EXHIBIT 99.1

FOR IMMEDIATE RELEASE

                                    Drew Kronick, Vice President
                                    Consolidated Delivery & Logistics, Inc.
                                    (973) 471-1005

                                    Richard Shonfeld
                                    The Dilenschneider Group
                                    (212) 922-0900


                CONSOLIDATED DELIVERY & LOGISTICS, INC. COMPLETES
                          $15 MILLION PRIVATE PLACEMENT

            Funds Will be Used to Finance Ongoing Acquisition Program


          Clifton, NJ February 2, 1999 - Consolidated Delivery & Logistics, Inc.
(NASDAQ:  CDLI) today  announced that it has completed its previously  announced
$15 million private  placement of senior  subordinated  notes and warrants.  The
issue  was  placed  with  two  financial  institutions.  Proceeds  will  be used
primarily to finance acquisitions.

          Commenting on the transaction,  Albert W. Van Ness, Jr.,  chairman and
chief  executive  officer of CD&L,  said,  "The $15  million  generated  by this
private placement  coupled with the recently  announced  increased  availability
under the Company's  senior  credit  facility  creates a  significant  financing
resource to fuel our ongoing acquisition program."

          "CD&L,  which has  completed  seven  consecutive  quarters of improved
earnings,  increased  annual  revenues by $25 million through the acquisition of
four  companies  during the (more)  past 6 months.  We are  currently  reviewing
several  new  opportunities  in our  acquisition  pipeline  that can add to both
revenues and earnings in 1999."



          The notes offered have not been, and will not be registered  under the
Securities Act of 1933, or any state  securities laws, and may not be offered or
sold in the United States absent  registration  or an applicable  exemption from
registration requirements.

          Consolidated Delivery & Logistics,  Inc. headquartered in Clifton, New
Jersey is a full service, same day ground and air delivery and logistics company
with 70 offices in 24 states and the  District  of  Columbia.  The  Company  has
nearly  4,000  employees  and utilizes  over 1,000  independent  contractors  to
provide time sensitive delivery services to thousands of businesses.

          This  press  release  contains  certain   forward-looking   statements
regarding  future  events or the future  financial  performance  of the Company.
These  forward-looking  statements  include  comments  on the  Company's  future
business development. These forward-looking statements involve certain risks and
uncertainties  that may cause the actual events or results to differ  materially
from those  indicated by such  forward-looking  statements.  Potential risks and
uncertainties  include  without  limitation  the risk that the Company will lack
satisfactory  merger or  acquisition  candidates  and/or  have an  inability  to
conclude  acquisitions or mergers on satisfactory  terms or achieve cost savings
or additional profits contemplated by the Company's business management strategy
or other risks specified in the Company's SEC filings.