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ABXA 7.90 ASTAR Extends Deadline For ABX Response To July 27
Company Stands by "Full and Fair" Offer; Cites Unattractive Prospects for ABX Without ASTAR Transaction
Jul 18, 2007 10:03:00 AM
Copyright Business Wire 2007

MIAMI--(BUSINESS WIRE)--

John Dasburg, the Chairman, President and Chief Executive Officer of ASTAR Air Cargo Holdings, LLC sent the following letter to the board of directors of ABX Air, Inc. (NASDAQ: ABXA) in response to a letter received yesterday from Joseph C. Hete, President and Chief Executive Officer of ABX Air:

July 18, 2007

ABX Air, Inc. Board of Directors
c/o W. Joseph Payne, Secretary
145 Hunter Drive
Wilmington, Ohio 45177

Gentlemen:

On July 17, 2007, I received a letter from ABX Air noting that the ABX
Air board of directors will meet on July 20, 2007 with its legal and
financial advisors and that ABX Air expects to have a response to
ASTAR's indication of interest by next week. ASTAR has therefore
decided to extend the deadline for receipt of a meaningful response
to my June 26 letter until 4:30 p.m. (Wilmington, Ohio time) on
Friday, July 27, 2007. Given the premium price (relative to pre-
announcement market prices) we identified in my letter, and, in
ASTAR's judgment, the unattractive future prospects for ABX in the
absence of a transaction with ASTAR, we believe the price of $7.75 is
a full and fair price and generous to the shareholders of ABX Air.


Very truly yours,



John Dasburg

About ASTAR Air Cargo Holdings, LLC.

ASTAR Air Cargo, Inc. is the operating subsidiary of ASTAR Air Cargo Holdings, LLC. ASTAR Air Cargo is a licensed U.S. air carrier operating a fleet of 45 aircraft from its operational hub in Wilmington, Ohio. The airline provides all-cargo scheduled and charter services on a contract basis for the DHL Worldwide Express network and charter services on a contract basis for other customers including the U.S. military and the United States Postal Service. ASTAR Air Cargo is a participant in the United States Civil Reserve Air Fleet program supporting our national defense. Additional information can be found at www.astaraircargo.us.

Source: ASTAR Air Cargo Holdings, LLC

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ASTAR Air Cargo Holdings
LLC
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Richard Marcus
202-295-8770