Exhibit 1



July 11, 1996

For more information, please contact:
Dennis M. Dolan, Vice President and Chief Financial Officer




                     AIR EXPRESS INTERNATIONAL CORPORATION
                   ANNOUNCES ESTABLISHMENT OF CREDIT FACILITY



Darien, Connecticut.....Air Express International Corporation ("AEI") today
announced the establishment of a $75 million syndicated credit facility.  The
facility is a three-year revolving credit loan for which The Bank of New York
is lead agent.  First National Bank of Chicago is co-agent, with First Union
Bank and Bank of Boston as additional participants in the syndicate.

Dennis M. Dolan, Vice President and Chief Financial Officer, stated, "The
establishment of this facility will provide AEI with the flexibility to continue
to strengthen its global network via internal expansion and acquisitions."

Based in Darien, Connecticut, AEI is an integrated logistics company offering
transportation, warehousing and distribution and information service
solutions to customers throughout the world.
















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