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                      Air Express: Dividend News Release 



October 20, 1998



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



AIR EXPRESS INTERNATIONAL CORPORATION (AEI)
ANNOUNCES QUARTERLY CASH DIVIDEND


Darien, CT, October 20, 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 January 29, 1999 to shareholders of record on January 8,
1999.

AEI is a leading worldwide provider of freight transportation and related
logistic 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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