BAX GLOBAL RECORDS FIRST-QUARTER TURNAROUND

   Pittston BAX Group, which operates as BAX Global, reported a
net income of $400,000 for  the first quarter of 1999, after posting a $3
million loss for the year-earlier quarter.
   The net income included a larger than usual annual pre-tax adjustment of
$1.6 million.
   Operating profit for the quarter was $2.66 million, compared with a
$3.65-million loss for the 1998 period.
   Global revenue increased 14 percent to $460.25 million due largely to
strong growth in Pacific operations and the acquisition of Air Transport
International LLC in the second quarter of 1998.
   Operating profit in the Pacific rose 55.6 percent to $5.27 million,
while operating revenue jumped 87.8 percent to $110.25 million. In the
Americas, operating profit rose 27.4 percent to $11.2 million while revenue
rose 1.7 percent to $278.25 million. Atlantic operating profit was up 34.3
percent to $1.52 million, while revenue rose 11.2 percent to $85.41 million.
   BAX Global handled 414.3 million pounds of freight for the quarter, up
8.6 percent from the year earlier period.