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AEI Sells 30% Interest In Equant N.V.

DARIEN, CT USA (February 26, 1999) -- AEI announced today that it has sold approximately 30 percent of its ownership in Equant N.V. (Equant), an international data network service provider, for a gain of $7.9 million before taxes. The after-tax gain is approximately $4.7 million, or $.14 per share, to be recorded in the Company's 1999 first quarter results.

The sale of Equant shares was pursuant to a secondary offering made by the SITA Foundation, which through its air transport members holds ownership interest in Equant.

Headquartered in Darien, CT, AEI is a world leader in integrated logistics services, delivering multi-modal transportation, warehousing and distribution, customs brokerage, consulting and information management solutions across a global network of 711 locations in 135 countries.

This press release contains forward-looking statements. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those anticipated; among these are the Company's dependence upon conditions in the air and ocean freight forwarding industry, the size and resources of many of the Company's competitors and the need for the Company to continue to effectively integrate acquired businesses and successfully deliver its primary services. Additional information with respect to these and other factors which could materially affect the Company is included in the Company's filings with the Securities and Exchange Commission, including its most recent proxy statement and 10-K.

For further information please contact:
Jay Jacobson
Investor Relations
Tel:(203)655-6978
exojxj@aeilogis.com