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 SAN FRANCISCO, Aug. 4 /PRNewswire/ -- Effective July 24, 1993, Fritz Companies Inc. (NASDAQ: FRTZ) has acquired Masters Airfreight Pte. Ltd., an international air freight forwarding company-based in Singapore, doubling Fritz' Singapore revenue. Masters Airfreight Pte. Ltd. has been in business over 12 years, and has annual gross revenues of approximately 7 million Singapore dollars (USD 4.5 million).
 Singapore is one of the largest and most important air and sea freight hubs in Southeast Asia and serves as a strategic gateway handling Fritz operations throughout this region. The acquisition of Masters Airfreight enhances overall operations by providing dedicated airport facilities which will allow Fritz to expand the logistics services being provided to key clients in the area. Commented Joe Monaghan, managing director for Fritz-Asia, based in Hong Kong, "We expect significant growth in size over the next 18 months in Asia, partly through organic growth and partly through strategic acquisitions."
 Lynn Fritz, chairman, president and chief executive officer of Fritz, stated, "The acquisition will not only complement but also enhance Fritz' existing air freight operations in Singapore, allowing us to handle more effectively both inbound and outbound freight." Already established is FAF-Fritz Pte. Ltd., Fritz' air freight office in Singapore, which handles primarily outbound traffic. The new facility, which is located at the Singapore airport and has its own warehouse in the cargo complex at Changi International Airport, can effectively handle both inbound and outbound air freight, as well as provide consolidation services.
 Albert Goh, who has over 20 years of experience in the transportation industry and is the founder of Masters Airfreight, will assume the position of general manager, Fritz Airfreight Singapore.
 Commented Dennis Pelino, executive director of Fritz, based in San Francisco, "This acquisition has moved Fritz well into the top 20 forwarders in the industry in Singapore. This allows us to expand relationships with key airlines, affording us the opportunity to provide cost-effective service to many more tradelanes than we previously handled. We now have the capabilities to effectively handle air inbound needs for non-U.S.-based companies, who are importing cargo into Singapore from Europe, Inter-Asia and Australia." Metro, BP Singapore and Alfred Dunhill are current Fritz clients availing themselves of the company's full array of transportation logistics services.
 Throughout the Far East and Australasia, Fritz has offices in Hong Kong, Bangladesh, China, Indonesia, Japan, Korea, Malaysia, Nepal, the Philippines, Sri Lanka and Taiwan, with 650 employees in 39 offices in 28 Asian cities. Fritz also has representatives in Australia, United Arab Emirates, India and New Zealand.
 Since its founding in 1933, Fritz has expanded an office network and scope of services unparalleled in the industry. As the first organization based in the United States to offer a full range of global integrated logistics services, Fritz Companies is the acknowledged leader in reducing costs and improving customer services for their multinational corporate clients.
 -0- 8/4/93
 /CONTACT: Andrea Goffstein of corporate communications for Fritz, 415-904-8601/

CO: Fritz Companies Inc.; Masters Airfreight Pte. Ltd. ST: California IN: TRN SU: TNM

GT-LH -- SF001 -- 9213 08/04/93 09:01 EDT
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Publication:PR Newswire
Date:Aug 4, 1993

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