ABX Air Stock Begins Trading on the OTC Bulletin Board

WILMINGTON, OHIO - August 15, 2003 - ABX Air (OTC/BB: ABXA) announced today that the company's stock will officially begin trading on the OTC Bulletin Board concurrent with the opening of the stock market Monday morning. ABX has been trading on a "when issued" basis under the ticker ABXAV since July 23, 2003.

Formerly the airline subsidiary of Airborne, Inc (NYSE: ABF), ABX Air has been separated into an independent company effective today. Shareholders of Airborne at the close of business August 15, 2003 will receive $21.25 per share in cash and one share of ABX Air for each Airborne share held. Airborne completed the sale of its ground operations to DHL earlier today.

Joseph C. Hete has been named President, Chief Executive Officer, and a member of the Board Of Directors of ABX Air. Hete, who joined ABX Air in 1980, has been its President and COO since January 2000 and has served on the board since its inception in 1988.

Today ABX also announced that Richard M. Rosenberg has been named Chairman of the Board. Formerly Chairman and CEO of BankAmerica Corp., Rosenberg was a Director at Airborne for 15 years and is currently on the Board of Pacific Life Company and Health Care Property Investors, Inc. In addition to Hete and Rosenberg, James H. Carey has been named to the Board. Carey was a Director at Airborne for 25 years, and is the former Managing Director of Briarcliff Financial Associates and CEO of National Capital Benefits Corporation. "ABX Air has considerable experience moving packages across the country on an extremely time-sensitive basis," Joe Hete said. "Our current agreements with Airborne allow us to work on a cost-plus basis, building a solid base for profitability. In addition, while we continue to meet Airborne's shipping needs, we will also aggressively pursue additional air cargo business."

As described in the merger transaction documents, DHL and ABX Air have entered into arms-length aircraft, crew, maintenance and insurance (ACMI) and hub services agreements. Under the ACMI agreement, ABX Air will provide service for Airborne's ground business, as well as third parties. Additional information on the ACMI agreement and ABX Air's operations and structure may be found in the proxy statement filed by Airborne, Inc. for its annual meeting of shareholders, which took place August 14, 2003.

ABX Air is a cargo airline that operates out of a privately owned airport in Wilmington, Ohio, and eleven hubs throughout the United States. In addition to providing airlift capacity to Airborne Express, the company, which has a fleet of 116 airplanes, provides charter services to a diverse group of customers. With over 7,500 employees, ABX is the largest employer in a several county area in southwestern Ohio.

For more information, contact ABX Air