FOR IMMEDIATE RELEASE                     For further information, call:
                                          Sam Waltz, APR
March 29, 2001                            Sam Waltz & Associates
                                          Public Relations Counsel
                                          (302) 777-4774

                                          Patrick J. Bagley
                                          Vice President-Finance and Treasurer
                                          Matlack Systems, Inc.
                                          (302) 426-2930

                       MATLACK SYSTEMS, INC. FILES CHAPTER 11
                             PAVES WAY FOR RESTRUCTURING

Wilmington, Delaware - Matlack Systems, Inc. (OTCBB Symbol: MLKI), one
of the nation's largest tank transporters for the chemical industry,
today filed a petition in Delaware seeking protection under Chapter 11
of the Federal Bankruptcy Code.

Management also reported that its bank lenders are supporting the
business through the Chapter 11 process by allowing the Company to use
the lenders' cash collateral while debtor in possession financing is
negotiated.

"Our customers should know that they can continue to rely on us for the
same high standards of service and safety, and our employees should
know that we will continue to do what's best for the Company and for
them." said President and CEO, Michael Kinnard.  "Also, our suppliers
need to know that they can continue to look to us in the future as a
supportive revenue source for their business operations."

"Many of our customers have told us that they need Matlack to remain a
vital and viable component of this industry," Kinnard added.  "Their
willingness to continue to support our Company is a source of great
encouragement to us.  Matlack is a key player in this industry and
getting its operations in line with current economic and industry
trends is essential, not only to us, but also to the industry.  Recent
trends have been both volatile and challenging, as the chemical
industry has felt the constraints of a shrinking economy.  Any company
that wants to remain viable for the sake of customers, employees, and
other stakeholders needs to be flexible enough to adapt to rapid
changes in the economy.  That is what we are doing."

Matlack currently has 53 fleet terminals operating throughout the
country, with about 1,500 employees the majority of which are terminal
employees, mechanics, drivers, account managers and customer service
representatives, who tend to the needs of our customers.

This release contains or may contain forward-looking statements based
on management's beliefs and assumptions.  Such statements are subject
to various risks and uncertainties, which could cause results to vary
materially.  Please refer to the Company's SEC filings for a discussion
of such factors.
                                      *   *   *
Matlack Systems, Inc. is a specialized transportation company serving
the chemical industry with facilities throughout North America.