Consolidated Freightways Reschedules Sale of Chattanooga Distribution Facility to April 15.

Business Editors/Real Estate Writers

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--April 7, 2004

As part of the largest real estate sale in transportation history -- 220 total properties with an appraised value over $400 million -- Consolidated Freightways announced that it is placing

The Chattanooga property is a 34-door cross-dock distribution facility situated on 4.08 acres and has been closed to operations since September 3, 2002 when the 75-year-old company filed for bankruptcy protection. Since then CF has been liquidating the assets of the corporation under orders of the bankruptcy court. Forty-five CF employees formerly worked at the Chattanooga terminal.

A starting price of $275,000 has been established for the property. Interested parties who would like to participate in the April bankruptcy auction should submit the form Request to be Designated a Qualified Bidder at Auction. That form can be found at www.cfterminals.com/Overbidder.html and must be submitted prior to the date of the auction. The indicated deposit must also be received, via wire or certified check, prior to the date of the auction.

To date, 192 CF properties throughout the U.S. have been sold for over $331.5 million. Potential bidders should direct any questions about the property and the bidding procedures that cannot be answered at the company's web site www.cfterminals.com, to Transportation Property Company at 800-440-5155.