Update to Members Regarding CF Offer

Update to Members Regarding CF Offer

December 17, 2002

Be advised that Rollin’ International has made an offer to purchase Consolidated Freightways to the Bankruptcy Court. This offer has not been approved by the Court.

Therefore, any arrangements or procedures to be returned to work is premature.

We will keep you informed of the Bankruptcy Court’s decision of Rollin’ International’s proposal to purchase CF.