Amertranz Worldwide Holding to Trade on Over-The-Counter Market; Company is Appealing NASDAQ Ruling.

GREENSBORO, N.C.--(BUSINESS WIRE)--Feb. 25, 1998--Amertranz Worldwide Holding Corp. (NASDAQ:AMTZC/AMTWC) announced today that effective Feb. 25, 1998, the company's common stock and warrants will be on the Over-The-Counter (OTC) market through which real-time quote, price and volume information is electronically available for the company's securities.

The company said that it had been informed by NASDAQ that, although the company meets all of the previous maintenance listing criteria and all but one of the newly adopted maintenance listing criteria that became effective Feb. 23, 1998, the company will not continue its listing on the NASDAQ SmallCap market effective Feb. 25, 1998. The newly adopted maintenance criteria is expected to effect some 600 NASDAQ listed companies.

The company said that the one newly adopted continued maintenance listing criteria that the company does not currently meet relates to net income. The company noted that it currently exceeds the net income test in its current fiscal year by reporting net income of more than $500,000 for the fiscal six months ended Dec. 31, 1997. The company is presently appealing NASDAQ's ruling.

The company further pointed out that since its restructuring in June 1997, it has attained two consecutive profitable quarters and with its current annual sales rate for fiscal 1998 of $100 million that it is one of the top 10 non-integrated domestic freight forwarders in the United States.

Since its restructuring, the company, through its two wholly owned subsidiaries, Caribbean Air Services Inc. and Target AirFreight Inc. has: -0-

-- Increased revenues to $50.2 million for the first six months

of fiscal 1998.

-- Attained profitability -- reporting more than $500,000 in net

income in first six months of fiscal 1998.

-- Reduced Selling, General and Administrative expenses as a

percentage of sales allowing for a $15.5 million increase in

sales for the first six months of fiscal 1998, compared with

fiscal 1997, while SG&A expenses were reduced by more than

$700,000.

According to Stuart Hettleman, president and chief executive officer of Amertranz, "Amertranz and its subsidiaries Caribbean Air Services and Target AirFreight are in a much improved financial position since our restructuring in June 1997.

"Our Caribbean Air Services subsidiary is the leading air freight forwarder between the United States and Puerto Rico, moving in excess of 90 million pounds annually. Caribbean recently started new daily prime time service between Indianapolis and Puerto Rico which has been extremely well received."

Hettleman added: "Target AirFreight, which has both domestic and international operations, has continued to expand its offering of services. As an example, Target recently announced that its China joint venture received a Class-A license to operate transportation service in China. This was one of only a few such licenses issued in all China in 1997."

"We have succeeded in building a strong company -- one of the top 10 non-integrated domestic freight forwarders in the country." Hettleman continued: "Our Target AirFreight subsidiary now has offices throughout the United States and is represented in over 70 countries worldwide. Caribbean Air Service is aggressively expanding in its Puerto Rican niche market.

"Now that our restructuring is completed and we have produced increased revenues and profits for consecutive quarterly periods since the restructuring, we believe Amertranz has a sound foundation for future growth."

Amertranz Worldwide Holding provides freight forwarding services through its wholly owned subsidiaries, Caribbean Air Services Inc. and Target AirFreight Inc. The company also provides total logistics services. -0-

Statements contained in this press release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Although Amertranz Worldwide believes that the expectations reflected in such forward- looking statements are reasonable, the forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projections.

Note to Editors: This release and other related press materials are available on the KCSA Worldwide Web site at www.kcsa.com.

CONTACT: Amertranz Worldwide Holding Corp.

Stuart Hettleman, 410/338-0127

or

KCSA Worldwide, New York 

Joseph A. Mansi/Anne Maguire, 212/682-6300 (ext. 205/291)