(Fort Smith, Arkansas, April 21, 1998) -- Arkansas Best Corporation today reported improved results for the first quarter of 1998 versus the first quarter of 1997. For the first quarter of 1998, net income was $3.6 million, or $0.13 per common share (basic and diluted), versus income from continuing operations of $580,000 for the first quarter of 1997 which, after dividends to preferred shareholders, produced a net loss per common share (basic and diluted) of $(0.03).

"We are pleased with the improved performance and profitability of the first quarter," said Robert A. Young III, President and Chief Executive Officer. "ABF's results were excellent and we are also encouraged by improvements made by some of our other operating subsidiaries. The tentative labor agreement reached in early February and approved in early April between Trucking Management, Inc. and the International Brotherhood of Teamsters was the single most important accomplishment of the 1998 first quarter. ABF customer concerns about a work stoppage were eliminated by the five-year agreement reached a full seven weeks ahead of contract expiration."

ABF Freight System, Inc.

"ABF continued its strong operating performance with a first quarter operating ratio of 95.8% compared to a 95.7% operating ratio for the first quarter of 1997," said Mr. Young. "In addition to the labor agreement, favorable fuel prices, the mild winter and slight tonnage increases in March all contributed to ABF's solid performance."

ABF's LTL revenue per hundredweight increased to $18.22 for the first quarter of 1998, a 4.5% increase from the first quarter of 1997. Though total tonnage decreased slightly for the entire quarter, ABF's revenue per day improved by 2.3% compared to the first quarter of 1997. ABF's first quarter of 1998 tonnage per day decreased 1.8%, consisting of a 1.7% decrease in LTL tonnage and a 2.1% truckload tonnage decrease, compared to last year's first quarter. Productivity for shipment pickup, dock handling and shipment delivery continued at 1997's high levels.

"Based on our observations, information provided by customers and actual tonnage levels, there was some diversion of freight in January and February due to customer concerns about the labor contract," Mr. Young said. "The tonnage increase in March, although small, is a positive development and we are hopeful that the trend will continue."

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.
COMBINED FINANCIAL INFORMATION
FOR THE QUARTER ENDED MARCH 31, 1998
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                                            First Quarter
                             1998            1997        % Change
                             -------------------------------------
Operating Revenue**          $280,267      $274,040        2.3%

Operating Income**           $ 11,761      $ 11,825

Operating Ratio                 95.8%         95.7%  


                             1998            1997        % Change
                             -------------------------------------

Revenue**         LTL        $ 254,205     $ 247,452       2.7 %
                  TL            26,062        26,588      (2.0)%
                  Total      $ 280,267     $ 274,040       2.3 %

Tonnage**         LTL          697,738       709,595      (1.7)%
                  TL           176,802       180,530      (2.1)%
                  Total        874,540       890,125      (1.8)%

Revenue / CWT     LTL        $   18.22     $   17.44       4.5 %
                  TL              7.37          7.36       0.1 %
                  Total          16.02         15.39       4.1 %

Revenue /
  Shipment        Total      $  200.72     $  192.18       4.4 %

Cost /
  Shipment        Total      $  192.30     $  183.89       4.6 % 

 
**Note:  Values rounded to thousands ($000)

  Note:  Sixty-three workdays in first quarter 1998 and first quarter 1997

Includes U.S., Canadian and Puerto Rican operations of ABF affiliates.