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Forward Air to Raise Owner Operator Base Rates

(Greeneville, TN) -  Forward Air Corporation (NASDAQ: FWRD) announced that its motor carrier subsidiary, FAF, Inc., is raising owner-operator pay. Effective January 4, 2015, the contractual base rate for Forward Air owner-operators will increase by $0.10 per mile for team truck LTL and TLX service.  Additionally, rates for solo TLX truck service will increase by $0.06 per mile.

After the increased rates go into effect on January 4, 2015, Forward Air owner-operators will receive $1.08 loaded and $0.98 empty for LTL team truck service, and $0.98 per mile loaded and empty for LTL solo truck service. The rate increase will result in owner-operators receiving $1.15 per mile loaded and $0.98 per mile empty for TLX team truck service, and $1.06 per mile loaded and $0.98 empty for TLX solo truck service.

All Forward Air owner operators will be eligible for a $.02 rate increase for all miles driven by drivers who have their hazmat endorsement, and an additional $.02 per mile rate increase for all miles driven in trucks that are no older than 5 years old.

“Since we began operations, we have strived to provide our owner operators with excellent support and the best opportunity to succeed in the industry,” said Bruce Campbell, Forward Air’s CEO. “Our new rate structure ensures that we will maintain this position for many years to come.”

About Forward Air Corporation

Forward Air Corporation operates three business segments, Forward Air, Inc., Forward Air Solutions, Inc. and Total Quality, Inc.

Forward Air, Inc. is a leading provider of time-definite surface transportation and related logistics services to the North American expedited ground freight market. We offer our customers local pick-up and delivery (Forward Air CompleteSM) and scheduled surface transportation of cargo as a cost-effective, reliable alternative to air transportation. We transport cargo that must be delivered at a specific time but is relatively less time-sensitive than traditional air freight or when air transportation is not economical. We also offer our customers an array of logistics and other services including: expedited full truckload (TLX); intermodal/drayage (Central States Trucking Co.); dedicated fleets; warehousing; customs brokerage; and shipment consolidation, deconsolidation and handling.

Forward Air Solutions, Inc. is a provider of pool distribution services. Pool distribution involves the consolidation and shipment of several smaller less-than-truckload shipments to a common area or region. Once at the regional destination, the loads are deconsolidated, then grouped with other shipments with common delivery points, and delivered in a very precise, time-sensitive manner. Our pool distribution network consists of 24 terminals within the mid-Atlantic, Southeast, Midwest and Southwestern United States.

Total Quality, Inc. utilizes industry-leading temperature-controlled equipment, 24-hour monitoring and tracking technology and layered security features to provide our customers with the highest level of service. In addition to our core pharmaceutical services, we provide brokerage transportation services. Headquartered in central Michigan, we service the United States, Canada and Mexico.
 
For more information, call (800) 347-0071, or visit www.ForwardAir.com.