CNF Awards 175 College Scholarships; 771 Students Assisted Since 1991.

PALO ALTO, Calif. -- CNF Inc., a management company of global supply chain services, has awarded 41 new college scholarships and 134 renewal scholarships to children of employees at CNF and its subsidiaries, Con-Way Transportation Services and Menlo Worldwide.

The students were recognized

by the company for their academic achievement and strong extracurricular activities. Annual scholarships awarded for the 2004-2005 school year total $172,150, including $132,150 for renewal awards. Over the past 13 years, CNF has awarded more than $2.3 million in scholarships to 771 students.

"One of the greatest assets we have in the United States is our educational system combined with the ability to advance in our society based upon one's merits," said Keith Kennedy, chairman and interim chief executive officer of CNF. "I would like to thank all of the people and parents at CNF who work every day to generate the profits that fund these scholarships."

Recipients of the awards are selected by the independent Scholarship America, a national nonprofit student aid service organization. The new recipients are enrolled in four-year undergraduate and specialized technical school programs. This year's CNF scholarship winners have selected a wide variety of academic majors, including accounting, biology, criminology, design, education, engineering, fine arts, mathematics, medicine, nursing, and psychology.

Students who have a parent employed by a CNF company are eligible to apply after the parent's third year of continuous employment. Awards may be renewed for as many as three years until a bachelor's degree is earned.

The following students received new scholarships for the 2004-2005 school year.

Student             Hometown               School

Wesley Arai         Los Angeles, Calif.    University of California:
                                            Berkeley
Stephanie Berg      Blue Bell, Pa.         Drexel University
Colleen Bott        Wadsworth, Ohio        Xavier University
April Camacho       Dos Palos, Calif.      Ca. State University:
                                            Fresno
Nicole Cianci       Greenville, Penn       Thiel College
Samantha Clark      Springfield, Ill.      Tulane University
Roswell Coles, IV   Beaverton, Ore.        Reed College
Shanoa Curtis       Lebanon, Tenn.         Middle Tennessee State U.
Jennifer Davis      Pickens, S.C.          Greenville Technical
                                            College
Megan Deaton        Lebanon, Ind.          Ball State University
Amanda Detweiler    Levittown, Pa.         Bucks County Community
                                            College
Amanda Draeger      New Lenox, Ill.        Valparaiso University
Meng-Meng Du        Ann Arbor, Mich.       University of Michigan
Mitchell Fields     Lowden, Iowa           St. Ambrose University
Sara Grosch         Greenville, Ohio       Clark State Community
                                            College
Jim Haney           Richmond Heights, Ohio University of Dayton
Ashley Hankin       Medina, Ohio           Indiana University of
                                            Pennsylvania
Kristina Hartman    Ann Arbor, Mich.       University of Michigan
Sarah Hebbes        Toronto, Ontario       University of Toronto
Hillary Hobson      Texarkana, Texas       Texas Tech University
Brittany Knick      Arcanum, Ohio          Indiana University East
Abigail Kurfman     Milwaukie, Ore.        Lewis & Clark College
Nicole LeBlanc      South Lyon, Mich.      Eastern Michigan University
Cassie Maclauchlan  Chester, Va.           George Mason University
Michael Marr        Muncy, Pa.             Susquehanna University
Melissa Massey      Brandon, Miss.         University of Southern
                                            Mississippi
Sarah Matthews      Olathe, Kan.           Northwestern University
Samantha Myers      Omro, Wis.             University of Wisconsin-
                                            Oshkosh
Jennifer Ng         Tualatin, Ore.         Pacific Lutheran University
Jessica Pelphrey    Tipp City, Ohio        Bowling Green State
                                            University
Regenia Phillips    Gray, Tenn.            King College
Jennifer Ralston    Lederach, Pa.          Arcadia University
Karina Rodrigues    Etobicoke, Ontario     University of Toronto
Rebecca Schuettpelz Kaukauna, Wis.         Briar Cliff University
Tyler Smith         Morrison, Ill.         So. Illinois University
                                            Edwardsville
Billy Strobel       Decatur, Ala.          University of Alabama
Sara Tank           Mesick, Mich.          Alma College
Renee Thessing      Smithton, Ill.         University of Illinois at
                                            Urbana-Champaign
Tiana Torres        Earlville, Ill.        Illinois Valley Community
                                            College
Lauren Vohs         Ramsey, N.J.           Fairleigh Dickinson
                                            University: Metropolitan
                                            Campus
Valerie Wood        Victor, W.Va.          Mountain State University

CNF (NYSE:CNF) is a $5.1 billion management company of global supply chain services with businesses in regional trucking, air freight, ocean freight, customs brokerage, global logistics management and trailer manufacturing.

Information about CNF and each of its companies can be found on the Internet at www.cnf.com.