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CSX

Norfolk Southern’s Goode Urges an End to Conrail Oversight

NORFOLK, Va. – Noting “the Conrail transaction has been a success,” Norfolk Southern Chairman, President and Chief Executive Officer David R. Goode today urged the Surface Transportation Board not to extend its formal regulatory oversight period. “The history of the past five years shows how the transaction has lived up to the board’s expectations,” Goode testified during a hearing in Washington. “Perhaps most importantly, the transaction resulted in two competitively balanced rail systems serving the eastern United States. In addition, of course, the transaction has created vigorous new rail-to-rail competition throughout the former Conrail territory,” benefiting shippers and communities. “No

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CSX

CSXT and NSR File Registration Statements with SEC to Exchange Debt Securities for Conrail’s Debt Securities

WASHINGTON – CSX Transportation, Inc. (CSXT) and Norfolk Southern Railway Company (NSR) on April 23 said they have taken a key step in establishing direct ownership and control of the two Consolidated Rail Corporation (Conrail) subsidiaries that contain the Conrail assets they currently separately operate. CSXT and NSR each have filed a Registration Statement on Form S-4 with the Securities and Exchange Commission (SEC) that describes an offer to exchange new unsecured debt securities of CSXT and NSR and cash for unsecured debt securities of Conrail. The filings initiate the final stage in implementing the restructuring of Conrail’s unsecured indebtedness

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Norfolk Southern

NS to Spend $810 Million in 2004

NORFOLK, Va. – Norfolk Southern Corporation plans to spend $810 million in 2004 for capital improvements to its railroad operations and subsidiaries. “Our capital spending budget reflects our commitment to providing the highest levels of service and safety for our customers and to utilizing our equipment and facilities efficiently,” said Norfolk Southern Chairman, President and CEO David R. Goode. The anticipated spending includes $517 million for roadway projects and $258 million for equipment. In roadway improvements, the largest expenditure will be $384 million for rail, crosstie, ballast and bridge programs. In addition, $29 million is provided for communications, signal and

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Amtrak

Isabel Slows Trains

WASHINGTON — Rail service along the eastern coast was slowed in September because of Hurricane Isabel. Amtrak, CSX, Norfolk Southern and other railroads between North Carolina and New York reported interruptions to their service due to the hurricane. Norfolk Southern implemented its contingency plan, taking extra safety precautions to assure the safety of employees and prevent damage to facilities, equipment, and shipments, the railroad said in a news release. This included moving equipment and shipments that have not yet placed within customer facilities, out of coastal and low lying areas prone to flooding. Likewise, CSX ceased some operations between Virginia