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CONRAIL COMPLETES SALE OF SHELBYVILLE LINE TO CENTRAL RAILROAD COMPANY OF INDIANA

 CONRAIL COMPLETES SALE OF SHELBYVILLE LINE
 TO CENTRAL RAILROAD COMPANY OF INDIANA
 PHILADELPHIA, Dec. 30 /PRNewswire/ -- Consolidated Rail Corporation (NYSE: CRR) and Central Railroad Company of Indiana today closed Central's purchase of an 81-mile portion of Conrail's Shelbyville Line between Shelbyville, Ind., and Cincinnati.
 "This sale is good news for current and future rail freight customers," said Charles N. Marshall, Conrail's senior vice president- development. "Conrail is pleased that all the parties were able to work together to bring this transaction to a successful conclusion."
 Conrail offered the line for sale in 1990 as an alternative to the abandonment and dismantlement of a 58.5-mile segment between Shelbyville and Thatcher, approved by the Interstate Commerce Commission in 1982. The line remained intact because of an agreement among Conrail, the State of Indiana, and an association of local shippers which expired in April 1990.
 Terms of the transaction were not disclosed.
 Conrail operates a rail-freight transportation network in 14 Northeastern and Midwestern states, the District of Columbia, and the Province of Quebec.
 /delval/
 -0- 12/30/91
 /CONTACT: Robert L. Libkind of Conrail, 215-977-4594/
 (CRR) CO: Consolidated Rail Corporation; Central Railroad Company of Indiana ST: Pennsylvania, Indiana IN: TRN SU: TNM


KA -- PH009 -- 5665 12/30/91 13:15 EST
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Publication:PR Newswire
Date:Dec 30, 1991
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