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SWIFT TRANSPORTATION CO. INC. ENTERS INTO AGREEMENT

 SPARKS, Nev., April 30 /PRNewswire/ -- Jerry Moyes, president and chief executive officer of Swift Transportation Co. Inc. (NASDAQ-NMS: SWFT), today announced that the company has entered into an agreement to acquire all of the capital stock of West's Best's Freight System Inc. ("West's Best") of Lewiston, Idaho. West's Best's truckload van operation contains 105 tractors and 321 trailers. Swift will acquire all of West's Best's issued and outstanding capital stock from its sole shareholder and president Kenneth B. Cook, in exchange for 146,154 shares of Swift common stock with an aggregate value of approximately $3.8 million. Cook will become an employee of Swift and oversee the Lewiston operation.
 In a related transaction, Swift will also acquire from Cook, West's Best's terminal facilities in Lewiston for $800,000 and will assume the ground lease on which the terminal facility sits.
 For the 12 months ended Dec. 31, 1992, West's Best generated revenues of $11.4 million and net earnings of $277,000. Both Swift and West's Best provide transportation services to one major shipper who represents more than 40 percent of West's Best's business. If consummated, the acquisition will allow Swift to expand its services with this major shipper and introduce Swift to new relationships with other West's Best regional accounts.
 The acquisition has already been approved by Swift's board of directors contingent upon satisfactory due diligence investigation by Swift. Assuming all conditions are satisfied, the closing is scheduled to occur on or about June 1, 1993.
 Swift is a Delaware corporation and is a holding company for Swift Transportation Co. Inc., a truckload motor carrier headquartered in Phoenix. Swift has a strong regional operation in the Western and Eastern United States which are complemented by a specialized transcontinental double van operation. Swift is one of the largest truckload carriers in the United States.
 -0- 4/30/93
 /CONTACT: Jerry Moyes, president, or Bill Riley, CFO, of Swift Transportation, 702-359-9031/
 (SWFT)


CO: Swift Transportation Co. Inc.; West's Best Freight System Inc. ST: Nevada IN: TRN SU: JVN

EH -- LA016 -- 3253 04/30/93 13:33 EDT
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Publication:PR Newswire
Date:Apr 30, 1993
Words:347
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