Today, Corporate Express is well positioned to take advantage of these positive industry dynamics. We offer the broadest product selection of any company in our industry. We deliver leading technologies that help our customers effectively manage their procurement processes. We have a powerful distribution network and a strong global presence, with the largest trained professional sales force in the industry. We serve a customer base of large - and medium-sized companies and organizations that depends on our products and services, and values our worldwide reputation for service excellence. We have a core domestic distribution business that generates strong cash flow, revenues and operating profits. Moreover, we have the right strategy to fulfill our growth objectives, and a world-class management team to help us execute our plan.

As I take the helm of our Company, I am proud of the many things that make Corporate Express the outstanding organization that it is. But I also have a vision of everything that Corporate Express can be: A superb operating company with a strong balance sheet; a company that delivers excellent, predictableand sustainable financial results; a company with the finest technologies available in our industry; a company that is the premier choice among our valued customers; and a company committed to environmental preservation.

As we enter the new millennium, I have one overriding goal for Corporate Express: To realize this vision. There are future challenges, to be sure - but they are challenges that we will meet head on as we strive to capitalize on the tremendous opportunity in our industry. We face the future with confidence and, above all, with a firm commitment to make Corporate Express a company of which our shareholders, our customers, our suppliers and our employees can be very proud.

Robert L. King
President and Chief Executive Officer
May 1, 1999