Burlington Motor Carriers Executives & Partners To Submit Bid To Purchase The Company

    DALEVILLE, Ind.--Dec. 6, 2001--Thomas F. Grojean, Chairman and Chief Executive Officer, and Terry A. Wallace, President and Chief Operating Officer, of Burlington Motor Carriers are pleased to announce that senior executives of the company intend to submit an offer to purchase certain assets and substantially all of the business of the Burlington Motor Carriers within the next sixty days.
    "We feel the opportunity to acquire a sound operating business with a healthier balance sheet, a roster of great customers, and a dedicated, hard-working team of associates is a worthy investment of time and capital. We have already begun discussions with potential equity partners to invest along side the management team and we have procured the services of Mr. Thomas Eckerle from the firm of Henderson, Daily, Withrow & DeVoe in Indianapolis to provide legal counsel through this process," said Mr. Grojean.
    Burlington Motor Carriers operates nearly 2000 power units and 5000 trailers throughout North America. The company was ranked #18 in revenues among the top 20 largest truckload van carriers in the United States in 2000. At the time it filed for protection under the U.S. Bankruptcy Code in July 2001, the Company's operating performance placed it at the midpoint of publicly traded truckload carriers.
    It has an extensive presence in Mexico with offices in Monterrey and Mexico City supported by a full operations facility in Laredo, TX. In addition to its longhaul fleet, Burlington Motor Carriers also provides regional services through fleets based in Atlanta and Chicago.
    According to Mr. Wallace, "The unique blend of expertise and product offerings within this company make it well-positioned for growth and development in the years to come and will appeal to the investment community. We are now seeing the success associated with the efforts of the new leadership team the company has recently assembled. We also see a dramatic upside to this enterprise -- the status of Burlington Motor Carriers, the industry and the overall economy provide an opportune time to make this investment. This team has developed an excellent service offering that is clearly bringing value to a strong customer base - evidenced most by the fact the Company has actually grown with its top 25 customers subsequent to filing Chapter 11 in July."