J.B. Hunt Transport Services, Inc. Announces Pricing of Stock Offering

    LOWELL, Ark.--May 31, 2002--J.B. Hunt Transport Services, Inc. today announced the pricing of a public offering of 5,100,000 shares of common stock at a price of $26.00 per share, before underwriting discounts and commissions.
    2,000,000 shares are being offered by J.B. Hunt, and 3,100,000 shares are being offered by the selling stockholder. In addition, the underwriters have an option to purchase up to a total of 765,000 additional shares from the Company to cover over-allotments, if any. The net proceeds of the offering to the Company are intended to be used to reduce indebtedness and to fund capital expenditures.
    Bear, Stearns & Co. Inc. is acting as the sole book-running manager for the offering. The joint lead managers are Credit Suisse First Boston Corporation and Deutsche Bank Securities Inc. and the co-managers are J.P. Morgan Securities Inc., BB&T Capital Markets, a division of Scott & Stringfellow, Inc. and Stephens Inc.
    Copies of the final prospectus relating to this offering may be obtained from Bear, Stearns & Co. Inc. at 383 Madison Avenue, New York, New York 10179, 212/272-2000.
    A registration statement relating to these securities was filed by the Company and has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
    J.B. Hunt Transport Services, Inc. is a full-load transportation logistics company, operating in three distinct, yet complementary, business segments, providing a wide range of tailored solutions to a diverse group of customers.