Heartland Express, Inc. Announces Expansion of Operating Facilities

    CORALVILLE, Iowa--March 20, 2003--Heartland Express, Inc. announced today the purchase and planned purchase of Regional Operating Terminals in or near Columbus, OH; Carlisle, PA; Chester VA; and Memphis TN. The expansion of regional operating facilities is the result of the growth of our regional operations and planned expansion into additional geographical regions.
    Mr. Russell Gerdin, Chairman and CEO of Heartland stated, "These purchases which are expected to exceed $10 million, are part of an overall plan to maintain a Regional Terminal network that will support present and future market needs. We had outgrown both our Columbus and Carlisle facilities. Recently we purchased and relocated to a much larger terminal to support our Columbus Operations and are in the market to purchase an existing facility or site to build suitable facilities in or near Carlisle, PA. Until that time, we will continue to operate out of our existing Carlisle facilities."
    An agreement has been made in principal to purchase the terminal currently being leased by the Company in Chester VA. Mr. Gerdin stated, "Our acquisition of Great Coastal Express in June of 2002 increased our market share in the mid-Atlantic region, we have found this to be a great location to continue to build our regional presence on the Atlantic seaboard." The Company expects to finalize the transaction sometime during the second quarter of 2003.
    The Company has purchased and is in the process of purchasing and renovating properties in Olive Branch, MS, (near Memphis, TN). When asked how this new Regional location would benefit the Company, Mr. Gerdin commented, "We are excited about this effort. We have been looking at the Memphis area as a prime location for a Regional Terminal for some time. Although times are tough for the industry, we believe that it is a good time to position the Company in the Memphis regional market. We have served this market for a number of years with our over-the-road system division, but, our regional presence will provide us more opportunities to build our customer and driver base in the region."
    Heartland ended the year of 2002 with revenues of $340.7 million, an operating ratio of 81.8%, debt free, and with $153.9 million cash, cash equivalents, and municipal bonds. The Company expects to fund the purchases with existing cash or cash equivalents.
    Heartland Express, Inc. is an irregular route truckload carrier of general commodities. The Company has built a solid reputation for providing superior service to the short to medium haul truckload market. Principal traffic lanes lie east of the Rocky Mountains however the Company does provide select team service to the West Coast markets.
    This press release contains forward-looking statements, which are based on 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. The Company assumes no obligation to update any forward-looking statement to the extent it becomes aware that it will not be achieved for any reason.