DEADLINE EXTENDED TO JANUARY 6 FOR YRCW MODIFICATION VOTE

Members Have More Time Due To Number of Requests, Change In Company Plan

Due to a high volume of ballot requests from affected members, the company’s change in plans to gain financial stability which eliminates a December 31, 2008 deadline, holiday mail volume and bad weather that shut airports, the Teamsters Union is extending voting on the YRCW modifications until Tuesday, January 6. Ballots will be picked up at the post office at 10 a.m. on January 6 and will be counted later that day.

The original timeline of December 31, 2008 agreed to jointly during negotiations, was extended after YRCW announced on December 24 it was cancelling its tender offer for certain outstanding bonds and is renegotiating its credit facilities. The company will not have to spend $150 million to purchase about $310 million worth of senior notes and will instead renegotiate the terms of its debt with its banks. The union believes this path offers a move viable long-term recovery plan.

YRCW said it was pursuing the new strategy in part because the Teamster membership had not yet ratified the contract modifications. The union was proceeding with ratification on the schedule that was jointly agreed to and dictated by the now-aborted tender offer. Since the company’s recent decision provides more flexibility, the union is extending the balloting deadline. The Teamsters Union is committed to ensuring that all affected members have the opportunity to vote and is encouraging members to participate in this decision that will affect their livelihoods and the livelihoods of their families.