(Fort Smith, Arkansas, April 23, 1997) -- Arkansas Best Corporation reported a significant improvement in results for the first quarter of 1997 versus the first quarter of 1996. Arkansas Best had a net loss of $317,000, or $.07 per common share, for the 1997 first quarter compared to a net loss of $9.5 million, or $.54 per common share, for the first quarter of 1996. Arkansas Best had an operating profit of $5.3 million for the first quarter of 1997 compared to an operating loss of $7.8 million in the first quarter of 1996.

"ABF Freight System has returned to historical levels of profitability with an operating ratio of 95.7% for the first quarter. This represents the fourth best operating ratio of any first quarter in the past 20 years and compares to a 102.2% operating ratio for the first quarter of 1996," said Robert A. Young, III, President and Chief Executive Officer. "Cost reduction efforts initiated in 1996 to lower ABF's break-even point had a positive impact on the first quarter and I am pleased to see these efforts rewarded with one of the best first quarters in ABF's history."

ABF accounts for approximately 91% of the LTL segment revenues. ABF's emphasis on account profitability resulted in lower tonnage numbers for the first quarter. ABF's 1997 first quarter tonnage per day decreased 7.2%, consisting of a 5.7% decrease in LTL tonnage and a 12.9% truckload tonnage decrease compared to last year's first quarter.

"G.I. Trucking reached a milestone in March, producing a slight operating profit for the first time since its revenue was cut in half following the merger of ABF and Carolina Freight Carriers in September 1995," said Young. "G.I. continues to show improvement with an operating ratio of 101.3% for the quarter compared to 115.5% for the first quarter last year. G.I.'s revenues increased 37% year over year during the first quarter. In addition to replacing revenues, G.I. has made and continues to make significant reductions in its breakeven point.

"At Clipper WorldWide, our intermodal operation, the revenue yield decline on domestic business which began in 1996 improved slightly in the first quarter. However, the yield improvement and the reductions in operating costs were not sufficient to return Clipper to profitability," said Young. "The focus on international lane profitability and cost reductions at CaroTrans resulted in improvement for the first quarter versus the last half of 1996." CaroTrans, the international component of Clipper WorldWide, was at breakeven for the month of March.

"Cardinal Freight Carriers, our truckload subsidiary, was profitable in the first quarter, but not at desired levels due to higher fuel, insurance and maintenance costs," continued Young. "Fuel costs declined in March and are expected to be nearer historical levels for the near future. The higher maintenance costs, resulting from older equipment, should decline as Cardinal takes delivery of new replacement tractors in the second quarter.

"Treadco's first quarter results continued to be impacted by slower-than-expected retread sales and continued pricing pressure," said Young. "Faced with lower retread sales, Treadco is emphasizing cost reduction to lower its break-even point, while replacing its national account business lost in 1996."

"We are refocusing on the lack of profitability at the logistics subsidiaries and we will take steps to correct the situation," said Young.

Service and other segment profit for the first quarter of 1996 includes gains on asset sales of $2.1 million.

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 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.
(3) Intermodal operations were formerly referred to as Forwarding operations.
The following are the principal subsidiaries that comprise each operating segment:
LTL operations:	ABF Freight System, Inc. and G.I. Trucking Company
Intermodal operations:	Clipper Exxpress Company and CaroTrans International, Inc.
Truckload operations:	Cardinal Freight Carriers, Inc.
Logistics operations:	Integrated Distribution, Inc. and The Complete Logistics Company
Tire operations:	Treadco, Inc. approximately 46%-owned consolidated subsidiary
Other:	Transport Realty, Inc. and Carolina Breakdown Service, Inc.

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