  We analyze a Hanbury Brown Twiss geometry in which particles are injected
from two independent sources into a mesoscopic electrical conductor. The set-up
has the property that all partial waves end in different reservoirs without
generating any single particle interference. There is no single particle
Aharonov-Bohm effect. However, exchange effects lead to two-particle
Aharonov-Bohm oscillations in current correlations. We demonstrate that the
two-particle Aharonov-Bohm effect is connected to orbital entanglement which
can be used for violation of a Bell Inequality.
