Maxum Petroleum Selects Zytax for Excise Motor Fuel Compliance and Determination

Fastest Growing Private Company in America Chooses Industry Leader to Reduce Compliance Risk and Improve Accuracy

HOUSTON – January 26, 2010 – Zytax, a wholly owned subsidiary of FuelQuest, Inc. and supplier of software solutions for indirect tax determination and compliance, announced today that Maxum Petroleum, Inc., a national energy marketer and distributor, has entered into a five year agreement with Zytax. Maxum, the fastest growing private company in America, according to Inc. 500, will deploy the Zytax solution to automate tax compliance and determination, reduce filing complexity, and manage transactions and data. The Zytax solution will support a standard tax and determination process for the $4.9 billion organization.

“Our team recognizes the benefits of automating our tax compliance and determination,” said Gerry Molina, CIO of Maxum. “We hope to realize increased efficiencies which will ultimately save our organization time and money. Reallocating these resources will provide our team the opportunity to focus on what they do best.”

Maxum will use the Zytax compliance and determination solutions to:

Reduce compliance risk and enhance credibility by avoiding audits as well as excessive fines, fees and penalties
Enhance compliance accuracy and efficiency
Determine the appropriate tax types for each transaction and streamline internal filing processes, via automation
Calculate the taxes and update transactions for appropriate tax account postings
Centralize the tax determination process to optimize total cost of ownership and improve cash flows.

The Zytax compliance solution is used by more than 600 customers to automate accurate reporting and payment to the appropriate state and federal jurisdictions. Zytax determination calculates transactional taxes to ensure accurate invoices as part of a financial workflow, greatly reducing credit and rebills, as well as overpayment and underpayment risk.

“FuelQuest is pleased to partner with Maxum to address their excise tax compliance needs as they aggressively grow their fuel distribution network,” said Matt Tormollen, president and CEO of FuelQuest. “FuelQuest’s Zytax solutions are best in class and simultaneously reduce business risk and the resources necessary to ensure compliance with fuel-related excise taxes.”

About Maxum Petroleum
Maxum Petroleum, Inc., based in Greenwich, CT, is a leading independent energy logistics company that markets and distributes a comprehensive offering of refined petroleum products and services to commercial and industrial customers. Maxum Petroleum is continuing a strategic growth and acquisition plan in the fragmented commercial fuel and lubricant distribution industry, launched in 2004 with the acquisition of Simons Petroleum To date, Maxum has completed 12 acquisitions of fuel and lubricant marketers and facilities, including Simons Petroleum, Trevco, Hartney, Pecos (including its General Petroleum and Raineer Petroleum subsidiaries), Canyon State Oil, Petroleum Products, Paulson Oil and Mid-State Industrial Lubricants. In January 2009, Maxum received a $300 million equity investment from leading private equity firms Metalmark Capital and Waud Capital Partners to further its consolidation strategy.

About Zytax
Zytax, a wholly owned subsidiary of FuelQuest, Inc., supplies strategic software automation solutions for global indirect tax determination and excise motor fuel compliance for the energy industry. Zytax solutions provide complete visibility across the tax organization increasing the ability to track, forecast and report tax obligations while mitigating risk and reducing fines, fees and penalties. Headquartered in Houston, Texas, Zytax has served the energy industry for more than 14 years, providing excise and specialty tax solutions for more than 700 installed customers. Zytax processes billions of dollars of motor fuel excise taxes per year. For more information call 713.222.5700 or visit www.zytax.com.

Media Contact:
Allison McNulty
FuelQuest
713.222.5742
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