Corporate Express Press Releases - 1998

Corporate Express (ticker: CEXP, exchange: NASDAQ) News Release - Wednesday, April 29, 1998 Corporate Express, Inc. Announces Tender Offer for 9 1/8% Senior Subordinated Notes

BROOMFIELD, COLORADO (April 29, 1998) - Corporate Express, Inc. (Nasdaq: CEXP) a leading supplier of non-production goods and services to large corporations, announced today a tender offer by its wholly owned subsidiary, CEX Holdings, Inc. (?CEX Holdings?), for all of CEX Holdings? outstanding 9 1/8% Senior Subordinated Notes due 2004. CEX Holdings is also soliciting consents to certain indenture amendments. The total outstanding principal amount of the 9 1/8% Senior Subordinated Notes (excluding $10 million previously purchased by CEX Holdings) is $90 million. The tender offer payments and consent payments, assuming 100% participation in the tender offer, will total approximately $94.8 million. The tender offer will expire at 5:00 p.m., New York City time, on May 28, 1998, but holders must tender by 5:00 p.m., New York City time, on May 13, 1998 in order to receive both the tender offer payment and the consent payment ($25 per $1,000 principal amount of notes). The tender offer is contingent upon tenders of a majority of the $90 million outstanding notes, the successful completion of replacement financing and certain other customary conditions. Donaldson, Lufkin & Jenrette Securities Corporation is acting as dealer manager and financial advisor for the offer, and financial advisor for the solicitation and U.S. Bank Trust National Association is acting as depository. The Company currently operates in over 500 locations, including 80 distribution centers, utilizes a fleet of over 10,000 delivery vehicles, and employs approximately 28,000 people in the United States, Canada, the United Kingdom, Ireland, Germany, Switzerland, France, Italy, Australia and New Zealand. Contact: Rick Roth, VP Corporate Communications (303) 664-3970