Pak Mail Centers of America, Inc. to be Acquired by Pak Mail Acquisition Corp.

Pak Mail Centers of America, Inc. ("Pak Mail") and Pak Mail Acquisition Corp. ("PMAC") announced today that the two companies have signed a definitive agreement for PMAC to acquire Pak Mail. The acquisition, approved by the boards of directors of both companies, is to be accomplished through a merger whereby the shareholders of Pak Mail other than PMAC would receive $0.0516 for each share of common stock. Shareholders of PMAC currently own or control approximately 79.4% o Pak Mail's common stock.

The merger will qualify as a going-private transaction under federal securities law and is expected to be consummated in late December 2002 or January 2003.

"This transaction represents an important step in the evolution of Pak Mail. By becoming a private company, Pak Mail will significantly reduce its administrative costs and eliminate filing requirements associated with being a public company. This will allow us to concentrate on our core business strategy," said P. Evan Lasky, President and CEO of Pak Mail. "We expect the transaction to result in a continuation of superior service and support for our network of excellent Franchises throughout the country and internationally."

Following the completion of the merger, two significant shareholders of Pak Mail, Pak Mail Investment Partnership L.P. and D.P. Kelly & Associates, L.P. will share ownership of Pak Mail. Duff & Phelps, LLC acted as financial advisor to Pak Mail in connection with the merger.

Pak Mail is an internationally recognized marketer of Pak Mail premier specialty packaging, shipping and business support franchises.