"It is unfortunate that the economic environment and financial markets are causing these types of reactions," stated Bill Zollars, Chairman, President and CEO of YRC Worldwide. "Yet it is important to understand these disappointing downgrades do not change our strategic plans to combine the National companies or improve our financial condition."

Despite the collateralization of these assets, the company's potential to implement multiple strategic actions is not impacted, more specifically:

-- The company can enter into sale and leaseback transactions, including the collateralized real estate. Under the credit agreement, the first $150 million of proceeds from sale and leasebacks can be reinvested in the business or must be used to pay off its $150 million term loan. After repayment of the term loan, the company can use proceeds as it deems appropriate to manage the business.

-- The company can continue to dispose of excess facilities including the expected 150 properties from the integration of Yellow Transportation and Roadway.

-- The company can also complete debt-for-debt exchanges. To the extent the principal amount of the retired debt is greater than the amount paid, the difference would be recognized as a gain on extinguishment of debt and included in the company's earnings before interest, taxes, depreciation and amortization under the credit agreement.

YRC estimates one-time fees for the collateralization to be around $7 to $10 million that would be incurred during the fourth quarter 2008 and first quarter 2009. The company's pricing under its revolving credit facility remains at LIBOR plus 160 basis points, the maximum pricing under the credit facility, which matures in August 2012. The company does not have any significant long-term debt maturities until April 2010.

For further detail on the company's credit facility, please refer to the company's Current Report on Form 8-K filed with the Securities and Exchange Commission on April 21, 2008. More at YRC WW