J.B. HUNT INCREASES STAKE IN TRANSPLACE CONSORTIUM

J.B. HUNT INCREASES STAKE IN TRANSPLACE CONSORTIUM

   J.B. Hunt Transport Services Inc. will acquire a 10.28-percent equity interest in Transplace, the consortium of trucking companies, from Werner Enterprises Inc.

   Werner will therefore reduce its participation in Transplace from a 15.28-percent interest to 5 percent, and lose its seat on its board of directors. J.B. Hunt, already a member of the Transplace consortium, will take over the 10.28-percent equity interest and gain a seat on the board of directors of Transplace.

   The price of the transaction was not announced.

   Werner estimates the transaction will not have a material impact on its results of operations for fourth quarter 2002.

   Werner said the non-compete clause in its original agreement with Transplace became too restrictive relating to non-asset-based transportation services. “With this agreement, Werner is restructuring its approach to managing logistics business opportunities, while at the same time retaining an ownership position in Transplace,” a spokesman for Werner said.

   Transplace was founded in 2000 by Covenant Transport Inc.; J.B. Hunt Transport Services Inc.; Swift Transportation Co. Inc.; U.S. Xpress Enterprises Inc.; and Werner Enterprises Inc.