Corporate Express Press Releases - 1998

Corporate Express (ticker: CEXP, exchange: NASDAQ) News Release - Monday, May 11, 1998 Corporate Express Supplements Offer to Purchase and Consent Solicitation

BROOMFIELD, COLORADO (May 11, 1998) - Corporate Express, Inc. (Nasdaq: CEXP), announced today that CEX Holdings, Inc., its wholly owned subsidiary, has modified the consideration in its offer to purchase and consent solicitation relating to its outstanding 9 1/8% Senior Subordinated Notes Series B due 2004, which was commenced on April 29, 1998. The total consideration payable (excluding accrued interest), will be calculated to result in a yield from the date of purchase of the Notes to March 15, 1999 (the initial redemption date under the indenture governing the Notes) of 50 basis points above the yield on the Reference Security (as defined in the Offer to Purchase and Consent Solicitation Statement dated April 29, 1998). In order to receive the total consideration (including the consent payment), holders must tender and consent prior to 5:00 p.m., New York City time, on May 13, 1998, unless such deadline is extended. The Company's obligations are subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated April 29, 1998, which should be referred to for a full discussion of the terms of the offer and solicitation. Security holders may obtain information relating to the offer to purchase and consent solicitation by contacting Donaldson, Lufkin & Jenrette Securities Corporation at (310) 282-5005, (310) 282-5087 or (310) 282-5589. Donaldson, Lufkin & Jenrette Securities Corporation is acting as dealer manager for the offer and financial advisor for the solicitation and U.S. Bank Trust National Association is acting as the depositary. The Company currently operates in more than 700 worldwide locations, including more than 90 distribution centers, utilizes a fleet of over 10,000 delivery vehicles, and employs approximately 27,000 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