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YELLOW CORPORATION IS PROPOSED NAME

 OVERLAND PARK, Kan., March 17 /PRNewswire/ -- Shareholders will be asked to approve a name change for Yellow Freight System Inc. of Delaware (NASDAQ: YELL) at the annual meeting scheduled for April 22.
 The new name -- Yellow Corporation -- was approved by the board of directors in December, subject to shareholder approval.
 "The name change addresses two concerns," said George E. Powell III, president and chief executive officer of the holding company. "First, the similarity of the company's name to that of its principal subsidiary, Yellow Freight System Inc. led to confusion in the marketplace, media and investment community. Second, the continued use of the word "Freight" in the holding company's name is no longer appropriate since the company's operations now include subsidiaries that are not directly engaged in the movement of freight by motor vehicle."
 Those subsidiaries are Yellow Technologies and Yellow Logistics Services. Each provides transportation related services without directly transporting freight.
 The proposed name change also preserves significant name recognition and brand reputation that the company derives from the continued presence and predominance of the word Yellow in the company name.
 Yellow Corporation also more clearly identifies the company's status as the holding company for operating subsidiaries engaged in related aspects of transportation.
 Most recently, the holding company expanded its portfolio of transportation services by completing an acquisition of the Preston Corporation Feb. 19, giving it significant presence in the regional transportation market.
 The names of all existing subsidiaries will remain the same. They include, Yellow Freight System, Yellow Logistics Services, Yellow Technology Services, Preston Trucking Company, Saia Motor Freight Line, Smalley Transportation Company and CSI/Reeves.
 The stock symbol, YELL also remains the same and approval of the name change will not require existing shareholders to surrender their certificates for replacement. Existing certificates remain in effect and certificates reflecting the name change shall only be issued prospectively for transactions occurring after the effective date of the name change.
 The corporation provides service to customers in North America and Europe through its subsidiary operations and now employs approximately 31,500, with over 700 locations.
 -0- 3/17/93
 /CONTACT: Linda George of Yellow Freight System Inc. of Delaware, 913-967-4383/
 (YELL)


CO: Yellow Freight System Inc. of Delaware; Yellow Corporation ST: Kansas IN: TNS SU:

MC-BB -- DV002 -- 6899 03/17/93 09:06 EST
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Publication:PR Newswire
Date:Mar 17, 1993
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