ARKANSAS BEST CORPORATION ANNOUNCES RESULTS OF CALL REDEMPTION OF $2.875 SERIES A CUMULATIVE CONVERTIBLE EXCHANGEABLE PREFERRED STOCK

(Fort Smith, Arkansas, September 14, 2001) – Arkansas Best Corporation announced today the results of its call for redemption of all outstanding shares of its $2.875 Series A Cumulative Convertible Exchangeable Preferred Stock. Based on preliminary totals at the end of the extension period today, 1,382,650 shares of the preferred stock were converted into 3,511,439 shares of common stock and 7,350 shares of preferred stock were redeemed at the redemption price of $50.575 per share, plus accrued and unpaid dividends to, but not including, the redemption date. Conversion of the preferred stock into common stock will not be dilutive to Arkansas Best’s earnings because share conversion was required to be considered in previous earnings per share calculations.
As of September 12, 2001, Arkansas Best Corporation has delisted its preferred stock, which traded under the symbol “ABFSP”, from The Nasdaq National Market.
Arkansas Best Corporation’s common stock will continue to trade on The Nasdaq National Market under the symbol “ABFS.”
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.
Contact: Mr. David E. Loeffler, Vice President, Chief Financial Officer and Treasurer
              Telephone: (479) 785-6157        
              Mr. David Humphrey, Director of Investor Relations
              Telephone (479) 785-6200