Exhibit 7.03
                                                                    ------------


            JIM CRANE, CENTERBRIDGE PARTNERS, L.P. AND THE WOODBRIDGE
                        COMPANY LIMITED PROPOSE TO TAKE
                       EGL, INC. PRIVATE AT $36 PER SHARE


         HOUSTON, February 28, 2007 - Jim Crane, the Chairman and CEO of EGL,
Inc. ("NasdaqGS: EAGL"), today announced that he, together with investment firms
Centerbridge Partners, L.P. and The Woodbridge Company Limited, as well as
members of senior management, has submitted a proposal to acquire all of the
outstanding common stock of EGL, Inc. at a price of $36 per share in cash. This
proposal provides shareholders the same consideration offered in Crane's
proposal to acquire the Company made on January 2, 2007, which constituted a 21%
premium over the closing price of EGL stock on Friday, December 29, 2006, of
$29.78.

         Crane, who would continue as Chairman and CEO following the
transaction, together with other members of senior management, would participate
in the proposed transaction by making a significant equity investment. Crane
currently owns approximately 18% of the outstanding common stock of EGL. Merrill
Lynch, Pierce, Fenner & Smith Incorporated and The Woodbridge Company Limited
intend to provide the $1.175 billion of debt financing necessary to complete the
transaction. Merrill Lynch also is serving as financial advisor in connection
with the offer.

         "I am pleased to have reached a deal with Centerbridge, Woodbridge and
other members of senior management to renew my previous offer at the same price
per share and to provide an opportunity for all of EGL's shareholders to realize
a significant premium," Crane said. "Our proposal would keep our valued key
senior management team and employee base intact and enable us to seamlessly
continue to provide our customers with the high level of service they have come
to expect from EGL."

         Founded in 1984, Houston-based EGL, Inc. operates under the name EGL
Eagle Global Logistics. EGL is a leading global transportation, supply chain
management and information services company, dedicated to providing superior
flexibility and fewer shipping restrictions on a price competitive basis. With
2006 revenues of $3.2 billion, EGL's services include air and ocean freight
forwarding, customs brokerage, local pickup and delivery service, materials
management, warehousing, trade facilitation and procurement, and integrated
logistics and supply chain management services. The company's shares are traded
on the NASDAQ Global Select Market under the symbol "EAGL."

         Centerbridge is a $3.2 billion private investment firm focused on
making private equity investments in companies with leading management teams and
well positioned businesses. The limited partners of Centerbridge include a
variety of institutional investors, including many of the world's most prominent
university endowments, pension funds and charitable trusts. Centerbridge has a
broad mandate to opportunistically invest in and foster the growth of companies
in a variety of industries in which its investment professionals have extensive
experience, including transportation and logistics.





         The Woodbridge Company Limited is the primary investment vehicle for
the Thomson family. It has a controlling interest in The Thomson Corporation, a
world leader in providing integrated information solutions. Based in Toronto,
Canada, Woodbridge also has interests in information technology, media, real
estate, publishing and a portfolio of private equity investments.

         This news release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Although it is believed that the expectations
are based on reasonable assumptions, there can be no assurance that such
assumptions will materialize. Important factors that could cause actual results
to differ materially from those in the forward-looking statements herein are
enumerated in EGL's Annual Report on Form 10-K and other filings with the
Securities and Exchange Commission.





















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