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CALIFORNIA LINE SALE CLOSING

 SCHAUMBURG, Ill., March 30 /PRNewswire/ -- Santa Fe Railway completed the sale today of 100 route miles of rail lines to three southern California transit agencies for approximately $148 million.
 ``I am pleased that the second phase of this sale has been completed and that our work to expand capacity for commuter service on the San Bernardino subdivision is proceeding on schedule,'' said Robert D. Krebs, Santa Fe Railway chairman, president and chief executive officer.
 This closing includes the transfer of the Redlands, San Jacinto and Olive subdivisions as well as the Orange County portion of the San Diego subdivision. In an earlier closing on Feb. 19, 21 miles of track between Escondido and Oceanside were transferred to the North San Diego County Transit Development Board for $19.2 million. Santa Fe will continue to provide freight service over all of these lines.
 This transaction completes the second major closing of the transit line sale agreement reached in 1992 that totalled $500 million in cash, relief from certain capital expenditure reimbursements totalling $46 million, and investment in physical plant expansions to accommodate a combination of passenger and freight business on the San Bernardino subdivision.
 The final phase of the sale package, involving $60 million for the Harbor Subdivision, is scheduled to be completed in June, 1993. Another parcel included in the sale for a value of $18 million was rejected by the transit agencies and will not be included in the sale. As a result this property and another parcel near Los Angeles airport become available for alternative sale or development by Santa Fe.
 -0- 3/30/93
 /CONTACT: Catherine Westphal of Santa Fe Railway, 708-995-6273/


CO: Santa Fe Railway ST: Illinois, California IN: TRN SU:

TM -- NY094 -- 1254 03/30/93 17:44 EST
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Publication:PR Newswire
Date:Mar 30, 1993
Words:294
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