Exhibit
99.1
CENTRAL
FREIGHT LINES, INC. ANNOUNCES MAILING DEFINITIVE PROXY STATEMENT TO
STOCKHOLDERS
Waco,
TX (PR Newswire) -
October
23, 2006 - Central Freight Lines, Inc. (Nasdaq/NMS: CENF) announced today that
it has mailed definitive proxy statements to stockholders, which solicit proxies
for voting on the pending merger and other matters to be presented at its 2006
Annual Meeting of Stockholders. The previously announced Agreement and Plan
of
Merger (as amended, the "Merger Agreement") with North American Truck Lines,
LLC
and Green Acquisition Company provides that Jerry Moyes and certain related
parties would become the owners of Central, and Central would cease to be a
publicly traded company.
The
results of the vote on approval of the Merger Agreement will be announced at
the
Annual Meeting, which is to be held on November 21, 2006. Upon approval, the
merger is expected to close shortly after the Annual Meeting.
Stockholders
are urged to read the definitive proxy statement carefully because it will
contain important information about Central, the merger transaction, and related
matters. Stockholders may obtain free copies of the proxy statement and other
documents filed with the SEC by Central through the SEC's web site at
www.sec.gov. In addition, stockholders may obtain free copies of the definitive
proxy statement from Central.
Central
Freight Lines, Inc. is a non-union, less-than-truckload carrier specializing
in
regional overnight and second day markets in the Midwest, Southwest, West Coast,
and Pacific Northwest. Utilizing marketing alliances, Central also provides
service to the Great Lakes, Northeast, Southeast, Mexico, and
Canada.
This
press release contains forward-looking statements that involve risk,
assumptions, and uncertainties that are difficult to predict. Statements that
constitute forward-looking statements are usually identified by words such
as
"anticipates," "believes," "estimates," "projects," "expects," "plans,"
"intends," or similar expressions. These statements are made pursuant to the
safe harbor provisions of Section 21E of the Securities Exchange Act of 1934,
as
amended, and Section 27A of the Securities Act of 1933, as amended. Such
statements are based upon the current beliefs and expectations of our management
and are subject to significant risks and uncertainties. Actual events may differ
materially from those set forth in the forward-looking statements. We undertake
no obligation to update any of these forward-looking
statements.
With
respect to statements regarding the consummation of the merger, the following
factors, among others, could cause actual results to differ materially from
those in forward-looking statements: the risk that the satisfaction or waiver
of
other conditions in the Merger Agreement may cause the meeting or closing of
the
merger to be delayed; the risk that our business and liquidity will suffer
due
to uncertainties caused by the announcement of the transaction; the risk that
we
may not be able to obtain third party and stockholder approvals necessary to
consummate the transaction; as well as the risk that the transaction will not
close for other reasons.
Corporate
Contact:
Jeff
Hale, Chief Financial Officer
(480)
361-5295
jhale@centralfreight.com