Roadway Shareholders Approve All Proposals; Board Declares Dividend

    AKRON, Ohio--March 27, 2002--The shareholders of Roadway Corporation today voted to re-elect all nominees proposed for election to the Board of Directors. They are Frank P. Doyle, John F. Fiedler, Dale F. Frey, Phillip J. Meek, Carl W. Schafer, Sarah Roush Werner and Michael W. Wickham.
    Various other proposals related to employee compensation and stock plans were also approved by the shareholders. Ernst and Young, LLP received shareholder approval to serve as the independent auditors of the Company for the year ending December 31, 2002.
    In a separate meeting, the Board of Directors declared a cash dividend of $0.05 per share on the Company's common stock. The dividend is payable on June 3, 2002 to shareholders of record on May 10, 2002.
    In his comments to shareholders, Michael W. Wickham, Chairman of the Board and Chief Executive Officer, said, "Roadway Corporation has a new and more diversified look than Roadway Express. That will help us to grow in markets where we were not present before this year. Each of our companies and the management of those companies are free to -- and are expected to -- operate those companies as leaders in their segment."
    "When we set up the holding company, it was with an eye toward maintaining the management and the culture of the various companies that we hold. We are committed to a very lean holding company and autonomous subsidiaries. They are all in a different business, and we want each of them to excel in their market," Wickham continued.
    Referring to Roadway Corporation's recent acquisition of New Penn Motor Express, a next-day, regional ground carrier based in the Northeast, Wickham said that the next-day segment of the industry, "...is the fastest growing of the ground freight markets, and it is more profitable than the longer haul markets. Like Roadway, New Penn is a teamster carrier. They have been known for having the best operating ratio in the LTL industry, and we are proud to have them as part of the Roadway family."
    Looking forward Wickham continued, "Once we have paid down our debt, the expertise and knowledge of New Penn's management team will provide the model for further expansion in the next-day market, which is planned through the purchase of next-day carriers in additional geographical areas."
    "The speed and the quality of the Roadway Express product met new and higher goals than ever. For that reason, we were able to maintain revenue yields in a very competitive market...that will mean a lot to us as we come out of this downturn," Wickham concluded.
    During the Annual Meeting, eighteen certified freight handlers, who placed first in Roadway's district championships across the country, were honored for their participation in Roadway's first national professional freight handlers' competition held on March 26, 2002 in Akron. All entrants had to maintain a safety record that is injury- and accident-free for the twelve-month period immediately preceding the district event through the final corporate competition. The purpose of the event was to promote safe and efficient operation of powered industrial trucks (also known as forklifts or tow motors).

    Note: While most of the information provided herein is historical, some of the comments made are forward-looking statements intended to qualify for the safe harbor from liability under the Private Securities Litigation Reform Act of 1995. All statements that are not historical statements of fact are "forward-looking statements" for purposes of these provisions and subject to numerous risks and uncertainties that could cause Roadway Corporation's actual performance to differ from that expressed or implied in the forward-looking statements. The risks and uncertainties include variable factors such as capacity and rate levels in the motor freight industry, fuel prices, the state of the national economy, the success of the Corporation's operating plans and uncertainties concerning the impact recent terrorist activities may have on the economy and the motor freight industry. These forward-looking statements reflect management's analysis of future events only as of the date of this release. Roadway Corporation undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. In addition to the disclosure contained herein, readers should carefully review risks and uncertainties contained in other documents Roadway Corporation files from time to time with the Securities and Exchange Commission.
    Included in the Dow Jones Transportation Average, Roadway Corporation , is a holding company dedicated to identifying opportunities to expand the transportation-related service offerings available to customers through the Roadway portfolio of strategically linked transportation companies. Roadway Corporation's principal operating subsidiaries include: Roadway Express, a leading ISO 9002-certified transporter of industrial, commercial and retail goods in the two- to five-day regional and long-haul markets. Roadway Express provides seamless service between all 50 states, Canada, Mexico and Puerto Rico including export services to 66 countries. New Penn Motor Express, a regional, next-day ground less-than-truckload carrier of general commodities serving twelve states in the Northeastern United States, Quebec, Canada and Puerto Rico, with links to the Midwest and Southeast United States and Ontario, Canada. And, Arnold Transportation Services, an irregular route, dedicated truckload carrier serving short-haul markets in the Northeast, Southeast, Midwest and Southwest regions of the U.S. For additional information, contact the Company at www.roadwaycorp.com.