Jerry Moyes, Chief Executive Officer and Chairman of the Board of Swift Transportation Company, Inc., Settles with SEC

Business Wire, Sept 21, 2005

PHOENIX -- Jerry Moyes, Chief Executive Officer and Chairman of the Board of Swift Transportation Company, Inc. (Swift), announced today that he has settled the matter initiated by the United States Securities & Exchange Commission. In conjunction with the settlement, the SEC is dropping its investigation of Swift without penalty to the Company.

Mr. Moyes stated, "I am gratified that the SEC matter has been resolved and look forward to continuing my focus on building a strong future for Swift." E[acute accent]The SEC matter arose out of publicly reported purchases by Mr. Moyes of Swift common stock in May 2004, which were timely disclosed by Swift to the SEC. When concerns arose about the purchases, and prior to any SEC action, Mr. Moyes voluntarily agreed to put the paper profits of $622,130.80 from his purchases into a trust account controlled by Swift's Independent Directors. Pursuant to the settlement with the SEC, Mr. Moyes will disgorge the paper profits plus interest; pay a civil penalty in the amount of the paper profits; and agree to the entry of a decree permanently enjoining him from violating securities laws. In reaching a settlement with the SEC, Mr. Moyes neither admitted nor denied the SEC's allegations. E[acute accent]Jerry Moyes is the founder of Swift Transportation Co., Inc., a truckload carrier that began operations in 1966 transporting imported steel through the ports of Los Angeles to Arizona and Arizona cotton for export back through to Southern California. Headquartered in Phoenix, Swift trucking subsidiary operates over 18,000 trucks, the largest fleet of truckload carrier equipment in the country, with regional operations throughout the continental United States. The principal types of freight transported by Swift include retail and discount department store merchandise, manufactured goods, paper products, non-perishable food, beverages and beverage containers and building materials. For more information on the company visit www.swifttrans.com.