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ILLINOIS CENTRAL CORPORATION DECLARES QUARTERLY DIVIDEND

CHICAGO, March 8 /PRNewswire/ -- The board of directors of Illinois Central Corporation (NYSE: IC) today declared a quarterly dividend of 20 cents per share on the outstanding, post-split common stock of Illinois Central Corporation. The dividend is payable on April 9, 1996, to stockholders of record at the close of business on March 26, 1996.

On Jan. 25, 1996, the board of directors declared a 3-for-2 stock split of its common stock, the new certificates of which will be issued March 14, 1996. The stock split will increase the shares outstanding from the Dec. 31, 1995, level of approximately 41 million to approximately 62 million shares.

The 1996 Annual Stockholders Meeting will be held on May 8, 1996, for stockholders of record as of March 8, 1996. The meeting will be held at 9 a.m. Chicago time in the Stockholders Room, 21st floor, Bank of America, 231 South LaSalle Street, Chicago, Ill. 60697.
 -0- 3/8/96


/CONTACT: Ann G. Thoma of Illinois Central corporate relations, 312-755-7591/

(IC)

CO: Illinois Central Corporation ST: Illinois IN: TRN SU: DIV

PS -- NYF036 -- 1608 03/08/96 12:55 EST
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Publication:PR Newswire
Date:Mar 8, 1996
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