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

(Fort Smith, Arkansas, January 29, 1998) -- Arkansas Best Corporation announced today that 1997 income from continuing operations improved $55.2 million from 1996. Income from continuing operations for the fourth quarter of 1997 was $4.9 million, or $0.19 per share (basic and diluted), versus a loss from continuing operations of $(9.0) million, or $(0.52) per share (basic and diluted), for the fourth quarter of 1996. For the full year of 1997, Arkansas Best reported income from continuing operations of $21.0 million, or $0.84 per share (diluted), $0.85 per share (basic), versus a loss from continuing operations of $(34.2) million, or a loss of $(1.98) per share (basic and diluted), for the twelve months of 1996.

"In 1997, we accomplished our primary goals of returning Arkansas Best to profitability and reducing the company's debt to a manageable level," said Robert A. Young, III, Arkansas Best President and Chief Executive Officer. "ABF, in particular, had an outstanding year with a 1997 operating ratio of 94.5 %, which is ABF's best annual operating ratio since 1986 and its second best since deregulation. Our other operating units made significant progress as well.

"While we continue to be optimistic about 1998, we are concerned that customers may, because of concerns about the negotiations between the International Brotherhood of Teamsters and Trucking Management, Inc., reduce the amount of freight they give ABF during the first quarter and adversely affect operating results. However, we continue to believe a new labor agreement will be reached before the March 31, 1998 expiration of the current contract."

ABF Freight System, Inc.

ABF's operating ratio of 95.2% for the fourth quarter represents a substantial improvement over the 99.4% operating ratio for the fourth quarter of 1996. LTL revenue per hundredweight increased to $17.62 for the fourth quarter of 1997, a 6.5% increase from the fourth quarter of 1996. The increase in revenue per hundredweight offsets a slight decrease in tonnage, allowing ABF's revenue per day to increase 5.1%. ABF's 1997 fourth quarter tonnage per day decreased 1.0%, consisting of a 0.8% decrease in LTL tonnage and a 2.0% truckload tonnage decrease compared to last year's fourth quarter. Throughout 1997 ABF experienced significant improvements in productivity versus 1996 productivity levels.

. . .

Arkansas Best Debt Reduction

Arkansas Best reduced long-term debt by $24 million during the fourth quarter of 1997 and $147 million for the year. The interest rate on bank debt has been reduced by 1.50% points since the beginning of the third quarter, to approximately 6.6%.

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.

ABF FREIGHT SYSTEM, INC.
FINANCIAL INFORMATION
FOR THE QUARTER ENDED DECEMBER 31, 1997

                                Fourth Quarter             Year Ended
                           1997     1996  % Change   1997      1996  % Change
    Operating Revenue(B) $286,721 $272,889  5.1%  $1,136,402  $1,102,661  3.1%
    Operating Income(B)   $13,767   $1,594  ---      $62,349     $(8,921) ---
    Operating Ratio          95.2%    99.4% ---         94.5%      100.8% ---
                                                       Fourth Quarter
                                                  1997       1996   % Change
    Revenue(B)
      LTL                                      $ 257,748  $ 243,789    5.7 %
      TL                                          28,973     29,100   (0.4)%
      Total                                    $ 286,721  $ 272,889    5.1 %
    Tonnage(B)
      LTL                                        731,456    737,102   (0.8)%
      TL                                         197,342    201,411   (2.0)%
      Total                                      928,798    938,513   (1.0)%
    Revenue/CWT
      LTL                                        $ 17.62    $ 16.54    6.5 %
      TL                                            7.34       7.22    1.6 %
    Revenue/Shipment   Total                    $ 195.67   $ 186.24    5.1 %
    Cost/Shipment  Total                        $ 186.27   $ 185.15    0.6 %
    (B) Note:  Values rounded to thousands ($000)
        Note:  Sixty-two workdays in fourth quarter 1997 and fourth quarter
        1996