PRESS RELEASE OF THE COMPANY DATED JAN. 22, 1999
FOR IMMEDIATE RELEASE
ARKANSAS BEST CORPORATION PROPOSES A MERGER IN WHICH THE
PUBLICLY-HELD SHARES OF TREADCO, INC. WOULD BE ACQUIRED AT $9.00
PER SHARE IN CASH
(Fort Smith, Arkansas, January 22, 1999) -- Arkansas Best Corporation (ABFS) and Treadco, Inc. (TRED)
announced today that Arkansas Best has submitted a formal proposal to Treadco's Board of Directors in which
the outstanding shares of Treadco's common stock not owned by Arkansas Best would be acquired for $9.00
per share in cash. The proposal has the support of Shapiro Capital Management Company, Inc., Treadco's
largest independent stockholder, which beneficially owns 1,132,775 shares (or approximately 22%) of the
common stock of Treadco. Arkansas Best currently owns approximately 49% of Treadco.
Treadco will form a special committee of independent directors to consider Arkansas Best's proposal. The
proposal to acquire the remaining outstanding shares of Treadco is subject to the approval of Treadco's special
committee and the negotiation of a definitive agreement, which will include customary conditions to closing.
The foregoing release contains forward-looking statements that are based on current expectations and are subject
to a number of risks and uncertainties. Actual results could differ materially from current expectations due to a
number of factors, including general economic conditions; competitive initiatives and pricing pressures; union
relations; availability and cost of capital; shifts in market demand; weather conditions; the performance and needs
of industries served by Arkansas Best's and Treadco's businesses; 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; and the timing and amount of capital expenditures.
END OF RELEASE
Contact: Mr. Randall Loyd, Controller Telephone: (501) 788-6463