Michael R. Haverty Replaces Landon H. Rowland as KCSI Chairman.

Business Editors

KANSAS CITY, Mo.--(BUSINESS WIRE)--Dec. 12, 2000

Kansas City Southern Industries (KCSI) announced today that Michael R. Haverty has been elected Chairman of the Board of Directors effective January 1, 2001.

He will succeed Landon H. Rowland, who has resigned as Chairman but remains on the Board. Mr. Haverty will retain his current titles of Chief Executive Officer and President.

Mr. Rowland became Chairman in 1997. He also held the positions of KCSI President and Chief Executive Officer until the KCSI spun off its financial services segment, Stilwell Financial, on July 12, 2000. Mr. Rowland currently serves as Chairman, President and Chief Executive Officer of Stilwell Financial.

Mr. Rowland stated that it was time that he devoted the majority of his efforts to the business of Stilwell Financial, and that "Mike Haverty, with his vast experience in railroad operations and management, and as KCSI's head of the NAFTA Railway system, is an ideal leader for KCSI as a stand-alone transportation company."

Mr. Haverty joined The Kansas City Southern Railway Company (KCSR) in 1995 as President and Chief Executive Officer, as well as Executive Vice President and Board member of KCSI. He became President and Chief Executive Officer of KCSI on July 12, 2000, at the time the financial assets of the Company were spun off. Prior to joining KCSI, Mr. Haverty served as President of the Atchison, Topeka and Santa Fe Railway.

"The employees and management of KCSI appreciate Landon's contributions as Chairman over the past four years. During his tenure, we invested in Mexico and Panama and extended our U.S. ownership by acquiring Gateway Western that operates between Kansas City and St. Louis," said Mr. Haverty.

Mr. Haverty sits on the boards of Science City/Union Station, Kansas City: the University of Denver's Intermodal Transportation Institute; MidWest Grain Products, Inc., Atchison, Kansas; and the Greater Kansas City Chamber of Commerce. He also sits on the Board of Trustees of the John W. Barringer, III, National Railroad Library in St. Louis, and was past President of the library. Mr. Haverty is also a member of The Civic Council of Kansas City.

Born in Atchison, Kansas, Mr. Haverty's railroad career began in 1963 as a brakeman on the Missouri Pacific Railroad in Atchison. He is a graduate of the University of Louisiana -- Lafayette, and received an MBA from the University of Chicago. He has three children and resides in Mission Hills, KS, with his wife, Marlys.

KCSI is a transportation holding company that has railroad investments in the U.S., Mexico, and Panama. Its primary holding is KCSR, which is headquartered in Kansas City, Missouri, and serves customers in the central and south central regions of the U.S. KCSI's rail holdings and investments are primary components of a NAFTA Railway system that links the commercial and industrial centers of the U.S., Canada, and Mexico.