CNF Names Mark C. Thickpenny as Vice President and Treasurer.

Business Editors

PALO ALTO, Calif.--(BUSINESS WIRE)--March 15, 2000

CNF has named Mark C. Thickpenny, most recently the company's assistant treasurer -- finance and planning, as vice president and treasurer of the company.

The announcement was made by Chutta Ratnathicam, senior vice president and chief financial officer of CNF (NYSE: CNF), a management company of global supply chain services.

As vice president and treasurer, Thickpenny, 47, will be responsible for corporate financing activities, worldwide treasury operations, risk management, taxation, pension investments and real estate management as well as related support for the company's subsidiaries.

"Mark brings with him a well rounded experience in both finance and treasury operations, both in his previous position with CNF and in his career prior to joining us," Ratnathicam said. "Mark has played an integral part in this company's capital funding needs created by strong and sustained growth globally. His strong management and quantitative skills will be highly valued as our company continues to focus on producing superior results and maintaining our leadership position."

As assistant treasurer, Thickpenny has been responsible for forecasting the company's capital requirements, developing and executing financing strategy, and has been actively involved in key strategic initiatives undertaken at CNF. Thickpenny joined CNF in July 1995 as treasury manager and was promoted to assistant treasurer in June 1997.

Prior to joining CNF, he was vice president and chief financial officer for the ninth largest credit union in California. Thickpenny previously worked for several public and private institutions focused on equipment and real estate leasing and lending.

Thickpenny graduated cum laude from the University of Notre Dame in 1974 with a bachelor's degree in business administration. He received his MBA degree in 1977 from the University of Chicago Graduate School of Business.

A resident of Menlo Park, Calif., Thickpenny is a member of St. Denis Parish budget/finance committee. He is married and has two children.

CNF is a $5.6 billion management company of global supply chain services with businesses in regional trucking, air freight, ocean freight, customs brokerage, global logistics management and trailer manufacturing.