segment has now generated year-over-year increases in gross profit for fourteen out of the last fifteen quarters and again posted record results. In our land segment, we completed the Texor acquisition during the second quarter, which doubles our land volumes and significantly improves the financial profile of our land segment going forward."

GAAP net income for the Miami-based firm was $20.5 million, ($0.72 and $0.71 per share on a basic and diluted basis, respectively), compared to $17.0 million ($0.61 and $0.58 per share on a basic and diluted basis, respectively), in the second quarter of 2007.

Non-GAAP net income for the second quarter, which excludes share-based compensation and amortization of acquired intangible assets, was $22.8 million ($0.79 and $0.78 per share on a basic and diluted basis, respectively), compared to $18.7 million, ($0.67 and $0.64 per share on a basic and diluted basis, respectively), in the second quarter of 2007.

The company's aviation segment generated record gross profit of $45.2 million, an increase of 29 percent from the prior quarter and an increase of 47 percent year-over-year.

Paul H. Stebbins [pictured], Chairman and Chief Executive Officer of World Fuel Services Corporation said "During a quarter of significant market turmoil, our aviation segment delivered solid results. Our core aviation business as well as the recently acquired AVCARD business performed well despite a very difficult operating environment."