(Fort Smith, Arkansas, October 24, 1996) -- Arkansas Best Corporation ("Arkansas Best") had third quarter 1996 consolidated revenues of $429 million, up 7.5% versus the third quarter 1995. Arkansas Best had a third quarter 1996 net loss of $8.5 million, or $.49 loss per common share.

Revenues from the less-than-truckload ("LTL") segment for the third quarter 1996 were $306 million. The LTL segment had a third quarter 1996 operating loss of $2.0 million. ABF Freight System, Inc. ("ABF") accounts for approximately 92% of the LTL segment revenues. ABF's operating ratio as reported to the Department of Transportation for the third quarter 1996 was 99.7% compared to 98.1% for the third quarter 1995. ABF's third quarter 1996 tonnage increased 10%, consisting of a 12.3% increase in LTL tonnage and a 2.3% truckload tonnage increase compared to 1995.

"ABF's operating ratio continued to improve from 102.2% in the first quarter to 101.9% in the second quarter and 99.7% in the third quarter of this year," said Robert A. Young, III, President - Chief Executive Officer of Arkansas Best. "The restructuring of ABF's terminal network has been completed and right-sizing of the equipment fleet and disposal of excess real estate continues."

"We are disappointed with the speed of our return to the operating ratios we are accustomed to, but steady progress has been made through the first three quarters and we will continue to exert every effort to improve operating margins at ABF," said Young.

"G.I. Trucking, our western regional carrier, continued to rebuild its revenue base in the third quarter and third quarter revenues were approximately 11% ahead of the second quarter. G.I. continued to lose money in the third quarter and will likely continue in the red for at least another quarter as it rebuilds revenue lost when Carolina Freight Carriers and ABF were combined last year. G.I.'s operating ratio was 107.3% for the third quarter.

"Our forwarding results were mixed and disappointing on balance. Clipper Exxpress' results for the quarter continued at good levels, but CaroTrans International had a bad quarter resulting in poor results for the segment.

"We continue to be pleased with our truckload operations. Cardinal had operating profits of $1 million during the quarter.

"Treadco completed its conversion from one equipment and raw material supplier to another during the third quarter and returned to profitability. Both of these events were milestones and sets the stage for further growth in sales and profitability," said Young.

Tire operations segment revenues were $39.5 million for the third quarter, 1996, a 1.4% decrease from the third quarter of 1995. During the quarter, tire operations had an operating profit of $228,000 which included a $1.1 million gain on the sale of assets related to the conversion to the Oliver Rubber Company retread process.

The foregoing release contains forward-looking statements that are based on current expectations and are subject to a number of risks and uncertainties. Actual results could differ materially from current expectations due to a number of factors, including general economic conditions; competitive initiatives and pricing pressures; union relations; availability and cost of capital; shifts in market demand; weather conditions; the performance and needs of industries served by Arkansas Best's businesses; actual future costs of operating expenses such as fuel and related taxes; self-insurance claims and employee wages and benefits; actual costs of continuing investments in technology; and the timing and amount of capital expenditures.

The Board of Directors of Arkansas Best Corporation has declared to be paid for the fourth quarter of 1996, to holders of record of its $2.875 Series A Cumulative Convertible Exchangeable Preferred Stock (NASDAQ/NMS: "ABFSP") on November 5, 1996, a cash dividend of $.71875 per share payable November 15, 1996.

Also, the Board of Directors decided not to reinstate the dividend on the Company's common stock, $0.01 par. Prior to suspension during the second quarter of 1996, the Company had paid a $0.01 per share dividend on the common stock.

The following table compares financial data by business segment:

(1) Gives consideration to preferred stock dividends of $1.1 million per quarter.
(2) Does not assume conversion of preferred stock to common stock because conversion would be anti-dilutive for these periods.
The following are the principal subsidiaries that comprise each operating segment:
LTL operations:	ABF Freight System, Inc. and G.I. Trucking Company (effective 8/12/95)
Forwarding operations:	Clipper Exxpress Company and CaroTrans International, Inc. (effective 8/12/95)
Truckload operations:	Cardinal Freight Carriers, Inc. (effective 8/12/95)
Logistics operations:	Integrated Distribution, Inc., Innovative Logistics Incorporated (effective 8/12/95) and The Complete Logistics Company (effective 8/12/95)
Tire operations:	Treadco, Inc. approximately 46%-owned consolidated subsidiary
Other:	Transport Realty, Inc. and Carolina Breakdown Service, Inc. (effective 8/12/95)

END OF RELEASE

Contact: Mr. Randall M. Loyd, Director - Financial Reporting
Telephone: (501) 785-6200