Exhibit 99.1
For: Frozen Food Express From: Mike Engleman
Industries, Inc. Mike Engleman/Associates
Listed: Nasdaq (FFEX) 11308 Valleydale
Company Contacts: Dallas, TX 75230
Stoney M. (Mit) Stubbs, Jr. (CEO) (214) 373-6464
F. Dixon McElwee, Jr. (CFO)
(214) 630-8090
For Immediate Release
Frozen Food Express Signs
Amended $50 Million Credit Agreement
Dallas, Texas, June 1, 2000-Frozen Food Express Industries,
Inc. (Nasdaq: FFEX), today announced that it has signed an
amendment of its credit agreement with a group of three banks.
Participating in the two-year, $50 million amended revolving
credit facility are Wells Fargo Bank (Texas), N.A., Fleet
National Bank of Boston and Comerica Bank-Texas. There is
presently approximately $15 million available under the credit
agreement.
"We are pleased to have this issue behind us", said Stoney
M. (Mit) Stubbs, Jr., President and CEO of FFEX. "We are very
focused on our efforts to return to our long-term history of
profitability, and we are looking forward to having available the
liquidity to help fuel those efforts."
Frozen Food Express Industries, Inc. is one of the largest
temperature-controlled carriers of perishable goods (primarily
processed foods and meats) on the North American continent. Its
services extend from Canada, throughout the 48 contiguous United
States, into Mexico. The refrigerated trucking company is the
only one serving this market that is full-service-providing full-
truckload, less-than-truckload and distribution transportation of
refrigerated and frozen products. Its refrigerated less-than-
truckload operation is also the largest on the North American
continent.
Statements contained in this news release which are not
historical facts are forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to risks and
uncertainties (contained in the company's SEC filings) which
could cause actual results to differ.
