Fitch Teleconference: US Transit, Thurs., 06/19 2:00 PM EDT.

Business Editors

NEW YORK--(BUSINESS WIRE)--June 16, 2003

Fitch Ratings will hold a teleconference on Thursday, June 19, at 2:00 p.m. Eastern Daylight Time (EDT) to discuss the agency's new U.S. public transit report. Fitch analysts Scott Trommer, William Streeter and Cherian George will lead the call.

Fitch expects U.S. transit management to pursue a number of initiatives to maintain fiscal stability and service competitiveness in the face of rising financial pressures resulting from an economic downturn and funding constraints.

Domestic participants should call [phone] and international participants should dial [phone] five minutes prior to the 2:00 p.m. EDT start time and give the title of the call, 'U.S. Public Transit'. To ensure that sufficient telephone lines are available for all companies, we would appreciate you using internal conferencing capabilities.

Interested parties who are not available for the teleconference will be able to hear a replay of the call starting on Thursday, June 19 at 5:00 p.m. EDT until Wednesday, June 25 at 6:00 p.m. EDT. Domestic listeners should dial [phone] and international listeners should dial [phone] and use the access code '1306166'.

Interested parties can e-mail [e-mail].

Additionally, a replay of the teleconference will be archived on the Fitch Ratings web site for three months. Interested parties can find the appropriate link at the 'Company Events & Online Media' link, which is located under the heading 'About Fitch' at 'www.fitchratings.com'.

'Running for the Train: The Path Ahead for U.S. Transit' is available on the Fitch web site at www.fitchratings.com. The report can be found by linking to the 'U.S. Public Finance' sector and clicking on 'Special Reports.'