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ILLINOIS CENTRAL RAILROAD BUILDS INTERMODAL FACILITIES TO EXPAND SERVICES

 ILLINOIS CENTRAL RAILROAD BUILDS
 INTERMODAL FACILITIES TO EXPAND SERVICES
 CHICAGO, Aug. 26 /PRNewswire/ -- Illinois Central Railroad today announced that it is relocating its Chicago intermodal facility to expand its service in that market. A new facility will be constructed in its yards at the southern edge of the city. Additionally, Illinois Central has acquired eight acres of land adjacent to its Memphis intermodal facility for expansion in that market.
 Illinois Central Chairman and Chief Executive Officer Edward L. Moyers commented, "With our low cost structure, we have become an effective competitor in the intermodal market. Our new construction in the Chicago area plus our recent expansion in Memphis provide valuable new resources in furthering our commitment to timely and efficient intermodal service. Additionally, this new facility will provide IC with an unobstructed double-stack route over its entire system."
 The existing intermodal facility in downtown Chicago will be leased to Southern Pacific Transportation Co. The lease agreement will extend through 1995 and includes an option to buy. Illinois Central will use the proceeds of the lease to construct the new facility.
 Commenting on the lease arrangement, Moyers added, "Both railroads benefit from this agreement. Because of traffic congestion and overhead obstructions between the existing intermodal facility and IC's main line, we are constrained at the current location in downtown Chicago in a way that westbound Southern Pacific is not. Our new facility south of the city will be exceptionally well-situated at the intersections of several major interstate highways serving Illinois, Indiana, Michigan and Iowa."
 The two railroads will continue to share the downtown facility until Illinois Central completes construction and moves to its new location in early 1993, at which time Southern Pacific will obtain exclusive control of the Chicago yard.
 Illinois Central Railroad, the wholly owned subsidiary of Illinois Central Corp. (NYSE: IC), operates a 2,700 mile freight operation between Chicago and the Gulf of Mexico.
 -0- 8/26/92
 /CONTACT: Ann G. Thoma of Illinois Central Corporate Relations, 312-819-7491/
 (IC) CO: Illinois Central Railroad ST: Illinois IN: TRN SU:


PS -- NY038 -- 3456 08/26/92 12:18 EDT
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Publication:PR Newswire
Date:Aug 26, 1992
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