E.F. HUTTON &lt;EFH> UNIT'S PUROLATOR OFFER EXPIRES
  E.F. Hutton LBO Inc said the tender
  offer by its wholly owned unit, PC Acquisition Inc, for
  Purolator Courier Corp &lt;PCC> expired at 2400 EDT yesterday
  without the purchase of any Purolator common stock.
      Hutton added that PC Acquisition also terminated its merger
  agreement with Purolator.
      Hutton said the offer, which had been conditioned upon the
  tender of at least 5,116,892 Purolator shares, or about
  two-thirds of the outstanding shares, was terminated because
  the minimum number of shares was not tendered.
      Purolator had entered into a definitive agreement with PC
  Acquisition, part-owned by E.F. Hutton LBO Inc, a unit of E.F.
  Hutton, and some officers of Purolator's U.S. courier division,
  in which PC offered to purchase 6,332,471 Purolator common
  stock shares for 35 dlrs a share.
      Following that move, PC Acquisition planned to merge a
  subsidiary into Purolator, converting all outstanding Purolator
  common it did not own into an aggregate 46 mln dlrs principal
  amount of 12 pct guaranteed debentures due 2002 and warrants to
  purchase 15 pct of a Purolator unit comprised of Purolator's
  U.S courier operations.
      Hutton said as of 2400 EDT yesterday about 181,000 shares
  of Purolator common stock, or about 2.4 pct of the outstanding
  shares, had been validly tendered and not withdrawn.
      PC Acquisition has instructed its depository for the offer
  to return promptly the Purolator stock deposited by, or on
  behalf of, tendering shareholders, Hutton said.
  

