ANN ARBOR, Mich – May 04, 2011

Con-way Inc. (NYSE:CNW) today reported net income for the first quarter of 2011 of $6.9 million, or 12 cents per diluted share. The results compare to a first quarter 2010 net loss of $4.0 million, or 8 cents per share.

On a non-GAAP basis, net income in the 2011 first quarter was $13.2 million, or 24 cents per diluted share compared to a loss of $0.8 million, or 2 cents per share in 2010, excluding the following:

2011: $6.3 million of increased tax expense from adjustments for discrete and other tax items.
2010: A $2.8 million charge for the write-off of a customer-relationship intangible asset and $1.2 million of increased tax expense from adjustments for discrete and other tax items.

Revenue for the 2011 first quarter was $1.25 billion, a 7.2 percent increase from last year’s first quarter. Operating income in the 2011 first quarter was $36.7 million compared to $14.4 million in the first quarter a year ago.

Douglas W. Stotlar, Con-way’s president and CEO, noted that despite severe winter weather, both Con-way Freight and Con-way Truckload achieved increased profits, while Menlo Worldwide Logistics posted a good quarter against a record performance last year.

“Con-way Freight’s employees are doing a commendable job executing our strategy,” said Stotlar. “The improvement initiatives that we launched last year at our less-than-truckload (LTL) company are beginning to influence bottom-line results. The network is operating with high levels of efficiency and consistency as we continue to improve the fundamentals of the business.”

Menlo Worldwide Logistics delivered a solid performance in the 2011 first quarter. “Facing a tough comparison from a record first quarter last year, Menlo generated consistent results, growing net revenue and operating income sequentially over the fourth quarter of 2010,”Stotlar noted. “Menlo is well positioned, particularly with its growing international business and a strengthening sales pipeline in North America.”

Con-way Truckload continued to improve, recording increases in revenue, profits and operating efficiencies compared to last year’s first quarter. “Strong operating discipline, tighter capacity and improved pricing led to a good quarter for Con-way Truckload,” said Stotlar. “Empty miles are declining and revenue per loaded mile is rising. Results from the first quarter bid cycle were encouraging. Con-way Truckload continues to increase productivity and asset utilization while maintaining its position as a premium service carrier.”

In the 2011 first quarter, Con-way Inc. recognized income tax expense of $14.4 million, including the earlier-mentioned adjustments, on $21.4 million of income before taxes. In the 2010 first quarter, income tax expense of $1.1 million, including the earlier-mentioned adjustments, was reported on a $2.9 million loss before taxes.

Segment results in the 2011 first quarter for Con-way’s principal operations were as follows:

FREIGHT

For the 2011 first quarter, Con-way Freight, the company’s less-than-truckload operation, reported:

Revenue of $767.7 million, a 5.9 percent increase over last year’s first-quarter revenue of $725.0 million. Improved yield and higher fuel surcharge revenue contributed to revenue growth.
Operating income of $20.3 million compared to an operating loss of $3.2 million in the year-ago period. The quarter benefited from effective cost controls, lower health care expense, improved balance in network tonnages, strong operating efficiencies and improved yield.
Revenue per hundredweight, or yield, increased 9.7 percent from the previous-year first quarter. Excluding the fuel surcharge, yield rose 5.6 percent.
Tonnage per day declined 4.7 percent compared to the previous-year first quarter, reflecting efforts over the past year to moderate tonnage to improve network efficiency.
Operating ratio was 97.4 in the 2011 first quarter compared to 100.4 in the previous-year period.

LOGISTICS

For the first quarter of 2011, Menlo Worldwide Logistics, the company’s global logistics and supply chain management operations, reported:

Revenue of $370.0 million, an increase of 4.2 percent from the prior year first-quarter revenue of $355.2 million, due to increased revenue from transportation-management services, partially offset by lower revenue from warehouse-management services.
Net revenue of $142.3 million, a 1.3 percent decline from $144.2 million in the previous year first quarter, which benefited primarily from higher performance-based revenue compared to the current quarter.
Operating income of $8.6 million, a 32.7 percent decline from last year’s first-quarter operating income of $12.9 million, which benefited from higher performance-based revenue. Lower operating income in the 2011 period also was affected by lower margins on both warehouse- and transportation-management services. First quarter 2010 included the previously mentioned $2.8 million impairment charge.

TRUCKLOAD

For the first quarter of 2011, Con-way Truckload, the company’s full-truckload transportation operation, reported:

Revenue of $145.2 million compared to prior-year first-quarter revenue of $140.6 million, reflecting the positive effect of higher fuel surcharges and improved revenue per loaded mile (excluding fuel surcharges).
Operating income of $7.1 million compared to $3.0 million in the previous-year period. The increase in first-quarter operating income resulted largely from improved pricing and operating costs that declined as a percentage of revenue.
Revenue per loaded mile (excluding fuel surcharges) increased 3.8 percent from the previous-year first quarter.
Empty miles were 9.6 percent of total miles compared to 10.1 percent in the previous-year first quarter.
Operating ratio exclusive of fuel surcharges was 93.8, compared to 97.5 in the first quarter of 2010.

CON-WAY OTHER

Con-way Other includes the company’s Road Systems, Inc. trailer manufacturing unit as well as other corporate activities. These activities produced first-quarter operating income of $0.6 million and $1.7 million in 2011 and 2010, respectively.

INVESTOR CONFERENCE CALL

Con-way will host a conference call for the investment community tomorrow, Thursday, May 5, beginning at 8:30 a.m. Eastern Daylight Time (5:30 a.m. Pacific).

The call can be accessed by dialing (866) 264-3634 or (706) 643-3632 (for international callers) and is expected to last approximately one hour. The call will also be available through a live internet webcast at www.con-way.com, in the investor relations section.

An audio replay will be available for two weeks following the call dialing (800) 642-1687 or (706) 645-9291 (for international callers) and using access code 57077418. An Internet replay of the presentation will also be available at the Con-way website.

About Con-way
Con-way Inc. (NYSE:CNW) is a $5.0 billion freight transportation and logistics services company headquartered in Ann Arbor, Mich. A diversified transportation company, Con-way delivers industry-leading services through three primary operating companies: Con-way Freight, Con-way Truckload and Menlo Worldwide Logistics. These operating units provide high-performance, day-definite less-than-truckload and full truckload freight transportation, as well as logistics, warehousing, multimodal and supply chain management services, and trailer manufacturing. Con-way Inc. and its subsidiaries operate from more than 500 locations across North America and in 20 countries. For more information about Con-way, visit us on the Web at www.con-way.com.

ANN ARBOR, Mich., Feb. 11, 2011 /PRNewswire/ — Con-way Freight, the less-than-truckload (LTL) subsidiary of Con-way Inc. (NYSE: CNW) today announced that John P. Burton has been named Vice President – Yield Management.

(Logo:  http://photos.prnewswire.com/prnh/20060418/SFTU007LOGO)

Based at Con-way Freight’s corporate headquarters here, Burton assumes responsibility for pricing, yield and contract management, and market analysis. He also will oversee systems supporting pricing and yield management.

A 25-year industry veteran, Burton joins Con-way Freight from ACT Research, where he was vice president of the transportation sector for this demand forecasting and research firm.  His previous experience included management positions in pricing, marketing, sales administration and yield management with SCS Transportation and Preston Trucking Company, as well as Yellow Freight, a subsidiary of YRC Corp.

"We are pleased to welcome John to the Con-way Freight team," said Douglas W. Stotlar, interim president, Con-way Freight. "His background and experience are an excellent fit for our organization. We look forward to his insight and contributions."

Burton holds an undergraduate degree in mathematics and business administration from Park University, Parkville, Missouri.  He earned his MBA in marketing and operations management from the University of Missouri-Columbia.

About Con-way — Con-way Inc. (NYSE: CNW) is a $5.0 billion freight transportation and logistics services company headquartered in Ann Arbor, Mich. A diversified transportation company, Con-way delivers industry-leading services through three primary operating companies: Con-way Freight, Con-way Truckload and Menlo Worldwide Logistics. These operating units provide high-performance, day-definite less-than-truckload and full truckload freight transportation, as well as logistics, warehousing, multimodal and supply chain management services, and trailer manufacturing. Con-way Inc. and its subsidiaries operate from more than 500 locations across North America and in 20 countries. For more information about Con-way, visit us on the Web at www.con-way.com.

SOURCE Con-way Inc.

ARBOR, Mich. – February 03, 2009  The University of Michigan Transportation Research Institute (UMTRI) has joined Con-way Freight to begin field operational testing of an integrated crash warning system installed in commercial trucks under the Integrated Vehicle-Based Safety System (IVBSS) program – a cooperative agreement with the U. S. Department of Transportation.

The IVBSS technology fully integrates multiple crash warning features, including forward collision, lane departure and lane change-merge warning systems into the commercial truck platform. IVBSS provides drivers with situational awareness of the vehicle’s surroundings, and warns drivers when they are about to inadvertently leave the roadway, are in danger of colliding with another vehicle while attempting a lane change or are at risk of colliding with the vehicle ahead.

“We volunteered to participate in this project, since safety is one of Con-way Freight’s core values and we expect this type of technology to figure prominently in future safety initiatives in the transportation industry,” said Bob Petrancosta, vice president of safety for Con-way Freight. “We are committed to the safety of our drivers and the motoring public, and joining UMTRI in this effort is an excellent way to support that.”

Con-way Freight, a less-than-truckload carrier and subsidiary of Con-way Inc. (NYSE: CNW), recently purchased 10 Class-8 tractors equipped with the IVBSS technology. Over the course of the next 10 months, 20 Con-way Freight truck drivers will operate the trucks out of the company’s Detroit service center as part of its normal business operations, logging an estimated 700,000 miles. Data on driver response to IVBSS will be recorded along with extensive data collection on naturalistic use and the driving conditions. Researchers will then use the data to evaluate the potential safety benefits of integrating multiple crash warning systems.

The field testing is part of the second phase of the four-year IVBSS program. Jim Sayer, program director and UMTRI researcher, said “We’re excited to launch the field operational test. After more than two years of research, development and verification testing of the integrated system, it’s gratifying to see the system functioning as part of Con-way Freight’s fleet. We are optimistic that the testing will demonstrate the safety benefits of integrating multiple crash warning systems.”

IVBSS uses information gathered by inertial, video and radar sensors, plus a global positioning system, to warn drivers of potentially dangerous situations to prevent or lessen the severity of crashes. UMTRI will launch similar testing of systems for passenger cars in April.

Program partners for the IVBSS commercial-truck research include Eaton Corp., TK Holdings, International Truck and Engine Corporation, Con-way Freight and Battelle. The cooperative agreement is with the U.S. Department of Transportation and is administered by National Highway Traffic Safety Administration (NHTSA) with assistance from the Federal Motor Carrier Safety Administration (FMCSA). Program funding is provided by the Research and Innovative Technology Administration (RITA) of the U.S. Department of Transportation.

Additional information about the IVBSS program can be found at: http://www.its.dot.gov/ivbss/.

About UMTRI
The Transportation Research Institute at The University of Michigan is committed to interdisciplinary research that will ultimately increase driving safety and further transportation systems knowledge. UMTRI’s research significantly impacts highway transportation policy and practice, in the United States and abroad. The institute is currently operating a $22 million per year research program, with funds received from federal and state government agencies, motor vehicle manufacturers and suppliers, and other organizations. For more information, visit http://www.umtri.umich.edu/.

About Con-way Freight
Con-way Freight is the industry’s leading less-than-truckload (LTL) freight transportation company, providing guaranteed, day-definite regional and transcontinental service through a single, unified network of more than 300 service centers in the United States, Canada, Mexico and Puerto Rico. Based in Ann Arbor, Mich., Con-way Freight offers LTL freight delivery across North America, as well as delivery in the United States for international less-than-container (LCL) ocean shipments from Asia through its OceanGuaranteed^® service. Con-way Freight is a certified FAST highway carrier and is ISO 9001- and 14001-, C-TPAT/PIP, ACE- and CSA-certified.

Con-way Freight is a subsidiary of Con-way Inc. (NYSE: CNW), a $5.0 billion diversified freight transportation and logistics services company. For more information, visit www.con-way.com/freight.

ANN ARBOR, Mich. – Oct. 29, 2008 – Con-way Freight, a less-than-truckload (LTL) freight carrier and the largest subsidiary of Con-way Inc. (NYSE: CNW), announced today that William R. Wynne has been promoted to Vice President, Marketing.

Con-way Freight, a less-than-truckload (LTL) freight carrier and the largest subsidiary of Con-way Inc. (NYSE: CNW), announced today that William R. Wynne has been promoted to Vice President, Marketing.

A veteran marketing executive with over 20 years of experience, Mr. Wynne joined Con-way Freight in September 2007 as director of marketing. In his current position, he is responsible for directing the activities of Con-way Freight’s marketing organization, including resource planning and strategy development, market research, customer segmentation analysis and positioning, advertising and sales promotion programs, and execution of integrated marketing campaigns to achieve sales objectives.

“Bill’s experience and skills have been instrumental in improving our marketing effectiveness and driving increasing awareness of Con-way’s Freight’s value throughout our customer base,” said John G. Labrie, president, Con-way Freight. “This is well-deserved recognition of the innovation and leadership he’s brought to our team, which has elevated the performance and return from this key business function.”

Prior to joining Con-way Freight, Mr. Wynne advanced through increasingly responsible positions with Ford Motor Company, most recently as head of marketing for Ford Racing Technology. During his tenure at Ford he completed management assignments with franchising and incentives, manufacturing and fleet operations, import/export operations, distribution and dealer/customer relations. Prior to joining Ford, Mr. Wynne gained diverse experience in various marketing roles across several other industries, including logistics and distribution, computer services, convenience retailing, restaurant and hospitality.

“Bill has been a great addition to Con-way’s marketing team,” said Tom Nightingale, vice president of communications and chief marketing officer for Con-way Inc., the parent company of Con-way Freight. “He’s brought new perspective and keen focus on critical marketing initiatives that have driven great results for the Con-way Freight organization.”

Mr. Wynne earned his bachelor’s degree in business administration from the University of Michigan Stephen M. Ross School of Business. He also holds an MBA from Northwestern University’s Kellogg School of Management. Mr. Wynne’s outside affiliations include a part-time teaching position as adjunct professor of marketing at Eastern Michigan University, as well as membership in the Transportation Marketing and Communications Association, and the National Association for Stock Car Auto Racing (NASCAR).

Mr. Wynne resides in Ann Arbor with his wife, Susan. He is located at Con-way Freight’s general office in Ann Arbor.

ANN ARBOR, Mich. – Aug. 27, 2008 – Con-way Freight, a less-than-truckload (LTL) freight carrier and the largest subsidiary of Con-way Inc. (NYSE: CNW), announced today that 16 Con-way Freight drivers took away top 10 finishes in their respective equipment classes at the 2008 National Truck Driving Championships. Con-way Freight was represented at the annual competition, held Aug. 19-23 in Houston, by 67 of its drivers, all of whom won their state championships to qualify for the Nationals.

Known as the industry’s “Super Bowl of Safety,” competitors qualified by capturing their state title and by maintaining an accident-free safety record for the previous year. At the national competition, each driver faced testing in four areas: a personal interview, a timed written exam, a pre-trip inspection test and a driving skills test. There are a total of eight equipment classes in which drivers compete: 3-Axle, 4-Axle, 5-Axle, 5-Axle Flatbed, 5-Axle Sleeper, Straight Truck, Tankers and Twins.

Jeff Halford and Josh Jetton, two Con-way Freight driver sales representatives from Boise, Idaho, scored highest among the company’s 67 qualifiers at this year’s competition. Halford finished second in the 4-Axle division while Jetton took home a third-place trophy in the Straight Truck category. The Boise service center sent a total of five drivers to the competition, including Tracy English, a rookie competitor and the only woman to advance to the Nationals this year.

“I couldn’t be more proud of Jeff and Josh, as well as the 65 other Con-way Freight professionals who represented our company so well this year,” said John G. Labrie, president, Con-way Freight. “These men and women are the elite in our industry, the best of the best. They truly showcase the spirit, motivation and personal integrity that are the foundation of professional excellence. It was an honor to join these individuals and their families at this year’s Nationals, and to recognize them for their hard work and dedication to the highest standards of safety.”

Since the championships began in 1937, 11 Con-way Freight drivers have been named National Champion in their equipment classes, including Dale Duncan of Chula Vista, Calif., who won the National Grand Champion overall title in 2006. The national competition annually brings together nearly 400 of the nation’s most skilled and accomplished commercial truck drivers.

The remaining Con-way Freight drivers who captured a Top 10 finish this year are:

* Competed in Vermont

In 2008 Con-way Freight captured the industry’s most prestigious award for safety, receiving the President’s Trophy from the American Trucking Associations. The award signifies that Con-way Freight’s performance ranked it as the safest large trucking company in America. Collectively, Con-way Freight’s driver sales representatives traveled more than 2.2 million miles between accidents — the equivalent of driving the distance to the moon and back nearly nine times without an accident.

About Con-way Freight
Con-way Freight is the industry’s leading less-than-truckload (LTL) freight transportation company, providing guaranteed, day-definite regional and transcontinental service through a single, unified network of more than 400 operating locations in the United States, Canada, Mexico and Puerto Rico. Based in Ann Arbor, Mich., Con-way Freight offers LTL freight delivery across North America, as well as delivery in the United States for international less-than-container (LCL) ocean shipments from Asia through its OceanGuaranteed^SM service. Con-way Freight is a certified FAST highway carrier and is ISO 9001- and 14001-, C-TPAT/PIP, ACE- and CSA-certified.

Con-way Freight is a subsidiary of Con-way Inc. (NYSE: CNW), a $4.7 billion diversified freight transportation and logistics services company. For more information, visit www.con-way.com/freight.

ANN ARBOR, Mich. – Aug. 20, 2008 – Con-way Freight, a less-than-truckload (LTL) freight carrier and the largest subsidiary of Con-way Inc. (NYSE: CNW), announced today that W. Gregory “Greg” Lehmkuhl will join the organization as Executive Vice President of Operations.

Mr. Lehmkuhl comes to Con-way Freight from sister company Menlo Worldwide Logistics. In his new role, he will have responsibility for strategic planning and execution of Con-way Freight’s operating network, process design, analysis and implementation; network configuration and production efficiency. He also will direct related change management, employee engagement and leadership development activities in the operations area designed to enhance the end-to-end customer experience. He will report to John Labrie, Con-way Freight’s president.

“Greg has the background, experience and strategic vision necessary to advance our goals for improving the customer experience and further elevating Con-way Freight’s performance advantages,” said Labrie. “His skills and leadership, particularly as a process-oriented, customer-focused manager, are an excellent complement to our team. We look forward to his contributions as we continue to transform our company to become the customer’s preferred carrier, and refine Con-way’s industry-leading operating model to win in the market.”

Mr. Lehmkuhl was previously vice president of Menlo’s Automotive Industry Group (AIG), where for the past seven years he oversaw global strategic development, solution engineering and implementation, sales, pricing, customer service and account management. During his tenure as Menlo’s AIG senior leader, he directed the unit’s growth from start-up to over 1,000 employees serving a diverse group of automotive manufacturing and supplier customers with logistics and transportation management operations across the United States and 13 countries worldwide. He also has been instrumental in Menlo’s adoption of Lean methodologies for continuous improvement, since 2003 leading the design and transformation at Menlo of customer and employee engagement programs to adopt Lean operating processes and practices.

Before joining Menlo in 2001 as director of operations, Mr. Lehmkuhl spent several years in global logistics and operations management with Delphi Automotive Systems. For Delphi, he managed transportation, warehousing and customs brokerage for a $13 billion manufacturing operation spanning 65 plants in 26 countries. Prior to Delphi he worked for Penske Logistics, where he launched Penske’s first automotive lean logistics operation, and later was a line manager in engineering and logistics planning for the company’s largest automotive customer.

He is a graduate of Michigan State University, Lansing, Mich., where he earned a bachelor’s degree in business with emphasis on materials and logistics management. He subsequently earned his MBA from Oakland University in Rochester, Mich.

Mr. Lehmkuhl also is a 2004 recipient of the prestigious Raymond F. O’Brien Award of Excellence, an honor conferred upon exceptional employees by the then-CNF organization for leadership and professional accomplishment. Today, the tradition of the O’Brien award is carried on in the Con-way organization as the Con-way CEO Constellation Award.

Mr. Lehmkuhl will assume his new position with Con-way Freight over the next 30-45 days following a transition of his responsibilities at Menlo Worldwide Logistics.

About Con-way Freight
Con-way Freight is the industry’s leading less-than-truckload (LTL) freight transportation company, providing guaranteed, day-definite regional and transcontinental service through a single, unified network of more than 400 operating locations in the United States, Canada, Mexico and Puerto Rico. Based in Ann Arbor, Mich., Con-way Freight offers LTL freight delivery across North America, as well as delivery in the United States for international less-than-container (LCL) ocean shipments from Asia through its OceanGuaranteed^SM service. Con-way Freight is a certified FAST highway carrier and is ISO 9001- and 14001-, C-TPAT/PIP, ACE- and CSA-certified.

Con-way Freight is a subsidiary of Con-way Inc. (NYSE: CNW), a $4.7 billion diversified freight transportation and logistics services company. For more information, visit www.con-way.com/freight.

SAN MATEO, Calif. – Jul. 23, 2008 – Con-way Inc. (NYSE:CNW) today reported net income from continuing operations for the second quarter of 2008 of $47.1 million (after preferred stock dividends), or 98 cents per diluted share. The results compared to second-quarter 2007 net income from continuing operations (after preferred stock dividends) of $47.7 million, or 99 cents per diluted share.

Earnings from continuing operations in the 2007 second quarter included a charge of 10 cents per diluted share for vehicle casualty claims costs, and a benefit of 5 cents per diluted share from the effect of discrete tax items.

Revenue in the 2008 second quarter was $1.34 billion, an increase of 24.8 percent from last year’s revenue of $1.07 billion, complemented by acquisitions completed in 2007, and reflecting organic growth. Operating income in the 2008 second quarter was $94.9 million, an increase of 22.2 percent compared to $77.6 million earned in the second quarter a year ago.

Net income to common shareholders in the 2008 second quarter was $48.7 million, or $1.02 per diluted share. This compares to previous-year net income of $46.4 million, or 96 cents per diluted share. The 2008 second-quarter net income included a net gain of 4 cents per diluted share from discontinued operations. The 2007 second-quarter net income included a loss from discontinued operations of 3 cents per diluted share.

Commenting on the quarter, Con-way President and CEO Douglas W. Stotlar said, “Our enterprise turned in commendable results despite a challenging business environment and the inflationary effect of unprecedented fuel prices.”

Con-way Freight, the company’s less-than-truckload (LTL) unit, posted solid revenue and yield gains, benefiting from improved market responsiveness and increasing customer recognition of its transit time performance advantage. “Targeted growth initiatives, implemented late last year at our LTL unit, continued to produce market share gains,” said Stotlar. “We also began to see indications of a more stable pricing environment in the quarter.”

In the truckload sector, the weak economy drove a reduction in capacity as carriers continued to exit the market throughout the first half of 2008. “The trend of capacity leaving the market is improving the supply/demand balance which is benefiting Con-way Truckload,” Stotlar said. “Our Truckload unit did an excellent job in managing costs, and taking advantage of synergy opportunities with its sister companies to reduce empty miles and improve asset utilization.”

Menlo Worldwide Logistics recorded a double-digit increase in net revenue for the quarter, reflecting a combination of revenues from 2007 acquisitions, organic growth and a consistent win rate for new projects. While overall Menlo managed its core business operations well, profits were affected by higher than expected costs related to China activities, and two customer-specific issues which were resolved in the quarter. “Integration of our acquisition in China is proceeding at a slower pace than planned, so our expectations for profit from this operation will take a longer time horizon to realize,” Stotlar noted. “Our expansion strategy in Asia is playing out from a growth perspective; we expect to see operating results improve through the remainder of the year.”

The effective tax rate for the 2008 second quarter was 39.7 percent compared to 34.2 percent in the same period of 2007. The 2007 tax rate was affected by discrete tax adjustments which decreased the effective tax rate.

FREIGHT

For the 2008 second quarter, Con-way Freight, the company’s regional less-than-truckload operations, reported:

Operating income of $77.4 million, an increase of 7.2 percent from the $72.2 million earned in the year-ago period.

Revenues of $824.0 million, a 10.6 percent increase over last year’s second-quarter revenues of $744.9 million.

Tonnage per day handled by Con-way Freight increased 1.9 percent over the previous-year second quarter.

Yield for Con-way Freight improved 9.6 percent from the previous-year second quarter. Excluding the fuel surcharge, yield improved 1.2 percent.

Con-way Freight recorded an operating ratio of 90.8 in the 2008 second quarter compared to 90.5 in second-quarter 2007.

The 2008 second quarter had rebranding expense of $1.3 million compared to $2.9 million in 2007. The company completed Con-way Freight’s rebranding in the second quarter.

LOGISTICS

For the second quarter of 2008, Menlo Worldwide Logistics, the company’s global logistics and supply chain management operations, reported:

Operating income of $5.0 million, a 28.6 percent decrease from $6.9 million earned in the second quarter of 2007. Income decreased due to an operating loss in China, a charge related to a current customer, and a bad debt write-off.

Revenue of $377.1 million, up 16.4 percent from the previous-year second-quarter revenue of $323.9 million.

Net revenue of $126.6 million, an increase of 19.6 percent compared to $105.9 million in the previous-year second quarter. Net revenue increased primarily from organic growth and new revenues gained from Asia acquisitions completed late last year.

TRUCKLOAD

Results for the Truckload segment reflect the combined operations of Con-way’s former truckload division and Contract Freighters, Inc., which Con-way acquired in August 2007, and renamed Con-way Truckload in January 2008. For the second quarter of 2008, the company’s full-truckload transportation operations reported:

Operating income of $12.4 million.

Revenue of $137.4 million, after the elimination of $44.2 million in inter-company revenues.

Operating ratio before inter-company eliminations and exclusive of fuel surcharges was 90.6.

CON-WAY OTHER

Con-way Other includes the company’s Road Systems, Inc. trailer manufacturing unit as well as other corporate activities. These activities produced a small profit during both the 2008 and 2007 second quarters.

2008 OUTLOOK

Con-way is maintaining its outlook for 2008 full-year diluted earnings per share from continuing operations at between $3.00 and $3.40 based on an assumed number of diluted shares outstanding of 48.2 million.

Con-way’s effective tax rate is expected to be 39 percent for the year.

Launched in 1983 as Start-up Venture in a Niche Market – Next-day Trucking Service – Company Rides Industry Transformation, Service Focus to Become a $3 Billion, 20,000-Employee Enterprise

ANN ARBOR, Mich. – Jun. 11, 2008 – In 1980, when the federal government deregulated the U.S. trucking industry, the model in which trucking services had been provided for 45 years was changed forever. With the stroke of a pen, then-President Jimmy Carter ushered in a new era, one in which competition and innovation would remake an industry and open the door to new opportunities and services – while driving dramatic improvements in transportation value for shippers.

Through that door stepped the Con-way organization, which in May 1983 launched Con-way Western Express, with 11 service centers in three Western states, followed one month later by the start-up of Con-way Central Express, with 11 locations in seven Midwestern states. On their first day of business, the two carriers, which collectively began with 230 employees and 334 trucks, tractors and trailers, handled 113 shipments. The business model: provide next-day service for regional freight delivery within 500 miles.

Twenty-five years later, those start-up carriers have grown up to become Con-way Freight, a Con-way Inc. (NYSE:CNW) company and recognized leader in less-than-truckload (LTL) trucking, with more than 400 service locations, a fleet of 32,000 trucks, tractors and trailers and more than 20,000 employees who deliver industry-leading coverage and transit times throughout North America. Con-way Freight celebrates its silver anniversary this week with enterprise-wide activities and special commemorative ceremonies at many of its original 22 operating locations.

“Con-way Freight embraced the next-day regional carrier concept in 1983, when it was practically unheard of,” said John G. Labrie, president, Con-way Freight. “In just 25 years, we went from a small start-up operation with no customers to a thriving organization that serves over 100,000 customers a day in the United States, Canada, Mexico and Puerto Rico.”

“I congratulate Con-way Freight on its remarkable evolution over the past 25 years,” said Douglas W. Stotlar, president and CEO, Con-way Inc., Con-way Freight’s parent company. “Our employees have proven that by emphasizing superior service for the customer and building a company based on a culture of teamwork and shared values, we can create something unique, enduring and extraordinarily successful. And the good news is, our best years are ahead.”

Following start-up, the Con-way regional carriers quickly became established in the next-day delivery markets and grew as customers began to leverage the fast, reliable service to speed products to market and improve velocity in their supply chains. The original service center network expanded rapidly and was soon joined by new start-up operations: Con-way Southern Express, which opened for business in 1987, and Con-way Southwest Express, which was launched in 1989. By 1993, after 10 years of operation, the Con-way companies had grown to 7,600 employees at more than 300 operating locations in 32 states, with more than $800 million in revenues and a fleet of 13,660 trucks, tractors and trailers.

In 2007, Con-way Freight transformed its management structure by combining the general offices of its three regional operating entities into a single, unified organization headquartered in Ann Arbor, Mich. Evolution into a centralized operation has enabled the company to adopt uniform best practices, streamline its processes, become more responsive to the market and improve the customer experience. Today, Con-way Freight is a $3 billion enterprise with some 20,000 people in more than 400 operating locations, maintaining a fleet of more than 8,400 tractors and 25,000 freight trailers.

The company provides industry-leading transit times and superior performance in next-day and two-day service, as well as three- and four-day service for transcontinental shipments across the largest single network in North America. Throughout the network, the company moves more than 60,000 LTL shipments totaling more than 72 million pounds of freight and completes 120,000 pickups and deliveries daily.

“On this important milestone for our company, I want to thank all of our customers, employees, shareholders and suppliers for their support through this period of growth and development,” said Labrie. “We look forward to the next 25 years, earning our customers’ trust as their preferred carrier and continuing to provide the exceptional service they’ve come to expect.”

About Con-way Freight
Con-way Freight is the industry’s leading less-than-truckload (LTL) freight transportation company, providing guaranteed, day-definite regional and transcontinental service through a single, unified network of more than 400 service centers in the United States, Canada, Mexico and Puerto Rico. Based in Ann Arbor, Mich., Con-way Freight offers LTL freight delivery across North America, as well as delivery in the United States for international less-than-container (LCL) ocean shipments from Asia through its OceanGuaranteed^SM service. Con-way Freight is a certified FAST highway carrier and is ISO 9001- and 14001-, C-TPAT/PIP, ACE- and CSA-certified.

Con-way Freight is a subsidiary of Con-way Inc. (NYSE: CNW), a $4.7 billion freight transportation and logistics services company and FORTUNE magazine’s “Most Admired Company” in transportation and logistics for 2008. For more information, visit www.con-way.com/freight.

ANN ARBOR, Mich. – Apr. 21, 2008 – Con-way Freight, a less-than-truckload (LTL) carrier and subsidiary of Con-way Inc. (NYSE: CNW), today announced that it has been named by Wal-Mart Stores, Inc. as its 2007 LTL Carrier of the Year. The world’s largest retailer notified Con-way of the award following an annual performance evaluation of its trucking and logistics services providers.

Con-way was named Wal-Mart’s top provider of LTL freight transportation services based on an evaluation of key performance criteria including daily on-time delivery performance, market coverage, transit times, claims prevention, effective communication, and ease of doing business and customer service.

“Your company’s overall dedication to customer service, operational excellence and offering creative solutions to our complex supply chain opportunities has set you apart from your peers,” said Chris Sultemeier, senior vice president of transportation for Wal-Mart, in a commendation. “Wal-Mart recognizes the continued challenges facing the transportation industry, and your ability to rise above these obstacles has won our utmost trust and confidence.”

“This award is a testament to the extraordinary commitment and care our employees demonstrate every day in providing a superb service product to our customers,” said John G. Labrie, president, Con-way Freight. “This award speaks to the integrity of our service, but more importantly, it recognizes the performance excellence that starts and ends with our skilled driver sales and customer service representatives. They’re the key to this award and the service experience which sets Con-way apart in the market.”

Wal-Mart launched its carrier award program in 1997 to recognize the outstanding contributions of its transportation providers in categories including truckload, LTL, small package, produce and intermodal.

The company previously honored Con-way Freight as its 2005 LTL Carrier of the Year and for its leadership in the aftermath of Hurricane Katrina.

About Con-way Freight
Con-way Freight is the industry’s leading less-than-truckload (LTL) freight transportation company, providing guaranteed, day-definite regional and transcontinental service through a single, unified network of more than 400 service centers in the United States, Canada, Mexico and Puerto Rico. Based in Ann Arbor, Mich., Con-way Freight offers LTL freight delivery across North America, as well as delivery in the United States for international less-than-container (LCL) ocean shipments from Asia through its OceanGuaranteed^SM service. Con-way Freight is a certified FAST highway carrier and is ISO 9001- and 14001-, C-TPAT/PIP, ACE- and CSA-certified.