Exhibit (a)(1)(M)
For further Information contact:
Lawrence Dennedy
MacKenzie Partners, Inc.
800-322-2885
ROBERT E. LOW EXTENDS TENDER OFFER THROUGH JUNE 9, 2000
AND COMMENTS ON $8.05 BID BY JACK LILES
FOR RELEASE TUESDAY, MAY 30, 2000
Springfield, Mo. - Robert E. Low announced today that Low Acquisition,
Inc., a corporation wholly owned by Mr. Low, is extending its tender offer for
all of the outstanding shares of the common stock of KLLM Transport Services,
Inc. (Nasdaq: KLLM) (and associated preferred stock purchase rights) from the
prior expiration date of midnight on Tuesday, May 30, 2000, to midnight on
Friday, June 9, 2000. Accordingly, the tender offer and withdrawal rights will
expire at 12 midnight, New York City time, on Friday, June 9, 2000, unless Low
Acquisition, Inc. further extends the tender offer.
According to the Depositary, as of the close of business on Friday,
May 26, 2000, there were 76,339 shares of KLLM common stock (and associated
preferred stock purchase rights) tendered and not withdrawn pursuant to the
tender offer.
Mr. Low stated, "I was disappointed to learn that the Special Committee
of the KLLM Board had accepted a bid of $8.05 per share submitted only 24 hours
earlier by a group headed by Jack Liles, the current chief executive officer of
KLLM. Based on my review thus far of certain new information provided to me in
connection with my bid submitted to the Special Committee, I am confident that I
would be in a position to offer a per share price for all of the KLLM shares in
excess of the price offered by the Liles/Ebbers group and accepted by the
Special Committee. Under these circumstances, I do not see how the recent
actions taken by the Special Committee can be in the best interests of the KLLM
stockholders."
# # #
This news release is for information purposes only and is not an offer
to buy or the solicitation of an offer to sell any shares of KLLM common stock
and is not a solicitation of a proxy or written consents. If, at some future
date, a new consent solicitation is commenced by Mr. Low and/or any affiliate of
Mr. Low, a consent statement will be filed with the Securities and Exchange
Commission, which statement would contain important information that should be
read carefully by security holders of KLLM. Security holders would be able to
obtain at no charge a consent statement and related materials when they become
available on the Securities and Exchange Commission's website at www.sec.gov. In
addition, any definitive consent solicitation statement, form of consent and any
related documents would be mailed to stockholders of KLLM.
