Exhibit 99.1


Con-way




                                                        FOR IMMEDIATE RELEASE
                                                              Media Contacts:
                          Gary Frantz (650) 378-5335, frantz.gary@con-way.com
          Belinda Donovan (207) 773-0700, ext. 212, bdonovan@kempgoldberg.com
                                                            Investor Contact:
             Patrick Fossenier, (650) 378-5353, fossenier.patrick@con-way.com





CON-WAY ACQUIRES CONTRACT FREIGHTERS, INC. TO ACCELERATE GROWTH AND EXPAND

                             SERVICE OFFERINGS

      $750 Million Acquisition Creates Unique Transportation and Logistics

       Enterprise with More Diversified Revenue, Broader Capabilities



SAN MATEO, Calif. and JOPLIN, Mo. - July 16, 2007 - Con-way Inc. (NYSE:CNW),

today announced that it has entered into an agreement to acquire Contract

Freighters, Inc. (CFI), a privately held North American truckload carrier

based in Joplin, Mo., in a transaction valued at $750 million.



Founded in 1951, CFI is a respected, industry-leading service provider that

today operates over 2,600 tractors and more than 7,000 trailers, with more

than 3,000 employees including approximately 2,500 drivers that serve

customers throughout North America.



The acquisition elevates Con-way into a unique position in the freight

transportation industry, creating a leading less-than-truckload (LTL),

truckload (TL) and supply chain management enterprise with a broad portfolio

of high-value solutions, noted Douglas W. Stotlar, Con-way's president and

CEO.


"Acquiring CFI is a significant addition to Con-way's ability to serve the

customer. It establishes a superior platform for growth, clearly

differentiating Con-way as a premier provider of supply chain and freight

transportation solutions," said Stotlar. "This acquisition is a cornerstone

of our strategic plan to grow the company, build competitive advantage and

increase shareholder value."



The acquisition will join CFI with Con-way's existing Con-way Truckload

division, creating a business unit with over $500 million in annual revenues

for truckload freight. Together with the complementary capabilities of LTL

carrier Con-way Freight, and global supply chain services provider Menlo

Logistics, the Con-way organization will deliver an expanded transportation

and logistics platform to North America-based shippers as well as global

businesses, from "first-mile" sourcing in Asia or Europe, to "last-mile"

delivery in North America.



"We are excited to join the Con-way family of operating companies. CFI will

benefit from Con-way's infrastructure, broad service capabilities and strong

brand recognition," said Herb Schmidt, president and CEO of CFI. "Becoming

part of the Con-way organization will allow us to penetrate new markets and

provide new services to our customers. In addition, Con-way and CFI share

service philosophies and common values such as safety, integrity, commitment,

and excellence."



The companies expect to realize a number of strategic benefits from the

combination, including:



Diversified revenue mix.  The combined truckload operations will generate

approximately $500 million in truckload revenue for the Con-way enterprise,

enabling the company to reach a more diversified mix between LTL, TL and

logistics revenues, helping to moderate the effects of cyclical swings in the

business units.



Improved truckload operations.   Con-way's existing truckload operations will

be integrated into CFI's headquarters in Joplin, Mo. Moving this under CFI's

best-in-class operating and management practices will markedly improve

profitability on Con-way Truckload's existing revenue generated through

dedicated line-haul services for its sister LTL company Con-way Freight.



Retained contract carrier margins.  CFI is Con-way Freight's largest provider

of contract services for long-haul transcontinental truckload transportation.

The acquisition will enable Con-way to retain margins from this contract

business.  In addition, Con-way Freight is CFI's largest customer, and the

company foresees opportunities to further optimize freight operations for

both the LTL and truckload networks through this acquisition.



Enhanced Mexico presence.  With operations in Mexico for nearly 20 years, CFI

is recognized as one of that country's leading transportation providers, and

is among the largest participants in the market for cross-border truckload

freight.  Combining CFI's network, experience and expertise with Con-way

Freight's Mexico network and Menlo's in-country and border-based logistics

operations significantly improves the combined company's presence and

capabilities in Mexico.



Expanded presence in key industries.  CFI's strong customer base in the

retail and consumer products industries complements Con-way Freight's

strength in the industrial and manufacturing sector, and also aligns well

with Menlo Logistics' principal industry verticals.



Larger network footprint.  The acquisition creates one of the most extensive

infrastructure networks for less-than-truckload transportation, truckload,

and supply chain, distribution and logistics management, as well as the sixth

largest truck transportation company in North America.



Synergies with Menlo Logistics.  Menlo manages approximately $600 million in

domestic truckload transportation services on behalf of its customers, some

of which already is handled by CFI.   The acquisition will present

opportunities for CFI and Menlo to collaborate, where practical, on freight

flows to further optimize operations for its customers, introduce new

services, and drive efficiencies in the Con-way network, all while fulfilling

Menlo's responsibility to deliver the best-cost transportation solution

focused first on the requirements of its customers.



Accelerated growth opportunities, expanded services portfolio.  As a combined

company, Con-way and CFI will deliver a more comprehensive service menu for

the heavy-weight freight portion of the industry, and will be able to

leverage assets and networks to grow the company with complementary new

products and services, across a larger and more diverse customer base.



Stotlar and Schmidt both cited the similar cultures and focus on service

integrity, which are inherent to both organizations, as a key factor in

joining the companies.  CFI and Con-way are each known for exceptional

operational execution, and have market reputations as top-performing carriers

with respected, professional management and high service levels.  Their

cultures consistently emphasize employee-driven values and a focus on

efficient, exemplary service for customers.



Concluded Stotlar, "We're very excited about this acquisition and the

positive effect that joining these two industry leaders will have on the

transportation and logistics market.  This is a unique and powerful fit of

two successful companies that together have great prospects for growth, and

for driving sustainable service advantage for our customers, opportunities

for our employees and increasing value for our shareholders."



The acquisition will be structured as a merger as a result of which Con-way

will acquire CFI's parent holding company, Transportation Resources, Inc.,

CFI and all other subsidiaries of the parent holding company.  The

acquisition is subject to customary review by regulatory authorities and

fulfillment of closing conditions. The boards of directors of both companies

have approved the transaction, which is expected to conclude during the 2007

third quarter. Con-way intends to fund the acquisition with existing cash

resources together with proceeds from debt financing. The company believes

that the allocation of capital to this acquisition will be more accretive

than alternative uses of funds.



Lead financial advisor on the acquisition for Con-way Inc. was Morgan Keegan

& Co., with additional advisory support and financing for the acquisition

provided by Goldman, Sachs & Co.



Con-way and CFI executives will discuss the acquisition in a conference call

for the financial community today, Monday, July 16 at 11:00 a.m. Eastern

Daylight Time (8:00 a.m. Pacific). The conference call can be accessed at 1-

866-264-3634 from the U.S. and Canada, passcode 7519595, and also will be

available to other interested parties through a live Webcast on the Con-way

Web site, www.con-way.com. The live call will be available to international

callers at (706) 643-3632. A replay of the call will be available starting at

1:00 pm EDT on July 16 by calling 1-800-642-1687, passcode 7519595.

International callers can access the replay at (706) 645-9291.



About Con-way Inc.

Con-way Inc. (NYSE:CNW) is a $4.2 billion freight transportation and
logistics services company headquartered in San Mateo, Calif. Named FORTUNE
magazine's "Most Admired Company" in transportation and logistics for 2007,
Con-way delivers industry-leading services through three primary operating
companies: Con-way Freight, Con-way Truckload Services and Menlo Logistics.
These operating units provide high-performance, day-definite less-than-
truckload and full truckload and intermodal freight transportation, as well
as logistics, warehousing and supply chain management services, and trailer
manufacturing. Con-way Inc. and its subsidiaries operate from more than 500
locations across North America and in 20 countries. For more information
about Con-way, visit us on the Web at www.con-way.com.

About CFI

CFI is the leading service carrier in the North America truckload market.
Founded in 1951 with one tractor and two trailers, the company now operates
2,600 tractors and 7,000 trailers and serves shippers throughout the
continent. CFI was one of the first carriers to establish operations in
Mexico and for its excellence in export service, CFI received the President's
"E" and "E-Star" Awards. The company is also ISO 9001-2000 certified. CFI's
Web site can be found at www.cfi-us.com. CFI's site is also available in
Spanish, located at www.cfi-mx.com.


FORWARD-LOOKING STATEMENTS

Certain statements in this press release constitute "forward-looking
statements" and are subject to a number of risks and uncertainties and should
not be relied upon as predictions of future events. All statements other than
statements of historical fact are forward-looking statements, including any
projections and objectives of management for future operations, any
statements concerning proposed new products or services, any statements
regarding Con-way's estimated future contributions to pension plans, any
statements as to the adequacy of reserves, any statements regarding the
outcome of any claims that may be brought against Con-way, any statements
regarding future economic conditions or performance, any statements of
estimates or belief, any statements regarding the proposed acquisition of CFI
and proposed related financing, and any statements or assumptions underlying
the foregoing. Specific factors that could cause actual results and other
matters to differ materially from those discussed in such forward-looking
statements include: changes in general business and economic conditions, the
creditworthiness of Con-way's customers and their ability to pay for services
rendered, increasing competition and pricing pressure, changes in fuel prices
or fuel surcharges, the effects of the cessation of the air carrier
operations of Emery Worldwide Airlines, the possibility that Con-way may,
from time to time, be required to record impairment charges for long-lived
assets, the proposed acquisition of CFI and proposed related financing
(including without limitation the possibility that such acquisition may not
be consummated due to failure of regulatory approval or other closing
conditions to be satisfied, risks relating to the financing, integration
risks and risks that acquisition synergies are not realized), the possibility
of defaults under Con-way's $400 million credit agreement and other debt
instruments (including without limitation defaults resulting from unusual
charges), and the possibility that Con-way may be required to repay certain
indebtedness in the event that the ratings assigned to its long-term senior
debt by credit rating agencies are reduced, labor matters, enforcement of and
changes in governmental regulations, environmental and tax matters, matters
relating to the 1996 spin-off of Consolidated Freightways Corporation
("CFC"), including the possibility that CFC's multi-employer pension plans
may assert claims against Con-way, matters relating to the sale of Menlo
Worldwide Forwarding, Inc., including Con-way's obligation to indemnify the
buyer for certain losses in connection with the sale, and matters relating to
Con-way's defined benefit pension plans. The factors included herein and in
Item 7 of Con-way's 2006 Annual Report on Form 10-K as well as other filings
with the Securities and Exchange Commission could cause actual results and
other matters to differ materially from those in such forward-looking
statements. As a result, no assurance can be given as to future financial
condition, cash flows, or results of operations.