FORT SMITH, Ark., April 18 -- Arkansas Best Corporation (Nasdaq: ABFS) today announced net income for the first quarter of 2000 of $13.2 million, or $0.55 per diluted common share, compared to 1999 first quarter income from continuing operations of $7.5 million, or $0.32 per diluted common share. For the second consecutive year, Arkansas Best produced the highest first quarter net income in its history. This year's figure of $13.2 million represents a 93% increase over net income of $6.8 million earned during last year's first quarter.

"I am pleased to report another strong quarterly performance for Arkansas Best Corporation," said Robert A. Young III, Arkansas Best President and Chief Executive Officer. "ABF's 91.8% operating ratio this quarter is 1.9 points better than last year's first quarter and four points better than the first quarter of 1998. It is the best first quarter operating ratio for ABF since 1976," said Mr. Young.

ABF Freight System, Inc.

ABF's first quarter 2000 revenue increased 12.3% versus the first quarter of 1999. ABF's first quarter 2000 operating ratio was 91.8% compared to 93.7% during the same period last year. ABF's operating income during the first three months of this year was $27.2 million versus 1999 first quarter operating income of $18.7 million. First quarter LTL revenue per hundredweight including fuel surcharge was $20.20, an increase of 5.3% over the same period in 1999. This year's first quarter LTL tonnage per day increased by 3.5% when compared to the same period a year ago. Dock and city driver cost per shipment at ABF remains at efficient levels.

"ABF begins the new year maintaining its leading position in the long- haul, LTL industry with additional improvements in its bottom line operating performance," said Mr. Young. "The LTL pricing environment remains positive and business levels are strong as ABF continues its recent quarterly trend of significant increases in LTL tonnage," said Mr. Young. "These trends combined to produce another record-breaking first quarter at ABF."

ABF continues to experience success in the two-day transit time lanes. In the 2000 first quarter, two-day transit time lanes had a 6.0% increase in tonnage versus a 2.2% tonnage increase in ABF's longer haul business.

On April 10, executives at Arkansas Best and ABF hosted an Internet-based conference call, describing ABF's strategies for providing two-day freight delivery and discussing innovations offered on ABF's Internet site that provide opportunities in business-to-business eCommerce. As discussed above, by offering two-day service between numerous large and small communities within its standard operating network, ABF has experienced growth in these lanes that is significantly better than its standard long-haul lanes. Registered users of ABF's Internet site are responsible for approximately one- half of ABF's total system revenue. Each day, ABF's Internet site has over 5,000 user sessions, with the average lasting over nine minutes. This illustrates that ABF's customers are finding value and useful information during their visits. ABF's industry-leading Internet site, along with its established terminal network covering the United States and Canada, provides the perfect opportunity for ABF to participate in new business-to-business eCommerce. The replay of the conference call describing two-day service and ABF's Internet offerings will be available on the web sites of Arkansas Best (www.arkbest.com) and ABF (www.abfs.com).

Credit Ratings Improvement

On March 15, Standard and Poor's raised their corporate credit and bank loan ratings for Arkansas Best Corporation to BBB-, investment grade. On April 5, Moody's Investors Service upgraded Arkansas Best's senior implied rating to Ba1, the same rating as the company's senior revolving credit facility. Additionally, as of April 1, 2000, the company's $250 million senior revolving credit facility became unsecured.

Conference Call

Arkansas Best Corporation will be hosting a conference call with company executives to discuss the 2000 first quarter results. The call will be today, Tuesday, April 18, at 10:00 a.m. CDT. Interested parties are invited to listen by calling (800) 967-7185. Following the call, a recorded playback will be available for one week. To listen to the playback, dial (888) 203-1112. The passcode for the playback is 356519. The conference call and playback can also be accessed on Arkansas Best's Internet web site at www.arkbest.com.

Forward-Looking Statements

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; 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 March 31, 2000

                                          Three Months Ended March 31
                                     2000            1999         % Change

    Operating Revenue*             $331,836        $295,452         12.3%
    Operating Income*               $27,241         $18,673
    Operating Ratio                   91.79%          93.68%

    Revenue*          LTL          $302,937        $269,344         12.5%
                      TL             28,899          26,108         10.7%
                      Total         331,836         295,452         12.3%

    Tonnage*          LTL           749,917         702,238          6.8%
     (tons)           TL            181,857         174,863          4.0%
                      Total         931,774         877,101          6.2%

    Shipments         LTL         1,484,187       1,417,680          4.7%
                      TL             22,934          21,870          4.9%
                      Total       1,507,121       1,439,550          4.7%

    Revenue/CWT       LTL            $20.20          $19.18          5.3%
                      TL               7.95           $7.47          6.4%
                      Total          $17.81          $16.84          5.8%

    Revenue/Shipment  Total         $220.18         $205.24          7.3%

    Cost/Shipment     Total         $202.10         $192.27          5.1%

    *Note: Value rounded to thousands ($000)
 
     There were 65 workdays in the first quarter of 2000 and 63 workdays
  in the first quarter of 1999. 

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