Tranche Update on Expeditors International of Washington, Inc.'s Equity Buyback Plan announced on November 13, 2001.

Expeditors International of Washington, Inc. specializes in the transport of merchandise. Net sales break down by activity as follows: - air transport services (34.9%); - maritime transport services (25.4%). The group also offers management services for documents, insurance, coordination, etc.; - other (39.7%): customs clearance, computer monitoring, storage, inventory, equipment assembly, etc. Net sales are distributed geographically as follows: the United States (35.6%), North America (4.7%), Asia (32.7%), Europe (19.5%), Middle East/Africa/India (5.4%) and Latin America (2.1%).