CNF Awards 197 College Scholarships; Nearly $1.6Million in Awards Granted Since 1991.

Business Editors/Education Writers

PALO ALTO, Calif.--(BUSINESS WIRE)--June 28, 2000

CNF Inc., a management company of global supply chain services (NYSE:CNF), has awarded 63 new college scholarships and 134 renewal scholarships to children of its employees throughout the company

The students were recognized by the company for their academic achievement and strong extracurricular activities. Annual scholarships awarded for the 2000-2001 school year total $194,300, including $132,400 for renewal awards. In the past ten years, CNF has awarded approximately $1.6 million in 1,600 scholarships.

"We are proud to recognize the achievements of our employees' children," said Gregory. L. Quesnel, president and chief executive officer of CNF, "and to support our communities by helping these students continue their education."

Recipients of the awards are selected by the independent Citizens Scholarship Foundation of America, a national nonprofit student aid service organization. Approximately 20 percent of this year's applicants for the CNF scholarships were successful. 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 architecture, biology, business, computer science, education, engineering, English, finance, nursing, political science, pre-med 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.

CNF is a $5.6 billion company with 35,000 employees and business activities in more than 200 countries. It is based in Palo Alto, California and has 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.