(Excerpts from the
Arkansas Best Corporation Third Quarter 1997 Release)

(Fort Smith, Arkansas, October 17, 1997) -Arkansas Best Corporation continued its 1997 pattern of sharply improved results by reporting income from continuing operations of $9.3 million, or $0.41 per share ($0.39 fully diluted) for the third quarter of 1997 versus a loss from continuing operations of $(7.7) million, or $(0.45) per share for the third quarter of 1996. Third quarter 1997 income from continuing operations included an after tax gain of $2.5 million for the sale of Cardinal Freight Carriers, Inc. and after tax losses on sales and write downs of real estate held for sale of $(1.7) million, which in total increased earnings per share by $0.04. Excluding the above items, income from continuing operations was $8.5 million, or $0.37 per share.

Arkansas Best had operating income from continuing operations of $21.6 for the third quarter of 1997 compared to an operating loss from continuing operations of $(2.2) million in the third quarter of 1996. ABF Freight System, Inc., Arkansas Best's largest subsidiary, had an operating ratio of 93.2% for the third quarter of 1997, ABF's best quarterly operating ratio since the third quarter of 1988.

Year-to-date, Arkansas Best reported income from continuing operations of $16.1 million, or $0.65 per share for 1997, versus a loss from continuing operations of $(25.1) million, or a loss of $(1.45) per share, for the first nine months of 1996.

ABF Freight System, Inc.

"Third quarter results reflect strong profitability for ABF", said Robert A. Young, III, Arkansas Best President and Chief Executive Officer. "ABF's operating ratio of 93.2% for the third quarter represents a substantial improvement over the 99.7% operating ratio for the third quarter of 1996. ABF had operating income of $48.6 million for the first nine months this year which is 12.6% higher than any twelve month period in ABF's history.

"A continuing favorable pricing environment and ABF's emphasis on account profitability resulted in an increase in LTL revenue per hundredweight to $17.51 for the third quarter of 1997, a 7.7% increase from the third quarter of 1996. The increase in revenue per hundredweight offset a slight decrease in tonnage allowing ABF's revenue per day to increase 6.3%. ABF's 1997 third quarter tonnage per day decreased 1.5%, consisting of a 0.6% decrease in LTL tonnage and a 5.2% truckload tonnage decrease compared to last year's third quarter. The UPS work stoppage accounted for an estimated 2% of ABF's increase in revenue in the third quarter and made some contribution to profit. ABF's ongoing effort to improve efficiencies resulted in a reduction in cost per shipment of 5.6% compared to third quarter of 1996."

. . .

Arkansas Best Debt Reduction

Arkansas Best reduced long-term debt by $60 million during the third quarter of 1997, including $35 million in net proceeds from the sale of Cardinal. The interest rate on bank debt has been reduced by 1.25% points since the beginning of the third quarter.

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.

ARKANSAS BEST CORPORATION SELECTED OPERATING AND FINANCIAL INFORMATION (Unaudited) Three Months Ended September 30 Six Months Ended September 30 1997 1996 % Change 1997 1996 % Change ($ thousands, except per share data) Operating Revenue $298,105 $280,478 6.3% $849,681 $829,772 2.4% Operating Income $20,225 $961 $48,582 $(10,417) Operating Ratio 93.2% 99.7% 94.3% 101.3%

For The Quarter Ended September 30 1997 1996 % Change ($ thousands) Revenue LTL $269,902 $251,940 7.1% TL 28,203 28,538 (1.2)% Total 298,105 280,478 6.3% Tonnage LTL 770,537 774,861 (0.6)% TL 192,900 203,416 (5.2)% Total 963,437 978,277 (1.5)% Revenue/CWT LTL $17.51 $16.26 7.7% TL 7.29 7.00 4.3% Revenue/Shipment Total $181.91 $180.30 0.9% Cost/Shipment Total $169.60 $179.73 (5.6)%

1) Note: Sixty-four workdays in third quarter 1997 and third quarter 1996

END OF RELEASE