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Forward Air Corporation Announces Election of Two New Independent Directors

Posted on: Thursday, 11 August 2005, 15:00 CDT

Forward Air Corporation (NASDAQ:FWRD) has elected G. Michael Lynch and C. Robert Campbell as non-management directors and members of the Audit Committee of the Board of Directors. The Company's Board now consists of eight members, six of whom are non-management directors.

Mr. Lynch is Executive Vice President and Chief Financial Officer of Federal-Mogul Corporation (OTC Bulletin Board:FDMLQ), a leading global supplier of vehicular parts, components, modules and systems to customers in the automotive, small engine, heavy duty and industrial markets. Prior to joining Federal-Mogul in 2000, Mr. Lynch worked at Dow Chemical Company, where he was Vice President and Controller. He also spent 29 years at Ford Motor Company, where his most recent position was Controller, Automotive Components Division, which ultimately became Visteon. While at Ford, Lynch held a number of varied financial assignments, including Executive Vice President and Chief Financial Officer of Ford New Holland. Mr. Lynch also sits on the board of Champion Enterprises, Inc.

Since October 2004, Mr. Campbell has been Executive Vice President and Chief Financial Officer of MasTec, Inc. (NYSE:MTZ), a leading communications and energy infrastructure service provider in North America. Mr. Campbell has over 25 years of senior financial management experience. From 2002 to 2004, he was Executive Vice President and CFO for TIMCO Aviation Services, Inc. From 1998 to 2002, Mr. Campbell was the President and CEO of BAX Global, Inc., and from 1995 to 1998, he was Executive Vice President-Finance and CFO for Advantica Restaurant Group, Inc. Mr. Campbell is a Certified Public Accountant.

Bruce A. Campbell, President and CEO of the Company, commented, "We are very pleased with the strengths and depth of experience that these gentlemen bring to our Board. We feel the composition of our Board and committee membership demonstrate Forward Air's commitment to good corporate governance and enhanced shareholder value."

About Forward Air

Forward Air is a high-service-level contractor to the air cargo industry providing time-definite ground transportation services through a network of 81 terminals located on or near major airports in the United States and Canada. The Company provides these services as a cost-effective alternative to air transportation of cargo that must be delivered at a specific time but is relatively less time-sensitive than traditional air freight or when air transportation is not economical.

Important Information

This press release contains "forward-looking statements," as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are statements other than historical information or statements of current condition and relate to future events or our future financial performance. Some forward-looking statements may be identified by use of such terms as "believes,""anticipates,""intends,""plans,""estimates,""projects" or "expects." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The following is a list of factors, among others, that could cause actual results to differ materially from those contemplated by the forward-looking statements: economic factors such as recessions, inflation, higher interest rates and downturns in customer business cycles, our inability to maintain our historical growth rate because of a decreased volume of freight moving through our network or decreased average revenue per pound of freight moving through our network, increasing competition and pricing pressure, surplus inventories, loss of a major customer, the creditworthiness of our customers and their ability to pay for services rendered, our ability to secure terminal facilities in desirable locations at reasonable rates, the inability of our information systems to handle an increased volume of freight moving through our network, changes in fuel prices, claims for property damage, personal injuries or workers' compensation, employment matters including rising health care costs, enforcement of and changes in governmental regulations, environmental and tax matters, the handling of hazardous materials, the availability and compensation of qualified independent owner-operators and freight handlers needed to serve our transportation needs and our inability to successfully integrate acquisitions. As a result of the foregoing, no assurance can be given as to future financial condition, cash flows or results of operations. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: Business Wire

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