ABX Air to Acquire Cargo Holdings International

Business Wire, Nov 2, 2007

About ABX Air

ABX Air (www.abxair.com) is an air cargo services provider operating out of Wilmington, Ohio, and 15 hubs throughout the United States. In addition to providing airlift capacity and sort facility staffing to DHL, ABX Air is a Part 121 operator and holds a Part 145 FAA Repair certificate. It provides charter, maintenance and package handling services to a diverse group of customers. ABX Air is the largest employer in a several-county area in southwestern Ohio.

About Cargo Holdings International, Inc.

CHI (www.cargoholdings.com) is a leading provider of air cargo transportation and related services to domestic and foreign air carriers, and other companies that outsource their air cargo lift requirements to reliable, cost-effective independent operators. Through its four subsidiaries, Cargo Aircraft Management, Inc.; Capital Cargo International Airlines (CCIA); LGSTX Group, Inc., and Air Transport International LLC (ATI), CHI also provides aircraft leasing, airport ground services, fuel management, specialized transportation management, and air charter brokerage services. Its roster of more than 30 customers includes BAX/Schenker, the U.S. Government, DHL, the U.S. Postal Service, and UPS. CHI conducts its operations through four operating subsidiary companies, which include two companies with separate and distinct U.S. FAA Part 121 Air Carrier Certificates: Air Transport International Limited Liability Company and Capital Cargo International Airlines, Inc. There are approximately 600 total employees in the CHI companies.

Except for historical information contained herein, the matters discussed in this release contain forward-looking statements that involve risks and uncertainties. ABX Air Holdings, Inc. and its subsidiaries' actual results may differ materially from the results discussed in the forward-looking statements. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, the continuing availability of the contemplated financing associated with the acquisition of CHI, the ability to effectively integrate and obtain synergies from the combination of ABX and CHI,the satisfaction of the lenders that upon completion of the transaction, ABX remains in compliance with its material agreements, including its ACMI agreement with DHL; the failure to obtain all necessary regulatory approvals, including clearance of the transaction under the Hart-Scott-Rodino Act; obtaining necessary regulatory and third party approvals may delay the transaction or result in the imposition of conditions that could have a material adverse affect on the parties or cause the parties to abandon the transaction; and ABX and CHI may be unable to satisfy all conditions to closing of the acquisition and the contemplated acquisition financing. In addition, other general factors that could cause the Company's actual results to differ materially from the forward-looking statements included in this document include any negative impact on the business of ABX or CHI that may result from uncertainty surrounding the proposed transaction, significant reductions in the scope of services under the commercial agreements with DHL and other customers, the ability to generate revenues from new sources and other factors that are contained from time to time in ABX Air Inc.'s filings with the U.S. Securities and Exchange Commission, including ABX's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers should carefully review this release and should not place undue reliance on the Company's forward-looking statements. These forward-looking statements were based on information, plans and estimates as of the date of this release. ABX undertakes no obligation to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes.