Exhibit 99.1



                                          Contact:  Mike Brown
                                                  360-448-4255



             CONSOLIDATED FREIGHTWAYS CORPORATION
               RECEIVES NOTIFICATION FROM NASDAQ
              OF ADDITIONAL LISTING DEFICIENCIES



     VANCOUVER, Wash., September 12, 2002 - Consolidated
Freightways Corporation (NASDAQ: CFWEQ) said today that it has
been advised by the Nasdaq Listing Qualifications Department
that, based on its balance sheet reported in the Form 10-Q for
the period ended June 30, 2002, the company fails to comply
with the net tangible assets and stockholders equity
requirements for continued listing on The Nasdaq Stock Market.
The listings department indicated that this issue, as well as
the company's recent bankruptcy filing, would be considered at
the company's delisting hearing on September 20, 2002.  The
hearing was initially scheduled in connection with the
company's failure to timely file its Form 10-Q for the period
ended June 30, 2002, which has since been filed.
     The company anticipates that after Nasdaq concludes its
review, it will determine that the company has not adequately
addressed these issues and the company's securities will be
delisted.
     The company said it does not anticipate creditor claims
to be fully satisfied under its Chapter 11 proceedings, and
that the company's stockholders will likely receive no value
for their common stock.
     On September 4, 2002, the company's trading symbol was
amended to "CFWEQ" to denote both the company's filing
delinquency and the bankruptcy filing.
     Consolidated Freightways, which is headquartered in
Vancouver, Wash., filed for bankruptcy protection September 3,
2002 and plans to liquidate the business in an orderly manner.
Its CF AirFreight, Canadian Freightways Ltd. and Grupo
Consolidated Freightways, S.A. de RL subsidiaries continue to
operate as usual.  Additional information about the company's
Chapter 11 filings can be obtained online at
www.cacb.uscourts.gov or at the company website www.cfwy.com.
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     Certain statements in this press release are forward-
looking statements that are subject to material risks and
uncertainties. Investors are cautioned that any such forward-
looking statements are not guarantees of future performance or
results and involve risks and uncertainties, and that actual
results or developments may differ materially from those
expressed or implied in the forward-looking statements as a
result of various factors that are discussed in the company's
filings with the Securities and Exchange Commission. These
risks and uncertainties include, but are not limited to,
uncertainties relating to general economic and business
conditions, the availability and cost of capital and matters
relating to or in connection with the bankruptcy filing of the
company and some of its subsidiaries.  These risks and
uncertainties also include matters arising out of the
company's delay in filing with the Securities and Exchange
Commission its Form 10-Q for the quarter ended June 30, 2002
and the announced delisting of the company's common stock by
Nasdaq.  Additional information regarding risks, uncertainties
and other factors that may affect the business and financial
results of the company can be found in the company's filings
with the Securities and Exchange Commission.  The company does
not undertake to update any forward-looking statements in this
press release or with respect to matters described herein.

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