E.F.HUTTON &lt;EFH> EXTENDS PUROLATOR &lt;PCC> OFFER

  E.F. Hutton Group's E.F. Hutton LBO Inc
  unit said it extended the expiration date for its 35 dlr per
  share tender offer for Purolator Courier corp to midnight EST
  April six from midnight April one.
      E.F. Hutton lbo inc said its wholly owned PC Acquisition
  Inc subsidiary, which is the entity making the offer, extended
  both expiration date and the withdrawal rights period for its
  pending tender for 6.3 mln shares or 83 pct of Purolator
  common.
      Hutton's offer was topped today by a 40 dlr per share bid
  for 83 pct of the stock from Emery Air Frieght Corp &lt;EAF.>
      Both offers would pay shareholders a package of securities
  for the balance of their shares, valued at the respective
  tender offer prices.
      Hutton said as of the end of the day yesterday, about
  880,000 shares of Purolator common stock repesenting 11.5 pct
  of outstanding shares had been validly tendered and not
  withdrawn.
      Manhattan supreme court justice Lewis Grossman today
  adjourned until Monday a hearing on a stockholder suit seeking
  to block the Hutton LBO transaction. The judge told attorneys
  he needed time to hear other cases.
      Plaintiffs cited their belief that a superior offer would
  be forthcoming, however one company mentioned in an affadavit,
  Interlink Express plc, denied that it was interested.
      Yesterday, Frank Hoenemeyer, a retired vice chairman of
  Prudential Insurance Co and currently a Purolator board member,
  said an initial offer from Hutton was rejected by the board of
  directors February third.
      Hoenemeyer testified that by the next meeting of the board,
  February 17, Hutton submitted a revised proposal which was
  accepted.
      He also testified a committee of directors had hired
  Goldman Sachs and Co to consider alternatives to the Hutton
  offer and also to consider a discussion of possible mergers
  with other companies including Emery and Federal Express Corp
  &lt;FDX>.
  

