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Danzas expands operations in Panama [Spanish version]

Basel, Switzerland (September 19, 2001) -- Corporación Cormar S.A., the Costa Rican partner of the Danzas Group for Central America, in which Danzas holds a 34 percent equity stake, has merged its logistics activities in Panama with Logistics Services (Panama) S.A.

The resulting joint venture, Cormar Logistics Panama S.A., with a staff of about 50 people, will now be able to offer to the customers enhanced warehousing and distribution in the Free Trade Zone of Colon, Panama, with more than 700,000 square feet of warehouse space dedicated primarily to the pharmaceutical, chemical, and electronics industries.

In addition, the joint venture will be able to upgrade and complement their freight forwarding and transportation services and will be capable of offering the most comprehensive logistics solutions to meet customer needs.

Corporación Cormar S.A. serves the markets of Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama with integrated logistics services that include air and ocean freight forwarding, international trucking, customs brokerage, bonded and general warehousing, inventory management, and distribution.

Logistics. Worldwide. With a strong presence on every continent, the Danzas Group is the world's leading provider of logistics solutions. Its 43,000 employees worldwide generate net sales of EUR 8.3 billion (USD 7.8 billion, CHF 12.9 billion) in 2000. Danzas is based in Basel, Switzerland, and belongs to the Deutsche Post World Net.

For further information please contact:
Patrick Kaiser
Head of Corporate Communications
TL: +41/61/274 74 74
Fax: +41/61/274 71 99
E-mail: patrick.kaiser@danzas.com, sara.buerkli@danzas.com

Candace Bouchard
Manager Corporate Communications
TL: +203 655 5692
Fax: +203 655 5895
E-mail: exocb@aeilogis.com