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(erielack) STB Decision from NS Webpage (fwd)

Norfolk Southern Responds to STB Decision

NORFOLK, VA -- "For a nation that depends on safe, efficient, reliable
rail transportation service, June 8 will be remembered as a watershed
day," said David R.
Goode, chairman, president and chief executive officer of Norfolk Southern
Corporation (NYSE: NSC). 

Responding to today's Surface Transportation Board (STB) approval of the
Norfolk Southern and CSX Corp. joint application to operate the routes and
assets of Conrail
Inc., Goode added, "We look forward to returning true rail competition to
the eastern U.S. and to making the benefits of the transaction available
to the customers and
communities we serve." 

Goode thanked rail users, employees, communities, shareholders, other
railroads and government officials for supporting the transaction during
the approval process,
which began when the application was filed June 23, 1997. "You sent a
clear message that you support economic growth and competition," he said. 

Goode described the overall thorough attention given the application by
the Board and its staff as "appropriate and highly commendable." Noting
that Norfolk Southern
has reached agreements with a number of parties who have expressed
concerns about the transaction, Goode praised the STB's practice of
encouraging privately
negotiated agreements rather than additional regulation. "The Board's
direction helped assure that the review process was thorough and fair,
resulting in mutually
beneficial arrangements for the railroads and their constituents," he
said. 

Goode also observed that Conrail employees have set new company safety
records, maintained and improved customer service, and achieved solid
financial results over
the last year, despite challenging circumstances. "Today's STB decision
paves the way to add their many talents to the Thoroughbred team," Norfolk
Southern's
chairman observed. "We will add strength upon strength." 

The STB is expected to publish its written decision on the application
July 23. The decision will become effective August 22, when Norfolk
Southern and CSX will be
allowed to exercise control over their respective Conrail routes and
assets. Norfolk Southern has some 120 implementation teams working to
ensure a safe, smooth
integration process. 

Norfolk Southern is a Virginia-based holding company with headquarters in
Norfolk. It owns a major freight railroad, Norfolk Southern Railway
Company, which
operates approximately 14,400 miles of railroad in 20 states, primarily in
the Southeast and Midwest and the Province of Ontario. 


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