Cannon Express Announces Innovative B2B Internet Site for Small, Mid-Sized and Large Carriers.

Business Editors

SPRINGDALE, Ark.--(BUSINESS WIRE)--March 22, 2000

Today Cannon Express Inc. of Springdale, AR (AMEX: AB) announced the formation of Carriersco-op.com (www.carriersco-op.com), an innovative internet transportation B2B company. Carriersco-op.com offers an alternative to the .com logistics conglomerates by preserving the independence of the thousands of small to mid-size carriers throughout the U.S. and helping them compete with the giants in the industry.

Carriersco-op.com secures this alternative for the small, mid-sized and large carriers by pooling the freight moving and buying power of this group, and sharing their customers excess loads that they are unable to transport or broker on their own with the group, thereby lowering empty miles and generating extra income for each company. The same holds true with purchasing power for insurance, truck parts, tires, service, lodging, financing and members used truck and trailer sales. Carriersco-op.com allows Participating Shippers to list their freight in the system and private carriers match loads that will pay them back to where they need to go, thereby reducing backhaul costs.

There are many NON-ASSET based Internet companies and several major trucking firms that have formed and/or are forming strategic alliances. According to Dean Cannon, Chairman and CEO of Cannon Express, Inc., all of these non-asset based companies are purporting to help the smaller trucking companies and shippers by lowering their operating costs through using the small and mid-size carriers to haul the conglomerates freight and selling them goods and services they MAY have negotiated for lower prices.

Dean Cannon, further states: "This all sounds good, but how does helping the conglomerates or non-asset based companies build their customer base help preserve and maintain the customers of the smaller companies? In short, I don't believe it will. In the long term, I believe it will become all but impossible for the other trucking companies to maintain their customer relationships or compete with the giants because of the additional revenue the big ones gain from the smaller carriers. This will allow the conglomerates to lower their own expenses to the point that smaller companies will not be able to compete in the marketplace. We can offset this effect by uniting with Carriersco-op.com for the benefit of the small and mid-sized carrier." Cannon further states: "Collectively we represent well over 2,000,000 trucks. That makes us the largest and most powerful group in the U.S. Together we can maintain our identity, customers, and business and lower OUR costs, not the costs of our largest competitors."