ARKANSAS BEST CORPORATION ANNOUNCES COMPLETION OF CARDINAL FREIGHT CARRIERS, INC. SALE (NASDAQ/NMS: "ABFS")

(Fort Smith, Arkansas, July 15, 1997) -- Arkansas Best Corporation announced today that it has successfully completed the sale of Cardinal Freight Carriers, Inc., for approximately $38 million in cash to an acquisition company organized by Golder, Thoma, Cressey, Rauner, Inc. As previously reported, the sale results in a pre-tax gain of $8-9 million subject to adjustments in the purchase price under the terms of the definitive agreement. The net proceeds from the sale were used to pay down bank debt. This reduction in bank debt, together with Arkansas Best's improved operating performance in 1997, has resulted in a reduction of 3/4 to 1% in the interest rate on the company's bank debt.

Cardinal Freight Carriers is an irregular route truckload carrier headquartered in Concord, North Carolina. For 1996, Cardinal reported revenues of approximately $75 million and operating profit of approximately $4.4 million on a segment basis. Cardinal became an Arkansas Best subsidiary as a result of the 1995 acquisition of WorldWay Corporation.

"Cardinal is an outstanding company with strong management and a bright future," stated Robert A. Young, President and CEO of Arkansas Best. "However, the sale of Cardinal will significantly reduce our outstanding debt and substantially improve our overall financial position, and it is the right thing for Arkansas Best to do at this time.

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Contact: Mr. Randall M. Loyd, Director - Financial Reporting
Telephone: (501) 788-6463