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AIR EXPRESS INTERNATIONAL ANNOUNCES

 DARIEN, Conn., July 1 /PRNewswire/ -- Air Express International Corporation (AMEX: AEX) (AEI) reported today that it has completed the acquisition of the Votainer group of companies from Royal Van Ommeren NV of Rotterdam, The Netherlands for a cash purchase price of $12.0 million plus the assumption of certain indebtedness to Van Ommeren estimated to be $3.0 million. On May 12, 1993, AEI announced its intention to acquire the Votainer group.
 The Votainer organization's geographic network consists of 34 company-operated locations in 12 countries with a staff of approximately 500 people and is supplemented with 70 agent locations in 37 countries. Votainer's 1992 gross revenues were in excess of $100 million.
 Guenter Rohrmann, president and chief executive officer of AEI, stated, "With the acquisition of Votainer, AEI has achieved one of its objectives of providing ocean freight capabilities on a global scale. Votainer, which will be operated as a separate entity, has a very strong worldwide network with a geographic reach that parallels AEI's airfreight network. This acquisition will further strengthen AEI as a provider of high quality global logistics services."
 Air Express International is the oldest U.S.-based international air freight forwarder. The company reported earnings for the quarter ended March 31, 1993 of $3,452,000 or $.29 per share on revenues of $153,344,000.
 -0- 7/1/93
 /CONTACT: Dennis M. Dolan, vice president and chief financial officer of Air Express International, 203-655-7900/
 (AEX)


CO: Air Express International; Votainer ST: Connecticut IN: AIR SU: TNM

SM-LR -- NY016 -- 7573 07/01/93 09:24 EDT
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Publication:PR Newswire
Date:Jul 1, 1993
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