Boyd Bros. Expects Loss for the Fourth Quarter of 2000.

Business Editors

CLAYTON, Ala.--(BUSINESS WIRE)--Jan. 4, 2001

Boyd Bros. Transportation Inc. (Nasdaq Small Cap: BOYD) today announced that it expects to report a loss from operations in the fourth quarter of 2000. The anticipated loss will reflect the continuation of several adverse industry trends, including:

-- Sluggish freight conditions, particularly in the steel industry. The
Company's operating revenues were down 12% in the third quarter and are
trending 12% below the fourth quarter of 1999.

-- High diesel fuel costs. Fuels costs are up 11% in the fourth quarter and are
24% higher for the year-to-date.

-- A reduction in the number of owner/operators. Higher fuel costs are forcing
independent owner/operators out of business, which reduces the number of
available drivers and hurts fleet utilization and operating efficiency.

-- Declining values of used revenue equipment. The Company's gains on the
disposition of power units, realized through normal fleet replacement and
modernization programs, have declined significantly in 2000.

-- Continued losses at the Welborn division.

Relative to the challenges facing owner/operators in this environment, Boyd Bros. intends to make a one-time special addition of $450,000 to $500,000 to its reserves for lease receivables and leased inventory in the fourth quarter of 2000. The Company has systematically set aside reserves for possible defaults on the leases it originated with owner/operators and for the possibility of diminished collateral values on the related equipment. However, with severe and continued attrition of the owner/operator ranks during the past year, the Company will strengthen these reserves in the fourth quarter, consistent with appropriate accounting standards.

Considering all these factors, the Company expects to report a net loss from operations for the fourth quarter of 2000 in the range of $0.15 to $0.20 per diluted share. In the fourth quarter last year, Boyd Bros. reported operating revenues of $34.3 million and net income of $0.12 per share. The Company plans to release full results for the fourth quarter and year ended December 31, 2000, during the first week of February.

At its peak in the fall of 1999, Boyd Bros.' owner/operator programs involved about 550 drivers, of whom approximately 270 operated equipment leased from Boyd Bros.; however, the number of drivers participating in these leasing programs declined to about 130 at the end of the fourth quarter of 2000. At December 31, 2000, Boyd Bros.' investment in sales-type leases is expected to total approximately $4.5 million, net of approximately $730,000 in reserves, or 14% of the gross outstanding lease amounts.

Statements in this release that are not strictly historical are forward-looking and are based upon current expectations. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. These risks include the availability of qualified drivers, increases in fuel prices, departures and defaults by owner/operators, and adverse safety experience, all of which may have a significant effect on the Company's operations and profitability. In a highly competitive business environment, there can be no assurance that the Company's strategies will successfully improve future operating profitability.

Boyd Bros. Transportation Inc. is one of the largest flatbed trucking companies in the United States. The Company provides transportation services to high-volume, time-sensitive customers, primarily in the steel and building materials industries, and operates throughout most of the continental United States. For more information Boyd Bros., go to at www.boydbros.com.