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MORRISON KNUDSEN UNVEILS FIRST PASSENGER RAIL CAR BUILT AT CHICAGO'S HISTORIC PULLMAN PLANT SINCE WORLD WAR II

 CHICAGO, April 26 /PRNewswire/ -- The Morrison Knudsen Corporation today unveiled the first car manufactured by the company to fill the largest commuter rail contract in United States history. Illinois Governor James Edgar and Chicago Mayor Richard Daley participated in a ceremony at which MK Chairman William J. Agee presented the car to Jeffrey R. Ladd, chairman of the Board of Metra, the nation's premier commuter railroad.
 The electric Highliner -- the first produced under a 313-car, $379 million contract -- was the first passenger rail car produced since World War II at Chicago's historic Pullman Standard manufacturing facility. Morrison Knudsen is the only American-owned manufacturer of passenger rail cars, and is leading a revival of the domestic industry.
 "America is back in the passenger rail business and Chicago -- the cradle of our rail industry and the hub of our transportation system -- is leading the way," said Mr. Agee. "As we can see here today, the renaissance of the nation's rail industry is not only improving our transportation for millions of Americans, it's also providing jobs, economic growth, and environmental benefits."
 "The people of Illinois can be proud that what we've done here will serve as a model for the rest of the country," said Mr. Ladd. "We brought public and private resources together in a partnership that has achieved local, state, regional, and ultimately, national transportation priorities without relying on scarce federal dollars."
 Jobs and Other Economic Benefits to Chicago,
 Northeast Illinois
 The Metra project was financed entirely through a $1 billion state revenue bond issue. It immediately created 140 jobs and total employment could reach 460 at peak production, including car shell manufacturing. The company estimates that the project will create an additional 2,000 jobs for local businesses.
 Working with Metra, Morrison Knudsen has taken steps to maximize the economic benefits to the Chicago area, committing over $100 million in local content work for subcontractors, vendors and other enterprises. The company renovated the facility at a cost of $3.5 million using local union contractors and suppliers and has identified over 120 area suppliers as potential participants in the project.
 Additional work at MK's Pullman facility includes the car shells for a $100 million contract to manufacture 50 rail cars for Amtrak. When the first prototype is produced at the end of this year, the plant will become the only manufacturer of stainless steel car shells in the country, employing sophisticated technology that has been available primarily in Canada and Japan until now.
 Morrison Knudsen Leading Rapid Growth of
 America's Passenger Rail Industry
 Since Mr. Agee became chairman in 1988 and executed his strategic vision of focusing on the rail business, the company has won rail manufacturing contracts exceeding $1 billion. Among these are major manufacturing projects for Amtrak, the Chicago Transit Authority, the California Department of Transportation, Metra, Metro North in New York and the San Francisco Bay Area Rapid Transit system.
 Including options, MK now has orders or potential orders for more than 1,300 cars. Morrison Knudsen's emergence at the forefront of domestic passenger car manufacturing coincides with rapid growth in the United States rail industry. Since 1980, the nation's transit system has added 148 system miles (for a total of 1,039 miles today), 256,000 daily passengers and 88 million annual passengers. In addition, most rail systems in operation are planning expansion with strong public support for bonds, taxes and appropriations earmarked for rail projects.
 Other Morrison Knudsen Rail Projects
 In other rail-related business, Morrison Knudsen heads the Texas TGV, formerly known as the Texas High Speed Rail Corporation, a consortium that will build and operate a 200 mph train system linking Houston, Dallas and San Antonio.
 In addition, a Morrison Knudsen-led joint venture will design and construct for Amtrak a high speed rail electrification system between New Haven, Connecticut, and Boston. The project will complete electrification of the "Northeast Corridor," the intercity rail link between Washington, DC and Boston.
 Morrison Knudsen Corporation is an international company serving the environmental, industrial process, power and transportation markets with complete development, design/engineering, construction, operating and financial services.
 -0- 4/26/93
 /CONTACT: Brent Brandon, 208-386-6611, or Gae Peyron, 208-386-5950, both of Morrison Knudsen Corporation/
 (MRN)


CO: Morrison Knudson Corporation ST: Illinois IN: TRN SU:

LR-OS -- NY001 -- 0645 04/26/93 11:39 EDT
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Date:Apr 26, 1993
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