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CNF ELECTS NEW CHAIRMAN

PALO ALTO - The Board of Directors of CNF has elected Dr. W. Keith Kennedy, Jr. as its new Chairman to succeed Donald E. Moffitt, 71, has decided to retire.

Kennedy, who holds his undergraduate and undergraduate degrees from Cornell, has served as vice chairman of CNF since April of 2002 and as a member of CNF's board since 1996. He retired as President and Chief Executive Officer of Watkins-Johnson Company in January, 2000, a position he had held since 1988. Kennedy joined Watkins-Johnson in 1968 and served as a Division Manager, Group Vice President and Vice President of Planning Coordination and Shareowner Relations prior to becoming its President.

Moffitt has served as chairman of CNF since 1995 after serving as President and Chief Executive Officer of the company from 1991 to 1995.

He completes a distinguished career that began in 1955 when he joined Consolidated Freightways Corporation, a former subsidiary of CNF, as an accountant. After serving in many management roles in the finance and treasury departments, he was elected Vice Chairman of CNF's board in 1986. He retired as an employee and as Vice Chairman in 1988, returning to the company in 1990 as Executive Vice President - Finance and Chief Financial Officer at a time of fiscal crisis for the company.

GREG SEIBLY JOINS U.S. BANK

LOS ANGELES - J. Gregory "Greg" Seibly has joined U.S. Bank as Executive Vice President and will be responsible for the organization's commercial banking division in California.

U.S. Bank's commercial banking division in California includes operations in Greater Los Angeles, San Diego, Northern California and Orange County, all of which will report to Seibly.

Seibly previously was Executive Vice President and Division Manager of Wells Fargo Bank, N.A.'s Greater Los Angeles/Nevada division of commercial banking. Before that he was with Bank of America, N.A. in Los Angeles, where he served as Managing Director and head of healthcare credit products in Los Angeles. Seibly's banking career also includes positions with ABN Amro Bank in Pennsylvania and PNC Bank in California, Pennsylvania and Texas.

A graduate of Indiana University in Bloomington, Indiana, Seibly is very active in the Los Angles community. He is a member of the board of directors of The Weingart Center, Special Olympics of Southern California, Los Angeles Economic Development Corp.,  the Kayne-Eras Center, and is a member of the executive committee of the Central City Association.

Seibly will have offices in the newly named U.S. Bank Tower (formerly Library Tower) located in the central business district in Los Angeles. U.S. Bank has 217 full-service banking offices in California.

KURLAND TO LEAVE GENITROPE CORP.

REDWOOD CITY - The Genitope Corporation has announced that Fred Kurland is resigning as Chief Financial Officer of the company to join Corcept Therapeutics, a privately held biopharmaceutical company.

Genitope also said that, effective immediately, Dan Denney, Jr., Ph.D., Genitope's Chairman and CEO has been appointed acting chief financial officer. The Board of Directors has begun a formal search for a replacement for Kurland.

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