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                   Air Express: Share Repurchase; Dividend



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

AIR EXPRESS INTERNATIONAL CORPORATION (AEI) ANNOUNCES QUARTERLY
CASH DIVIDEND AND AUTHORIZATION TO REPURCHASE AEI COMMON STOCK

Darien, CT, September 11, 1998 _. Air Express International Corporation
(NASDAQ-NMS: AEIC) announced that its Board of Directors, at its meeting
today, declared a quarterly cash dividend of six cents ($.06) per share.  The
dividend is payable on October 30, 1998 to shareholders of record on October
9, 1998.

Also at today's meeting, the Board authorized the purchase from time to time
in the open market of up to one million shares of the Company's common stock. 
The Company has acquired 992,000 shares of its common stock under the Board of
Directors repurchase authorization of November 14, 1997.

Currently, there are approximately 33,840,000 shares of AEI common stock
outstanding.  

AEI is a leading worldwide provider of freight transportation and related
logistics services.  The Company offers fully integrated international air and
ocean freight forwarding, customs brokerage, warehousing and distribution, and
information services through its global network of 711 locations in 135
countries.

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