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                      Air Express: Dividend News Release 


For more information, please contact:
Jay Jacobson, Financial Relations (203) 655-6978



                 AIR EXPRESS INTERNATIONAL (AEI) ANNOUNCES
                AN INCREASE IN THE QUARTERLY CASH DIVIDEND


        DARIEN, CT, June 17, 1999 -- The Board of Directors of Air Express
International Corporation (AEI) (Nasdaq-NMS:AEIC) today declared a quarterly
cash dividend for the Company of seven cents ($.07) per share.  This represents
an increase in the quarterly dividend rate of one cent ($.01) per share, or
16.7 percent, versus the previous quarterly dividend amount.  The new dividend
is payable on July 30, 1999 to shareholders of record on July 9, 1999.  This is
the eighth consecutive year that the dividend has increased since the Company
reinstated dividend payments in 1991.
        Headquartered in Darien, CT, AEI is a world leader in integrated
logistics services, delivering multi-modal transportation, warehousing and
distribution, customs brokerage and information management solutions across a
network of 705 locations in more than 135 countries.

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