(Fort Smith, Arkansas, October 19, 1999) -- Arkansas Best Corporation (Nasdaq: ABFS) today announced net income from continuing operations of $16.1 million, or $0.67 per diluted common share, for the third quarter of 1999. This compares to net income from continuing operations of $9.0 million, or $0.38 per diluted common share, for the third quarter of 1998. Net income for common shareholders for the third quarter was $15.0 million, a 114% increase, versus $7.0 million for the third quarter of 1998.

For the first nine months of 1999, Arkansas Best earned $34.7 million, or $1.46 per diluted common share from continuing operations, an increase of 69% over net income from continuing operations for the first nine months of 1998 of $20.5 million, or $0.87 per diluted common share.

"For the second time this year, Arkansas Best has exceeded the highest net income of any quarter in its history," said Robert A. Young, III, President and Chief Executive Officer. "This quarter's net income from continuing operations represents an increase of 45% over the previous high recorded in this year's second quarter," said Mr. Young.

"ABF Freight System also had another outstanding quarter," said Mr. Young. " ABF's third quarter operating ratio equals the best for any quarter since 1977..."

ABF Freight System, Inc.

"ABF had a strong quarterly performance with an operating ratio of 90.8% compared to a 93.5% during the third quarter of 1998," said Mr. Young. "ABF's operating income of $30.6 million during the quarter represented an increase of 56% over last year's third quarter."

Third quarter 1999 revenue was up 9.7% over the same period last year. ABF's total tonnage per day increased 3.6%, including an improvement in LTL tonnage of 2.7% over the third quarter of 1998. "We are pleased with ABF's tonnage growth during the quarter," said Mr. Young. Third quarter 1999 LTL revenue per hundredweight was $19.45, an increase of 6.6% over last year. During a busy time of freight activity, ABF's workforce achieved good levels of dock and street productivity. For the first nine months of 1999, ABF's revenues increased 6.8% to $936.4 million and ABF's operating ratio was 92.3%.

Two-day transit time lanes continue to reflect strong increases when compared to ABF's remaining business. During the quarter, two-day transit time lanes had an 8.7% increase in tonnage and a 15.8% increase in revenue. These figures continue to be significantly better than the same comparisons on ABF's remaining business.

"With the beginning of the heaviest shipping period of the year and a continuing favorable pricing environment, this was one of the best quarters in ABF's history," said Mr. Young. "The employees of ABF can be proud of the tremendous job they have done in helping ABF to consistently outperform its industry peers."

. . .

The following is a "safe harbor" statement under the Private Securities Litigation Reform Act of 1995: Statements contained in this press release that are not based on historical facts are "forward-looking statements." Terms such as "estimate," "expect," "predict," "plan," "anticipate," "believe," "intend," "should," "would," "scheduled," and similar expressions and the negatives of such terms are intended to identify forward-looking statements. Such statements are by their nature subject to uncertainties and risk, including but not limited to union relations; availability and cost of capital; shifts in market demand; weather conditions; the performance and needs of industries served by Arkansas Best's subsidiaries; 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, the timing and amount of capital expenditures; the accuracy of assessments and estimates relating to Year 2000 computer issues; competitive initiatives and pricing pressures; general economic conditions; and other financial, operational and legal risks and uncertainties detailed from time to time in the Company's SEC public filings.

    ABF FREIGHT SYSTEM, INC.
    COMBINED FINANCIAL INFORMATION
    FOR THE QUARTER ENDED September 30, 1999

                              Three Months Ended          Nine Months Ended
                                 September 30                September 30
                          1999       1998    %Change   1999     1998   %Change

    Operating Revenue*  $332,302   $302,985   9.7%   $936,421  $877,084   6.8%
    Operating Income*    $30,554    $19,547           $72,528   $48,016
    Operating Ratio         90.8%      93.5%             92.3%     94.5%

                                         Three Months Ended September 30
                                        1999          1998        % Change

    Revenue*              LTL         $301,067      $274,818         9.6%
                           TL           31,235        28,167        10.9%
                        Total         $332,302      $302,985         9.7%

    Tonnage*              LTL          773,950       753,299         2.7%
    (tons)                 TL          203,462       190,303         6.9%
                        Total          977,412       943,602         3.6%

    Shipments             LTL        1,544,986     1,492,960         3.5%
                           TL           25,151        23,914         5.2%
                        Total        1,570,137     1,516,874         3.5%

    Revenue / CWT         LTL           $19.45        $18.24         6.6%
                           TL             7.68          7.40         3.7%
                        Total            17.00         16.05         5.9%

    Revenue / Shipment  Total          $211.64       $199.74         6.0%

    Cost / Shipment     Total          $192.18       $186.86         2.9%

    *Note:  Values rounded to thousands ($000)
            There were 64 workdays in the third quarter of 1999; 64 workdays
            in the third quarter of 1998 due to customers' observance of the
            July 4th holiday.
            Includes U.S., Canadian and Puerto Rican operations of ABF
            affiliates.