Exhibit 99.1
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IMMEDIATELY -- June 2, 2000
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Jack Liles: (601) 933-1240
HIGH ROAD COMMENCES TENDER OFFER
TO ACQUIRE KLLM TRANSPORT SERVICES, INC.
JACKSON, MS -- June 2, 2000 -- High Road Acquisition Corp. announced today
that its wholly-owned subsidiary, High Road Acquisition Subsidiary Corp.,
has commenced its previously announced tender offer for all of the
outstanding shares of common stock of KLLM Transport Services, Inc. (Nasdaq
National Market-KLLM) for $8.05 per share in cash. The offer will
initially expire 12:00 midnight, New York City time, on June 29, 2000, but
may be extended under certain circumstances.
The tender offer is being made pursuant to a Plan and Agreement of Merger
dated as of May 25, 2000. KLLM's Board of Directors has approved the
transaction and has recommended that KLLM's stockholders tender their
shares into the tender offer. The tender offer is conditioned upon, among
other things, (1) there being tendered and not withdrawn prior to the
expiration date of the offer at least a majority of the shares of KLLM
common stock outstanding on a fully diluted basis, and (2) the expiration
or termination of the applicable waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976.
Following successful completion of the tender offer, High Road will acquire
for the same cash price any shares that are not tendered, by means of a
merger of KLLM with High Road Acquisition Subsidiary Corp.
The tender offer is made only by an offer to purchase and other offering
documents, copies of which have been filed with the Securities and Exchange
Commission and will be mailed to KLLM stockholders. Stockholders are
advised to read the tender offer documents because they contain important
information. Stockholders may obtain a copy of the tender offer documents
and other documents filed with the SEC for free at the SEC's web site at
http://www.sec.gov. Georgeson Shareholder Communications, Inc. is the
Information Agent, and the tender offer documents, including the letter of
transmittal, may also be obtained from it by calling 1-800-223-2064.
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