(Fort Smith, Arkansas, October 21, 2009) – Arkansas Best Corporation (Nasdaq: ABFS) today announced a third quarter 2009 net loss of $5.6 million, or $0.23 per diluted share, compared to net income of $15.4 million, or $0.60 per diluted share, in the third quarter of 2008.

“Our third quarter results reflect the on-going impact of lower freight levels and competitive industry pricing that deteriorated further compared to the first half of the year,” said Robert A. Davidson, Arkansas Best President and Chief Executive Officer. “We are now entering the fourth year of a severe freight decline that is unprecedented in our company’s history. It is unclear when business levels will benefit from a significant improvement in our nation’s economy. In the meantime, our company’s emphasis will remain on providing a high level of value-added service to our customers while managing our business, for the long-term, through diligent cost control and disciplined pricing.”  

Arkansas Best Corporation

Third Quarter 2009

• Revenue of $399.0 million, a per day decrease of 19.5% from prior year quarter of $495.8 million
• Net loss of $0.23 per diluted share compared to net income of $0.60 per diluted share in the prior year period 

ABF Freight System, Inc.^®

Third Quarter 2009

• Revenue of $369.8 million compared to $476.3 million in third quarter of 2008, a per-day decrease of 22.4%
• Tonnage per day decrease of 10.1% versus third quarter of 2008
• Total billed revenue per hundredweight of $23.98 compared to $27.75, a decrease of 13.6%, that is mainly attributable to the steep decline in fuel surcharge compared to the third quarter of 2008
• Operating loss of $14.0 million compared to operating income of $25.2 million in third quarter of 2008
• Operating ratio of 103.8% compared to 94.7% in third quarter of 2008
  

“The smaller decline in ABF’s third quarter tonnage implies an improving freight environment compared to the first half of the year. However, this year-over-year trend is primarily related to comparisons back to last year’s third quarter when business levels fell sharply.  Nevertheless, this quarter’s tonnage also benefitted from modest market share gains from our LTL competitors,” said Mr. Davidson. “On a sequential basis, ABF’s third quarter tonnage trends were slightly better than normal, seasonal expectations. Though that trend has weakened somewhat since the last full week of September, we continue to add freight previously handled by other carriers. Regardless of business levels, we continue to manage the costs of the ABF network each day in line with the amount of available freight, while striving to maintain the high level of customized service that is important to ABF’s customers.” 

“Industry LTL pricing further weakened during the third quarter. Declining yields, worsened by the recessionary economy, have made it more difficult to cover normal cost increases,” said Mr. Davidson. “Despite a more price-sensitive environment, ABF has maintained its traditional emphasis on offering each customer a fair, competitive rate. ABF’s history of pricing discipline has contributed to our current financial strength, and Arkansas Best’s financial stability allows us to maintain high service levels and manage the company for the long-term benefit of our shareholders, employees and customers.”

Conference Call

Arkansas Best Corporation will host a conference call with company executives to discuss the 2009 third quarter results. The call will be today, Wednesday, October 21, at 11:00 a.m. ET (10:00 a.m. CT).  Interested parties are invited to listen by calling (877) 275-1257 or (706) 634-6529 (for international callers). Following the call, a recorded playback will be available through the end of the day on Saturday, November 14, 2009. To listen to the playback, dial (800) 642-1687 or (706) 645-9291 (for international callers). The conference call ID for the playback is 33767405. The conference call and playback can also be accessed, through Saturday, November 14, on Arkansas Best’s website at arkbest.com.

Company Description

Arkansas Best Corporation, headquartered in Fort Smith, Arkansas, is a transportation holding company. ABF Freight System, Inc., Arkansas Best’s largest subsidiary, has been in continuous service since 1923. ABF provides transportation of less-than-truckload (“LTL”) general commodities throughout North America. More information is available at arkbest.com and abf.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 “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “plan,” “predict,” “prospects,” “scheduled,” “should,” “would,” 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, current adverse economic conditions; the impact of any limitations on our customers’ access to adequate financial resources; availability and cost of capital; shifts in market demand; weather conditions; the performance and needs of industries served by Arkansas Best Corporation’s subsidiaries; future costs of operating expenses such as fuel and related taxes; self-insurance claims and insurance premium costs; relationships with employees, including unions; union and non-union employee wages and benefits, including changes in required contributions to multiemployer pension plans; governmental regulations and policies; costs of continuing investments in technology; the timing and amount of capital expenditures; the cost, integration and performance of any future acquisitions; competitive initiatives, pricing pressures and the effect of volatility in fuel prices and the associated changes in fuel surcharges on securing increases in base freight rates; and other financial, operational and legal risks and uncertainties detailed from time to time in Arkansas Best Corporation’s Securities and Exchange Commission (“SEC”) public filings.

The following table shows financial data and operating statistics on ABF Freight System, Inc.

ABF FREIGHT SYSTEM, INC.
OPERATING STATISTICS
 

	Three Months Ended Sep 30				Nine Months Ended Sep 30
	2009	2008	% Chg		2009	2008	% Chg
Workdays	64.0	64.0			190.0	191.5
Billed Revenue* / CWT	$    23.98	$  27.75	(13.6)%		$    23.88	$  27.17	(12.1)%
Billed Revenue* / Shipment	$ 322.00	$ 368.49	(12.6)%		$  312.32	$ 356.99	(12.5)%
Shipments	1,144,026	1,286,414	(11.1)%		3,322,499	3,886,612	(14.5)%
Tonnage (tons)            Tons/Day	768,022      12,000	854,037      13,344	(10.1)%   (10.1)%		2,172,555       11,434	2,553,033         13,332	(14.9)%   (14.2)%

*Billed revenue does not include revenue deferral required for financial statement purposes under the Company’s revenue recognition policy.  

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

Arkansas Best Corporation Financial Report

Contact:   Ms. Judy R. McReynolds, Senior Vice President, Chief Financial Officer and Treasurer
              Telephone: (479) 785-6281

              Mr. David Humphrey, Director of Investor Relations
              Telephone: (479) 785-6200