Knight Transportation Inc. Clarifies Stock Transaction Information Reported Incorrectly

    PHOENIX--July 13, 2001--The Dow Jones News on June 15, 2001 and Transport Topics on July 2, 2001, erroneously reported that Kevin P. Knight, chairman and chief executive officer of Knight Transportation Inc. sold 193,750 shares of Knight Transportation stock for $26-$26.50 per share between May 1, 2001 and May 3, 2001.
    Knight, during the period May 1, 2001 to May 3, 2001, sold 25,000 shares of Knight Transportation Inc. stock for $26-$26.50 per share, as reflected on Form 4 filed with the SEC and Nasdaq. Knight sells approximately 10,000 to 50,000 shares of Knight Transportation Inc. stock each quarter as part of a diversification program adopted in late 1994 and reports those sales to the SEC and Nasdaq on Form 4.
    A private foundation controlled by Knight periodically sells shares of Knight Transportation Inc. to provide liquidity for its charitable purposes.

    About Knight Transportation

    Knight Transportation Inc. is a short-to-medium haul, dry van truckload carrier headquartered in Phoenix. The company serves most of the United States through its regional operations in Phoenix; Salt Lake City; Indianapolis; Katy, Texas; and Charlotte, N.C. The company's operations also include those of John Fayard Fast Freight Inc. located in Gulfport, Miss.
    The company transports general commodities, including consumer goods, packaged foodstuffs, paper products, beverage containers and imported and exported commodities. For more information about Knight Transportation, please visit our Web site at www.knighttransportation.com or call Tia Frederick in Investor Relations at 602/606-6232.

    Knight Forward-Looking Statement

    This press release, as well as comments made by Knight during his presentation, may contain statements that may be considered forward-looking or predictions about future operations. Words such as "believe," "may," "could," "expects," "hopes" and "likely," and variations of these words or similar expressions, are intended to identify such forward-looking statements.
    Forward-looking statements involve risks, assumptions and uncertainties which are difficult to predict and which the company may not control. The company's actual results could differ materially from those discussed in any forward-looking statement.
    Factors which could cause or contribute to such differences include, but are not limited to, those discussed in the sections entitled "Factors That May Affect Future Results" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" set forth in the company's annual report on Form 10-K and the company's reports on Form 10-Q.
    The company specifically calls to the attention of investors those risk factors discussed in the company's Form 10-K under the title, "Factors That May Affect Future Results."