Exhibit 99

                              CAUTIONARY STATEMENT

     Forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 (the "PSLRA") are included in our Form 10-K. The
words or phrases "believes," "may," "will," "expects," "should," "continue,"
"anticipates," "intends," "will likely result," "estimates," "projects" or
similar expressions identify forward-looking statements in our Form 10-K and in
our future filings with the Securities and Exchange Commission, in our press
releases, in our presentations to securities analysts or investors, and in oral
statements made by or approved by an executive officer of Robinson. Forward-
looking statements involve risks and uncertainties that may materially and
adversely affect our business, results of operation, financial condition or
prospects, and may cause our actual results to differ materially from historical
results or the results discussed in the forward-looking statements.

     You should consider carefully the following cautionary statements if you
own our common stock or are planning to buy our common stock. We intend to take
advantage of the "safe harbor" provisions of the PSLRA by providing this
discussion. We are not undertaking to address or update each factor in future
filings or communications regarding our business or results except to the extent
required by law.

     Demand for our services may decrease during an economic recession. The
transportation industry historically has experienced cyclical financial results
as a result of economic recession, the business cycles of customers, price hikes
by carriers, interest rate fluctuations, and other economic factors beyond our
control. Carriers can be expected to charge higher prices to cover higher
operating expenses, and our net revenues and income from operations may decrease
if we are unable to pass through to our customers the full amount of higher
transportation costs. If economic recession or a downturn in our customers'
business cycles causes a reduction in the volume of freight shipped by those
customers, particularly among certain national retailers or in the food,
beverage or printing industries, our operating results could also be adversely
affected.

     We depend upon available equipment and services. We do not own trucks or
other transportation equipment, and we depend in part on independent third
parties to provide truck, rail, ocean and air services. Equipment shortages in
the transportation industry have occasionally occurred, particularly among
truckload carriers. If we are unable to secure sufficient equipment or other
transportation services to meet our customers' needs, our operating results
could be materially and adversely affected, and our customers could switch to
our competitors temporarily or permanently.

     Our international business raises additional difficulties. We provide
services within and between continents on an increasing basis. Our business
outside of the United States is subject to various risks, including:

     .    changing local economic and market conditions,
     .    political and economic instability,


     .    fluctuations in currency exchange rates,
     .    armed conflicts, and
     .    unexpected changes in United States and foreign laws relating to
          tariffs, trade restrictions, transportation regulations, foreign
          investments and taxation.

     As we expand our business in foreign countries we will expose the Company
to increased risk of loss from foreign currency fluctuations and exchange
controls as well as longer accounts receivable payment cycles. We have no
control over these risks, and if we do not correctly anticipate changes in
international economic and political conditions, we may not alter our business
practices in time to avoid adverse effects.

     Our management and internal systems may be inadequate to handle continued
growth of our business. Our continued success depends upon our ability to
attract and retain a large group of motivated salespersons and other logistics
professionals. If we cannot recruit and retain a sufficient number of personnel,
we may be forced to limit our growth. We cannot assure you that we will be able
to continue to hire and retain a sufficient number of qualified personnel. Our
rapid expansion of operations has placed added demands on our management and
operating systems. Continued expansion depends in large part on our ability to
develop successful salespersons into managers and to implement enhancements to
our information systems that are adaptable to the changes in our business and
the requirements of our customers.

     We face substantial industry competition. Competition in the transportation
services industry is intense and broad based. We compete against other non-asset
based logistics companies as well as logistics companies that own their own
equipment, third-party freight brokers, Internet matching services and Internet
freight brokers, and carriers offering logistics services. We also compete
against carriers' internal sales forces and shippers' transportation
departments. We often buy and sell transportation services from and to many of
our competitors. Historically, competition has created downward pressure on
freight rates, and continued rate pressure may adversely affect our net revenues
and income from operations.

     Our earnings may be affected by seasonal changes in the transportation
industry. Results of operations for our industry generally show a seasonal
pattern as customers reduce shipments during and after the winter holiday
season. In recent years, our operating income and earnings have been lower in
the first quarter than in the other three quarters. Although seasonal changes in
the transportation industry have not had a significant impact on our cash flow
or results of operations, we expect this trend to continue and we cannot assure
you that it will not adversely impact us in the future.

     Our sourcing business is dependent upon the supply and price of fresh
produce. The supply and price of fresh produce is affected by government food
safety regulation, growing conditions (such as drought, insects and disease),
and other conditions over which we have no control. Shortages or overproduction
of fresh produce affect commodity prices, which are often highly volatile.

     Sourcing and reselling fresh produce exposes us to possible product
liability.  Agricultural chemicals used on fresh produce are subject to various
approvals, and the


commodities themselves are subject to regulations on cleanliness and
contamination. Product recalls in the produce industry have been caused by
concern about particular chemicals and alleged contamination, often leading to
lawsuits brought by consumers of allegedly affected produce. Because we sell
produce, we may have legal responsibility arising from the sale. While we are
insured for up to $75 million for product liability claims, settlement of class
action claims is often costly, and we cannot assure you that our liability
coverage will be adequate and will continue to be available. If we have to
recall produce, we may be required to bear the cost of repurchasing,
transporting and destroying any allegedly contaminated product, which our
insurance does not cover. Any recall or allegation of contamination could affect
our reputation, particularly of our produce brand: The Fresh 1(R). Loss due to
spoilage (including the need for disposal) is also a routine part of the
sourcing business.

     Our business depends upon compliance with numerous government regulations.
We are licensed by the Department of Transportation as a broker authorized to
arrange for the transportation of general commodities by motor vehicle. We must
comply with certain insurance and surety bond requirements to act in this
capacity. We are also licensed by the Federal Maritime Commission as an ocean
freight forwarder, which requires us to maintain a non-vessel operating common
carrier bond. We are also licensed by the United States Customs Service of the
Department of the Treasury. We source fresh produce under a license issued by
the Department of Agriculture. Our failure to comply with the laws and
regulations applicable to entities holding these licenses could materially and
adversely affect our results of operations or financial condition. Legislative
or regulatory changes can affect the economics of the transportation industry by
requiring changes in operating practices or influencing the demand for, and the
cost of providing, transportation services.

     We increasingly derive a significant portion of our gross revenues from our
largest clients. The sudden loss of a number of our major clients could
materially and adversely affect our operating results.

     Our change to public company status may have a detrimental effect on our
corporate culture. Prior to our initial public offering, more than 700 employees
owned substantially all of our outstanding common stock. Consequently, our
employees considered themselves the owners of C.H. Robinson. As a result of our
establishing a public market for the trading of shares of our common stock, a
larger portion of common stock may rest in the hands of the general public, and
our employee stockholders will have significant liquid assets. This change in
structure and liquidity may adversely affect employee motivation. We had also
issued restricted stock as an incentive, and employees owning common stock
before going public profited from the growth in the book value of the common
stock. We have replaced our previous stock program with new stock-based
programs, but we cannot predict whether the new plans will be perceived as being
a less valuable form of compensation. If we find that we must initiate new
incentive programs to improve employee performance in the future, our results of
operations could be adversely affected.

     We may be unable to identify or complete suitable acquisitions and
investments. We may acquire or make investments in complementary businesses,
products, services or technologies. We cannot assure you that we will be able to
identify suitable acquisitions or


investment candidates. Even if we identify suitable candidates, we cannot assure
you that we will be able to make acquisitions or investments on commercially
acceptable terms, if at all. If we acquire a company, we may have difficulty
assimilating its businesses, products, services, technologies and personnel into
our operations. These difficulties could disrupt our ongoing business, distract
our management and workforce, increase our expenses and adversely affect our
results of operations. In addition, we may incur debt or be required to issue
equity securities to pay for future acquisitions or investments. The issuance of
any equity securities could be dilutive to our stockholders.