M.S. Carriers, Inc. Anticipates a Shortfall in EPS
                  For The First Quarter 2001

  Contact: Joe Barrow (901) 344-4400 or
           Phil Lutey (901) 344-4440

  Memphis, TN (March 13, 2001)  -- M.S. Carriers, Inc. (NASDAQ
  : MSCA), an irregular route truckload carrier, announced
  that it expects to fall significantly short of the consensus
  earnings estimate for the first quarter of 2001.  The
  Company believes the consensus estimate to be $0.19 per
  share for the quarter ending March 31, 2001.

  Mike Starnes, Chairman and CEO of M.S. Carriers said, "We
  are experiencing the same economic slowdown that is
  impacting the truckload industry.  Softness in the freight
  markets which we serve is limiting our revenue per unit
  through lower equipment utilization and a greater percentage
  of non-revenue miles.

  On the positive side, M.S. Carriers trucks are fully staffed
  as we are having success recruiting drivers.  We are also
  progressing with the planned merger with Swift
  Transportation that is expected to close in the second
  quarter of 2001."

  This press release contains certain forward-looking
  statements within the meaning of the Private Securities
  Litigation Reform Act of 1995.This information is in
  accordance with the company's current expectations and is
  subject to certain risks and uncertainties that could cause
  actual results to differ materially from those set forth in
  the forward-looking statements. With respect to M.S.
  Carriers' financial results these uncertainties include,
  without limitation, the following: M.S. Carriers will have
  reasonable success recruiting and retaining experienced
  drivers and owner operators at the company's current
  compensation level; demand and pricing for the markets
  served by M.S. Carriers will remain at current levels; fuel
  will remain available and without rapid price fluctuations;
  and the company's accident experience will remain at
  historical levels. With respect to the proposed merger
  transaction with Swift these uncertainties include, without
  limitation, the following: the inability to obtain
  governmental approvals of the merger on the proposed terms
  and schedule; the failure of M.S. Carriers and Swift
  stockholders to approve the merger; the risk that the
  businesses will not be integrated successfully; the risk
  that the revenue synergies and costs savings anticipated
  from the merger may not be fully realized or may take longer
  to realize than expected; the risk that additional insurance
  and claims reserves and expenses may be incurred;
  disruptions from the merger making it more difficult to
  maintain relationships with customers, employees or
  suppliers; and increased competition and its effects on
  pricing , spending, third-party relationships and revenues.
  Additional factors that could cause results to differ
  materially from those described in the forward-looking
  statements can be found in the 1999 Annual Report on Form
  10-K of M.S. Carriers with the Securities Exchange
  Commission.

  This press release is being filed with the SEC pursuant to
  Rule 425 under the Securities Act of 1933.