CENF Central Freight Lines

Central Freight Lines, Inc. Announces Two-Year Contract for Chief Executive Officer Bob Fasso WACO, Texas, July 5 /PRNewswire-FirstCall/ -- Central Freight Lines, Inc. (NASDAQ:CENF) today announced that the company and Chief Executive Officer, Bob Fasso, have agreed on the terms of a two-year contract for Mr. Fasso. Central's non-executive Chairman of the Board of Directors, Jerry Moyes, stated: "The board unanimously approved the terms of a two-year contract for Bob, and I am personally pleased that Bob and the board have renewed their joint commitment to restoring Central to the operating and profitability performance that our customers, employees, and stockholders expect. Over their careers, Bob and his team have a history of success in improving the operations of LTL companies. With the full support of the board, the executive team, and all of Central's great employees, we expect dramatic improvements at Central as well." Central's President and Chief Executive Officer, Bob Fasso, stated: "I look forward to applying all of my efforts and experience, as well as the valuable insights of my colleagues, toward making Central a leader in service, safety, and profitability, and a great place to work. I believe we have the geographic footprint and the operating plan to succeed. I also believe in the thousands of dedicated employees at Central, and I am confident that, working together toward a unified goal, we can achieve great things." Central Freight Lines, Inc. is a non-union less-than-truckload carrier specializing in regional overnight and second day markets. One of the 10 largest regional LTL carriers in the nation, Central provides regional, interregional, and expedited services, as well as value-added supply chain management, throughout the Midwest, Southwest, Northwest and West Coast. Utilizing marketing alliances, Central provides service solutions to the Great Lakes, Northeast, Southeast, Mexico, and Canada. This press release contains forward-looking statements that involve risk, assumptions, and uncertainties that are difficult to predict. Statements that constitute forward-looking statements are usually identified by words such as "anticipates," "believes," "estimates," "projects," "expects," "plans," "intends," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of our management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those in forward-looking statements: the risk that operational improvements may be delayed or may not occur at all; the risk that efficiency and productivity measures, including dynamic resource planning programs, will be further delayed or will not be successfully implemented throughout our operations; the risk that significant geographic expansion has produced or may produce freight imbalances, customer service issues, operational issues, or other consequences that we cannot manage successfully on a timely basis or at all; the risk of personnel changes that may disrupt operations or delay operational improvements; the risk that customer service may not improve which may lead to revenue decreases or difficulty in raising rates; the risk that past success by members of management may not be indicative of future success at Central; the risk that safety may not improve and that our insurance and claims costs will continue to exceed our expectations; and the risks detailed from time to time in reports filed by the Company with the Securities and Exchange Commission, including forms 8-K, 10- Q, 10-K, and our registration statement on Form S-1. For additional information contact: Robert V. Fasso, Chief Executive Officer, or Jeff Hale, Chief Financial Officer, at (480) 361-5295. http://www.newscom.com/cgi-bin/prnh/20040205/DACENTRALLOGO http://photoarchive.ap.org/ DATASOURCE: Central Freight Lines, Inc. CONTACT: Robert V. Fasso, Chief Executive Officer, or Jeff Hale, Chief Financial Officer, +1-480-361-5295, both of Central Freight Lines, Inc. Web site: http://www.centralfreight.com/

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