Consolidated Freightways & Best Buy Cited for 2001 Quality Partnership.

Business Editors

VANCOUVER, Wash.--(BUSINESS WIRE)--Nov. 8, 2001

The freight transportation partnership between Consolidated Freightways (CF) (Nasdaq:CFWY) and Best Buy (NYSE:BBY) has been cited for its success in helping keep Best Buy's 1,700 retail outlets stocked with electronics merchandise, especially during the current holiday shopping season.

Best Buy, based in Minneapolis and the largest consumer electronics retailer in the U.S., partners with Consolidated Freightways' LTL freight services to keep shelves stocked with televisions, VCRs, CD players, computers and related peripherals. Where required Best Buy taps into CF's expedited PrimeTime service to fill more time-critical needs.

The Best Buy partnership with Consolidated Freightways has been so successful that Richard Schulze, Best Buy founder, Chairman & CEO recognized the relationship at a recent presentation of Best Buy's 2001 Quality Partnership Award. Schulze specifically cited CF for "improving the supply chain through dedication, commitment and world class performance."

With a sophisticated network of terminals, equipment, technology and trained professionals, Consolidated Freightways offers LTL, expedited and time-sensitive freight delivery throughout North America.

Best Buy, with annual sales last fiscal year of $15.3 billion, increasingly employs CF's expedited Prime Time ground service to guarantee inventory replenishment throughout its retail store network. Time-definite, LTL ground services have been generally strong in many business sectors, but especially so throughout the retail sector, according to Tom Waltz, CF Director of PrimeTime Services.

Waltz says that CF can move expedited freight and time-definite freight with astounding accuracy. "CF currently operates with a 99 percent on-time performance record, with freight typically delivered within two to five days," says Waltz. "Deliveries are guaranteed and can be scheduled to specific time windows."

According to Wayne Bourne, vice president of transportation for Best Buy, CF is a large contributor to Best Buy's strategic development process.

"We can count on CF to provide very predictable service offerings at an astonishingly consistent level of on-time performance," Bourne says. "As a result, Best Buy has been able to significantly reduce its inventory pipeline, saving considerable money and reducing customer-encountered disappointments."

Waltz notes that Best Buy cannot afford empty shelves during the critically important holiday shopping period. "Retail inventories are highly volatile, and are subject to brand-specific promotions that sometimes leave retailers short of product," he explains. "Good retailers like Best Buy must have the capability to adapt and act fast."

Best Buy is one of CF's best and largest customers, according to Waltz.

About Best Buy

Best Buy is the nation's number one specialty retailer of consumer electronics, personal computers, entertainment software and appliances. The company employs 75,000 people to operate retail stores and commercial web sites under 11 retail and Internet names. Annual sales reached $15.3 billion this year. The company's stock is traded on the NYSE using the BBY stock symbol. More information is available at www.bestbuy.com.

About Consolidated Freightways

With $2.3 billion in revenues, Consolidated Freightways operates one of the largest less-than-truckload (LTL) transportation networks. The company's 20,000 skilled professionals specialize in long-haul freight transportation throughout the North American continent.

CF's network of more than 300 terminals serves virtually every market in the U.S., Canada and Mexico. More information about the company is available at www.cf.com. CF's corporate stock is traded on the NASDAQ exchange using the CFWY stock symbol.