FORT SMITH, Ark., July 20 -- Arkansas Best Corporation (Nasdaq: ABFS) today announced second quarter 2000 net income of $17.7 million, or $0.74 per diluted common share, compared to second quarter 1999 net income of $11.1 million, or $0.47 per diluted common share. This is the highest net income for any quarter in Arkansas Best's history. This year's second quarter figure represents a 60% increase over net income during 1999's second quarter. Arkansas Best's second quarter 2000 revenue of $472.0 million represents a 12.7% increase over revenue in the second quarter of 1999.

"Arkansas Best Corporation continues to set new records with its performance," said Robert A. Young, III, Arkansas Best President and Chief Executive Officer. "ABF's second quarter operating ratio of 90.5% is the best for this quarter in twenty-two years. ABF's year-to-date operating ratio of 91.2% is its best since 1976," said Mr. Young.

ABF Freight System, Inc.

ABF's second quarter 2000 revenue increased 11.7% versus the second quarter of 1999. ABF's operating ratio of 90.5% represents an improvement of two full points versus 92.5% during last year's second quarter. ABF's second quarter operating income increased 40% to $32.6 million versus 1999 second quarter operating income of $23.3 million. Second quarter LTL revenue per hundredweight, including fuel surcharge, was $20.70, an increase of 7.4% over the same period in 1999. LTL tonnage per day during the second quarter increased by 4.4% over last year. ABF's average LTL shipment weighed 1,001 pounds compared to 994 pounds per shipment during the second quarter of 1999. Dock and city driver productivity during the second quarter remained at acceptable levels.

"ABF's quarterly results represent a significant improvement over a very good 1999 second quarter," said Mr. Young. "ABF is currently experiencing double-digit revenue growth and has made further improvements on the rate of LTL tonnage growth seen earlier this year. During a period of strong freight demand and corresponding pricing levels, ABF has maintained tight operational cost controls, resulting in a superior bottom line," said Mr. Young. "The employees of ABF are to be commended for making considerable improvements to results that had already set the standard in the long-haul, LTL industry."

This year's second quarter represented the one-year anniversary of operational changes that reduced, by one-third, the cycle time of shipments moving through ABF's distribution centers. These changes resulted in standard second-morning service in over 12,000 new lanes. The growth rate of this freight remains at a higher level than that of ABF's longer haul business. In the second quarter of 2000, two-day transit time lanes experienced an 8.8% increase in tonnage versus a 3.0% tonnage increase in ABF's longer haul business.

Earlier this month, ABF was named a Web Business 50/50 Award winner, placing www.abfs.com among the best 50 of all Web sites. Sponsored by CIO magazine, this award recognizes Internet leadership and innovation among organizations around the world. In a July 5 press release announcing this honor, ABF's President and CEO, David Stubblefield, was quoted as saying that "This award's recognition of ABF's eCommerce leadership across all industries, not just transportation, is gratifying. However, our best is yet to come. We will remain customer-focused, and we will continue to innovate." Consistent with this statement, the July 5 press release also announced a comprehensive redesign of the ABF Web site. The site design now offers a streamlined user interface and faster access to the most frequently used ABF eCenter® tools.

Russell 2000® Index

On July 10, the Frank Russell Company announced that Arkansas Best has been added to the Russell 2000® Index. This index measures the performance of the smallest 2,000 securities included in the Russell 3000® Index, which measures the performance of the 3,000 largest U.S. companies based on total market capitalization. As described by the Frank Russell Company, the Russell 2000® Index is widely regarded in the industry as the premier measure of small capitalization stocks.

Conference Call

Arkansas Best Corporation will be hosting a conference call with company executives to discuss the 2000 second quarter results. The call will be today, Thursday, July 20, at 10:00 a.m. CDT. Interested parties are invited to listen by calling (800) 289-0494. 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 492472. The conference call and playback can also be accessed on Arkansas Best's Internet web site at www.arkbest.com through Friday, August 4.

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 THREE AND SIX MONTHS ENDED JUNE 30, 2000


                         Three Months Ended June 30   Six Months Ended June 30
                           2000      1999   % Change   2000     1999  % Change

    Operating Revenue*   $344,671  $308,667   11.7%  $676,507  $604,119  12.0%
    Operating Income*     $32,622   $23,300           $59,863   $41,974
    Operating Ratio          90.5%     92.5%             91.2%     93.1%

                         Three Months Ended June 30   Six Months Ended June 30
                         2000      1999   % Change     2000     1999  % Change
    Revenue*  LTL     $314,954   $281,009  12.1%    $617,890   $550,352  12.3%
              TL        29,717     27,658   7.4%      58,617     53,767   9.0%
              Total    344,671    308,667  11.7%     676,507    604,119  12.0%

    Tonnage*  LTL      760,879    728,716   4.4%   1,510,796  1,430,954   5.6%
     (tons)   TL       182,975    183,305  (0.2)%    364,832    358,167   1.9%
              Total    943,854    912,021   3.5%   1,875,628  1,789,121   4.8%

    Shipments LTL    1,520,758  1,465,524   3.8%   3,004,945  2,883,204   4.2%
              TL        23,050     22,904   0.6%      45,984     44,774   2.7%
              Total  1,543,808  1,488,428   3.7%   3,050,929  2,927,978   4.2%

    Revenue/CWT LTL     $20.70     $19.28   7.4%      $20.45     $19.23   6.3%
                TL        8.12       7.54   7.7%        8.03       7.51   6.9%
                Total   $18.26     $16.92   7.9%      $18.03     $16.88   6.8%

    Revenue
     / Shipment Total  $223.26    $207.38   7.7%     $221.74    $206.33   7.5%

    Cost / Shipment    $202.13    $191.72   5.4%     $202.12    $191.99   5.3%

    *Note:  Values rounded to thousands ($000)
 
     There were 64 workdays in the second quarter of 2000 and in the second
     quarter of 1999.
  
     Includes U.S., Canadian and Puerto Rican operations of ABF affiliates.