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Two analysts, one money manager and top management from eighteen sector firms examine the performing investing in small cap stocks sector in this special 77-page Investing in Small Cap Stocks issue from The Wall Street Transcript, available at (212/952-7433) or http://www.twst.com/info/info540.htm

TWST: Could we begin with a brief overview of the history and evolution of the company?

Mr. Tweed: Landair Transport is a company that originated as a contract carrier back in the early 1980s for a number of the airfreight companies - Flying Tigers, Burlington, CF, and Emery, to name a few. Mostly what we did then was contractual dedicated services, as we do today; however, we also operate a truckload division and a non-asset based logistics division. As the company grew, a separate entity called Forward Air, was spun-off and listed under the NASDAQ as FWRD. Landair Transport, Inc. (Nasdaq:LAND) is the remaining portion of the original company.

TWST: How do your segments break down as far as revenue stream?

Mr. Tweed: Today about 50% of our business is in the general commodities truckload, another 45% in dedicated contract carriage, and the remaining 5% in non-asset based logistics business.

TWST: For the potential long-term investor who is taking a look at your financial report, what should be focused on primarily?

Mr. Tweed: Cash flow, balance sheet, the difference between Landair Transport and our competition regarding the type of service we provide: we will grow revenue at a faster pace than most other carriers without making capital investments. I believe all of this will impact our operating ratio as we go forward. Basically, the potential exists due to the overall cash flow and earnings multiples. We very well believe that in the next three years Landair Transport will generate earnings somewhere in the neighborhood of $1.50-$1.75, based on the 5 million shares that are outstanding today. Last year we produced $1.10, this year we project $1.20; in subsequent years, you should see a $0.10-$0.15 share increase each year. Our analysis projects that two to three years down the road, if we remain on course, a $15 stock today will be valued at $30. That would be a pretty good return on investment.

TWST: What have been some of the key factors that have affected your operating margin of late?

Mr. Tweed: Discipline, house cleaning, becoming leaner and meaner. We retrenched a little bit. If you take a look at our earnings, you would notice they are up this year even though our revenue is down. We achieved this by returning to the core basics and the disciplines of those early days. We are focused on our growth plan and understand we cannot be everything for everyone, but are committed to performing an exceptional job with the services we provide.

TWST: Do you get a sense that folks in the investment community are getting a pretty clear picture of that? Is that being reflected in your stock valuation?

Mr. Tweed: No. Part of that is our fault. When I returned to Landair Transport last year, I had one focus in mind — to turn this company around. I said to everyone, “I’m going underground for two years. You are welcome to join me.” Basically, we went from a 106% operating ratio to a 91% OR in less than 12 months. Excluding the second quarter of last year, we were on a pace of about a 90% OR. We purposely chose not to publicize the stock until we got our house in order. As we approach the market, we are in the process of defining our strategy regarding how to increase our liquidity in order to make Landair Transport stock more attractive to investors.

This special issue includes:

1) Investing in Small-Cap Stocks - Carolie Burroughs, Portfolio Manager/Analyst at Aeltus Investment Management, examines portfolio management strategies in this timely and deeply informative 3,300-word interview from The Wall Street Transcript.

2) Investing in Small Cap Stocks - In an in-depth (2,500 words) Analyst Interview, Peter G. Mintz, co-Founder and Senior Analyst at Barrow Street Research, examines the outlook for the sector and share specific stock recommendations.

3) Investing in Small Cap Stocks - In an in-depth (2,000 words) Analyst Interview, Stewart Kalter, Director of Corporate Finance and Research at Andrew Alexander Wise & Company, Inc., examines the outlook for the sector and share specific stock recommendations.

4) CEO interviews (average 2,500 words). Top management of eighteen sector firms examine the outlook for their firm and the sector.