EXHIBIT 1
AGREEMENT dated as of February 5, 1998, by and among Xxxxxx X.
Xxxxxxxx ("Yacktman"), Yacktman Asset Management Co., an Illinois
corporation ("Yacktman Asset Management") and The Yacktman Funds, Inc., a
Maryland corporation (the "Yacktman Funds").
WHEREAS, in accordance with Rule 13d-1(f) of the Securities
Exchange Act of 1934 (the "Act"), only one such statement need be filed
whenever two or more persons are required to file a statement pursuant to
Section 13(d) of the Act with respect to the same securities, provided
that said persons agree in writing that such statement is filed on behalf
of each of them.
NOW, THEREFORE, in consideration of the premises and mutual
agreements herein contained, the parties hereto agree as follows:
Each of Yacktman, Yacktman Asset Management and The Yacktman
Funds hereby agree, in accordance with Rule 13d-1(f) under the Act, to
file one Statement on Schedule 13G relating to their ownership of the
Common Stock of Bandag, Incorporated and hereby further agree that said
Statement shall be filed on behalf of each of Yacktman, Yacktman Asset
Management and The Yacktman Funds. Nothing herein shall be deemed to be
an admission that the parties hereto, or any of them, are members of a
"group" (within the meaning of Section 13(d) of the Act and the rules
promulgated thereunder) with respect to any securities of Bandag,
Incorporated.
IN WITNESS WHEREOF, the parties have executed this Agreement as
of the date first written above.
/s/ Xxxxxx X. Xxxxxxxx
Xxxxxx X. Xxxxxxxx
THE YACKTMAN FUNDS, INC.
By: /s/ Xxxxxx X. Xxxxxxxx
Xxxxxx X. Xxxxxxxx
President
YACKTMAN ASSET MANAGEMENT CO.
By: /s/ Xxxxxx X. Xxxxxxxx
Xxxxxx X. Xxxxxxxx
President
