Knight Transportation Announces New Agreement with Volvo Trucks North America

    PHOENIX--Aug. 27, 2002--Knight Transportation Inc. announced that it has entered into a long-term, non-exclusive agreement with Volvo Trucks North America to purchase the new Volvo VNL670 tractor, which was unveiled last week at Volvo's headquarters in Greensboro, N.C.
    "This agreement allows us to continue our long-standing relationship with Volvo, a company which has produced a tractor that is proven to be safe, cost-effective, and preferred among our drivers and mechanics.
    "We are also ensured access to new tractors under favorable terms over the next several years, while retaining our ability to deal with other tractor manufacturers," said Kevin Knight, chief executive officer.
    Knight continued, "This deal gives us a lot of flexibility in the addition of new tractors and in the disposing of used tractors. It also allows us to continue to offer our driving associates and customers one of the most modern and efficient fleets in the industry.
    "We are really excited about the VNL670, in combination with the Cummins ISX02 and the Volvo V-PULSE, as both of these engines are expected to be compliant with 2003 emissions standards. Volvo, together with our engine partners have worked hard to meet the deadlines as efficiently as possible.
    "Although the new engines will cost more, we are anxious to get some of these tractors on the road and optimistic that many of the expected additional operating costs of the 2003 compliant engines will have been mitigated by the engineers at Volvo and Cummins."
    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; Kansas City, Kansas; Portland, Ore.; Gulfport, Miss. (formerly John Fayard Fast Freight Inc.); Charlotte, N.C.; and Memphis, Tenn.
    The company transports general commodities, including consumer goods, packaged foodstuffs, paper products, beverage containers, and imported and exported commodities.

    This press release may contain statements that might be considered as forward-looking statements or predictions of future operations. Such statements are based on management's belief or interpretation of information currently available. These statements and assumptions involve certain risks and uncertainties.
    Actual events may differ from these expectations as specified from time to time in filings with the Securities and Exchange Commission.