ARC ANNOUNCES FIRST YEAR-ON-YEAR RISE IN DOMESTIC AIR FARES IN 2003
        WEEKLY SALES PER LOCATION TOP RECORD HIGH FOR SECOND MONTH

Arlington, VA, July 17, 2003 - ARC's June 2003 operating statistics, released today, reflect the first month since November, 2002, in which domestic air fares settled by ARC have increased in comparison to the previous year.  Additionally, June was the second month in a row in which a new record high was set for the weekly sales average per agency location.

"This is the first year-on-year increase in seven months in domestic air fares settled by ARC," said David Collins, ARC president and chief executive officer.  "I welcome this turnaround in the trend we saw for domestic fares in the first half of 2003 as compared to that period last year."

Collins continued, "For the second month running, we saw a new high in the average weekly sales per ARC-accredited agency location.  That new high is the continuation of an ongoing trend in which we have seen increases in ten of the last 12 months in the average weekly sales per agency location as compared to the previous year.  The tendency towards more sales per location is an indication of the valuable role each ARC-accredited agency plays in the market."

Archived copies of ARC's monthly statistics are available at http://www.arccorp.com/news/news_sales_doc_stats.html.