Chairman and CEO John Dasburg and U.S. Investors to Purchase All Outstanding Shares of DHL Airways.

Business Editors

MIAMI--(BUSINESS WIRE)--May 21, 2003

DHL Airways today announced that a U.S. investor group, led by its Chairman and Chief Executive Officer John Dasburg, has reached an agreement to purchase all of the outstanding shares of DHL Airways, Inc. Dasburg said that the transaction will further solidify the airline's U.S. control and management, while putting the company on a new path toward becoming a global air cargo leader. The name of the company will be changed in the near future.

The other members of the investment group are Richard C. Blum, Chairman of San Francisco-based Blum Capital Partners, L.P., a leading private equity firm, and Michael R. Klein, a Washington, D.C. business executive and lawyer who is co-founder and Chairman of the Board of Directors of CoStar Group, Inc.

According to Dasburg, the company will continue to focus on what has been its core business - "wholesale" overnight "small package" business - while at the same time looking for attractive opportunities to expand its charter, Department of Defense, and Postal Service business. Growth will occur both through internal expansion and through future acquisitions. The airline also will improve utilization of its existing fleet of 40 aircraft for additional charter opportunities.

Dasburg currently owns 5% of the airline. The remaining shares of DHL Airways are being purchased from Idaho private investor William A. Robinson and from DHL Holdings (USA), Inc.

The prospective owners expect to complete the acquisition of DHL Airways by June 30, 2003 and plan to operate the airline as a privately held company. Dasburg will continue to serve as Chairman and CEO, a position he assumed on April 1, 2003. The acquisition is subject to approval by the U.S. Department of Transportation.

Prior to joining DHL Airways, Dasburg served as Chairman, Chief Executive Officer and President of the Burger King Corporation. He led the turnaround of the company that culminated in its December 2002 sale. Prior to joining Burger King, Dasburg served ten years as President and Chief Executive Officer of Northwest Airlines, the world's fourth largest airline. Under Dasburg's leadership as President and CEO of Northwest, the company established its reputation for operational excellence, experienced consistent and profitable growth and became known as a strategic innovator.

DHL Airways also announced today that, upon completion of the sale of the company, it would enter into a new 11-year agreement to provide air cargo services for DHL Worldwide Express.

In announcing the details of the acquisition, Dasburg emphasized that DHL Airways is now -- and will continue to be -- an American company. "DHL Airways is all-American owned and all-American managed. It employs nearly 1,000 Americans," said Dasburg. Dasburg also noted that the airline and its employees were actively engaged in providing service to the U.S. Department of Defense during the Iraqi conflict, and currently serves the U.S. military with missions to Guantanamo Bay, Cuba, Roosevelt Roads, Puerto Rico, Ramstein Air Force Base, Germany, and other military bases around the world.

DHL Airways maintains a cargo hub at Cincinnati/Northern Kentucky International Airport and operates 40 aircraft in the United States. The company is headquartered in Miami, Florida.

                            DHL Airways Q&A

Ownership & Control:


1. Explain the purchase of DHL Airways and when it will be finalized.

    --  A U.S. investor group, led by DHL Airways' Chairman and Chief
        Executive Officer John Dasburg, has reached an agreement to
        purchase all of the outstanding shares of DHL Airways, Inc.
        The Dasburg-led investment group plans to complete the
        acquisition by June 30, 2003 and plans to operate the airline
        as a privately held company. The acquisition has been
        submitted to the DOT today May 21 for approval.

2. In addition to John Dasburg, who are the new owners of DHL Airways?

    --  The other members of the investment group are Richard C. Blum,
        Chairman of San Francisco-based Blum Capital Partners, L.P., a
        leading private equity firm, and Michael R. Klein, a
        Washington, D.C. business executive and lawyer who is
        co-founder and Chairman of the Board of Directors of CoStar
        Group, Inc. All of the new owners are U.S. citizens. Mr.
        Dasburg and Mr. Blum have known each other for over 20 years.
        Mr. Blum and Mr. Klein have been business associates for over
        20 years.

3. Will there be a new management team or structure at DHL Airways?

    --  There will be no changes in the day-to-day operations of the
        airline at this time.

    --  John Dasburg will remain DHL Airways' Chairman and Chief
        Executive Officer.

4. How will the company be organized?

    --  The new owners plan to operate the airline as a privately held
        company.

5. Will William Robinson have any role?

    --  All of Mr. Robinson's shares are being purchased by the
        Dasburg-led investment group.

6. What is the relationship between DHL Airways and DHL Worldwide
express?

    --  Upon the completion of the transaction there will be an ACMI
        contract between DHL Airways and DHL Worldwide Express which
        is an arms-length negotiated contract that provides DHL
        Airways with a solid and reliable base of business. It does
        not restrict, in any way, the freedom of DHL Airways to pursue
        other customers or other lines of business, which it has done
        and will continue to do.

7. How many U.S. citizens are currently employed by DHL Airways?

    --  DHL Airways employs nearly 1,000 U. S. citizens, many of whom
        have supported the U.S. war effort in Iraq, both by fulfilling
        military obligations as members of the reserve, and in
        fulfilling contracts with the Department of Defense to carry
        munitions, medical supplies and mail to our men and women
        serving in Iraq and other theaters.

Operations:

1. How will this transaction affect Airways' operations?

    --  Other than continuing the efforts to improve the utilization
        of our existing fleet of 40 aircraft for additional charter or
        other opportunities, there will be no immediate changes in the
        operations of DHL Airways, including the location of our hub.
        The objective of the prospective owners is to grow DHL
        Airways, putting the company on a path toward becoming a
        global air cargo leader.

2. Will jobs be moved outside of the U.S.?

    --  Jobs will not be moved outside the U.S. as a result of this
        transaction. DHL Airways is a U.S. based airline with
        headquarters in Miami, Florida and a cargo hub at
        Cincinnati/Northern Kentucky International Airport. All of
        that will continue after completion of this transaction.

    --  The objective of the prospective owners is to grow DHL
        Airways, putting the company on a new path toward becoming a
        global air cargo leader. This will create more jobs in the
        United States and abroad.

3. Are the new owners going to pursue new business opportunities?

    --  DHL Airways will continue to focus on its core "wholesale"
        overnight "small package" business, while at the same time
        looking for attractive opportunities to expand its charter
        business.

4. Where will the DHL Airways be headquartered?

    --  DHL Airways' headquarters will remain in Miami, Florida.

5. What will the new company name be?

    --  We will unveil the new company name and logo in the near
        future.

Strategy & Vision:

1. What is John Dasburg's vision for the company?

    --  John Dasburg intends to concentrate on improving the already
        high level of operational performance and reliability of the
        company. Focusing on operational excellence, he intends to
        lead the company on a path to make DHL Airways an air cargo
        leader. Growth at DHL Airways will occur both through internal
        expansion and through future acquisitions.

    --  The objective of the prospective owners is to grow DHL
        Airways, putting the company on a new path toward becoming a
        global air cargo leader.

    --  DHL Airways will continue to focus on its core "wholesale"
        overnight "small package" business, while at the same time
        looking for attractive opportunities to expand its charter
        business.

2. What plans does DHL Airways have to enhance its presence in the
United States?

    --  DHL Airways will strike out on a new path toward becoming a
        global air cargo leader.

    --  To demonstrate the changes that will take place at DHL
        Airways, the company will soon unveil a new corporate name and
        identity.

3. Are there any plans to take DHL Airways public?

    --  DHL Airways will be operated as a privately held company.

4. Will DHL Airways be purchasing new aircraft?

    --  Consistent with plans for growth of the airline, management is
        currently exploring several fleet plan options. We will keep
        you informed as the plans materialize.

The Acquisition:

1. What percentage of the company will Dasburg acquire?

    --  John Dasburg and his investment group will acquire 100% of DHL
        Airways.

2. What percentage of DHL Airways did Dasburg own prior to this
acquisition?

    --  Dasburg owned 5% of DHL Airways.

3. What percentage of the airline will the other investors own? What
are their individual shares?

    --  Since this transaction will result in DHL Airways becoming a
        private company, details of investments are not being made
        public. These details will be provided to the Department of
        Transportation in due course.

4. What is cost of this transaction?

    --  The cost of the transaction will be $57 million dollars.

5. Do you expect any opposition from regulators or Capitol Hill?

    --  We believe that this is a positive transaction that will
        create more jobs and a stronger competitor in the air cargo
        business. We also believe that this transaction resolves any
        doubts that may have existed regarding DHL Airways'
        citizenship and the regulators and lawmakers will, as a
        result, react positively to this development.

6. How will this transaction impact the current DOT inquiry regarding
DHL Airways ownership?

    --  We have submitted the transaction to the Department for its
        review and approval. We are hopeful that it resolves any
        lingering doubts that have been raised about DHL Airways'
        citizenship. We look forward to cooperating with the
        Department and answering any questions it may have. It is for
        the DOT to decide how it intends to proceed.

7. How does DHL Airways refute claims made by UPS & FedEx?

    --  We doubt that any facts regarding DHL Airways will mollify UPS
        and FedEx which have as their sole and consuming goal
        eliminating DHL Airways as a competitor in the overnight
        package business.

    --  Although we expect that they will trudge on in their campaign
        we believe they will have a hard time demonstrating that John
        Dasburg, Richard Blum and Michael Klein are foreign citizens,
        or are under the control of foreign interests.

8. Are you in discussions to acquire ABX Air?

    --  As a matter of policy, the Company does not discuss possible
        future acquisition transactions.