EXHIBIT 99

                                                                    NEWS RELEASE

Contact: Richard H. Roberts
         General Counsel and
         Senior Vice President
         (423) 636-7000

FORWARD AIR CORPORATION ANNOUNCES ADOPTION OF SHAREHOLDER RIGHTS PLAN

         GREENEVILLE, TENNESSEE (May 20, 1999) - Forward Air Corporation
(NASDAQ:FWRD) announced today that its Board of Directors has adopted a
Shareholder Rights Plan. Holders of Forward Air Common Stock as of June 1, 1999
will receive preferred stock purchase rights as a dividend at the rate of one
Right for each share of Common Stock. The Rights will expire on May 18, 2009.

         The Shareholder Rights Plan is designed to deter certain types of
unfair takeover tactics and to prevent an acquirer from gaining control of the
Company without offering a fair price to all of the Company's shareholders. The
Plan is not intended to prevent a fully financed and adequate offer for the
Company. The Shareholder Rights Plan was not adopted in response to any specific
attempt to acquire control of the Company and the Company is not aware of any
such effort.

         Each Right will initially entitle its holder to purchase one
one-hundredth of a share of a new Series A Junior Preferred Stock at an exercise
price of $110 per Right, subject to adjustment. Because the Rights will not
initially be exercisable and will trade with the Common Stock, separate Right
certificates will not be provided to shareholders. Each Right will become
exercisable only upon a person's or group's, with certain exceptions as provided
in the Shareholder Rights Agreement, acquisition of, or commencement of a tender
or exchange offer for, 15% or more of the Common Stock of the Company. Rights
will also become exercisable in the event of certain mergers or asset sales
involving more than 50% of the Company's assets or earning power.

         Upon becoming exercisable, each Right will allow the holder (other than
the person or group whose action has triggered the exercisability of the
Rights), under alternative circumstances, to buy either securities of Forward
Air or securities of the acquiring company (depending on the form of the
transaction) having a value of twice the exercise price of the Rights. The
Rights generally are redeemable by the Board of Directors at $0.001 per Right
for a period of ten business days following the time the Rights become
exercisable. The Rights also are generally exchangeable by the Board of
Directors at an exchange ratio of one share of Common Stock per Right at any
time after the Rights have become exercisable and prior to the acquisition by
any person or group of 50% or more of the Common Stock of the Company.

         Details of the Shareholder Rights Plan and Rights are summarized in a
letter that will be mailed to all Forward Air shareholders.




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