Norfolk Southern CEO Notes Positive Momentum in 2009 Annual Report Message to Stockholders

NORFOLK, Va. — In his recent message to stockholders in the 2009 Annual Report, Norfolk Southern Corporation CEO Wick Moorman says the company “withstood the economic shocks of 2009 to produce good economic results, and I go into 2010 with a sense of optimism for our future prospects.”

Compared to a year ago, Moorman said, “we have a much clearer picture of our own economic outlook and can act accordingly.” He cited the company’s strides in safety and service, along with disciplined cost control, continued investment in key projects, and aggressive pursuit of new business opportunities, as important indicators.

“Even in the face of the recession,” Moorman said, “we made significant gains in each of these areas, and these same strategies will drive our continuing success in 2010 and beyond. While the short-term economic outlook remains somewhat uncertain, the longer-term prospects for Norfolk Southern and the railroad industry remain very bright.

“We go into the new year with positive momentum. Our traffic levels increased sequentially in both the third and fourth quarters of 2009, and we’re confident many of the cost efficiencies we achieved in 2009 will remain in place as we see rail traffic continue to increase,” Moorman said.