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Canadian National

CN: Disappointed in Court Decision on EJ&E Grade Separation Projects

CHICAGO — CN expressed disappointment with the decision of the U.S. Court of Appeals for the District of Columbia Circuit in Washington, D.C. denying the company’s request to reverse the Surface Transportation Board’s (STB) order requiring the railroad pay for the majority of the costs associated with two highway grade separation projects. In its Dec. 24, 2008 decision approving CN’s acquisition of the principal portion of the Elgin, Joliet and Eastern Railway Company (EJ&E), the STB ordered CN to pay 67 percent of the cost for a grade separation at Ogden Avenue in Aurora, Ill., and 78.5 percent of a separation at Lincoln Highway in Lynwood,

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Canadian National

CN, CAW Ratify New Agreement

MONTREAL — CN said that members of the Canadian Auto Workers union have ratified four-year collective agreements with the company and CNTL, a subsidiary of CN. The agreements, retroactive to Jan. 1, 2011, provide wage and benefit increases to CAW members. In addition, the settlements contain progressive provisions to help CN retain and attract skilled employees critical to its workforce in the years ahead. The CAW represents approximately 3,400 workers in three distinct bargaining units at CN – mechanical, clerical/intermodal and excavator operators; and one bargaining unit covering approximately 575 owner-operator truck drivers at CNTL. CN and CNTL reached tentative agreements

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Canadian National

CN Announces 2011 Capital Investments to Maintain, Improve Network

MONTREAL — CN said it plans to invest C$1.7 billion in 2011 to maintain a safe and fluid railway network, to grow the business efficiently and to continue to provide customers with a high level of service. Claude Mongeau, president and chief executive officer, said: “CN is focused on running a safe, sustainable railway and growing our business profitably at low incremental cost. We are pursuing this agenda through infrastructure investments, strengthening ties with our customers, and innovative service improvements. Our service innovations include ‘first-mile/last-mile’ initiatives that respond to customer needs at origin and destination, and supply chain collaboration that emphasizes

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Canadian National

CN Announces Plan to Buy Back Shares

MONTREAL — CN said it intends to purchase for cancellation up to three million of its common shares pursuant to private agreements between CN and an arm’s-length third-party seller. The purchases will form part of CN’s 16.5-million share-repurchase program announced on Jan. 25, 2011. Such purchases will be made pursuant to an issuer bid exemption order issued by the Ontario Securities Commission and will take place before the end of March 2011. The price that CN will pay for any common shares purchased by it under such agreements will be negotiated by CN and the seller and will be at a discount