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LAST-MINUTE ICC ORDER DELAYS FOX VALLEY & WESTERN START-UP; SHIPPER, EMPLOYEE, COMMUNITY PLANS DISRUPTED; COMPANY VIEWS ACTION AS TEMPORARY

 ROSEMONT, Ill., Dec. 29 /PRNewswire/ -- Wisconsin Central Transportation Corporation (WCTC) (NASDAQ-NMS: WCLX) said the Interstate Commerce Commission has delayed until Jan. 28, 1993, the effective date of its order allowing WCTC's Fox Valley & Western Ltd. subsidiary to acquire the operating assets of the Fox River Valley Railroad (FRVR) and the Green Bay and Western Railroad (GBW).
 The ICC said it needs additional time to review the latest pleadings by rail labor organizations concerning the proper application of ICC- mandated labor protective conditions.
 Although the company views the delay as temporary, WCTC President Edward Burkhardt, said, "The ICC's last-minute action seriously disrupts the plans of hundreds of shippers, employees, and communities who were eagerly awaiting tomorrow's scheduled start-up of the FV&W."
 The ICC in its order of Dec. 10, 1992, had authorized FV&W to begin operations Wednesday, Dec. 30, 1992. FV&W planned to acquire FRVR's assets on Dec. 30 and to acquire subsequently the assets of the GBW after the railroad and its unions had completed their implementing agreement.
 The FV&W agreed in January 1992 to acquire the operating rail assets of the FRVR and GBW for $63 million in cash, subject to certain adjustments. The ICC has had the matter under consideration since April 28, 1992, including public hearings last September.
 Shares of Wisconsin Central Transportation Corporation are traded on the NASDAQ National Market System under the symbol WCLX. The company's principal subsidiary, Wisconsin Central Ltd., operates more than 2,000 miles of railroad serving Wisconsin, Illinois, Minnesota, Michigan's Upper Peninsula, and Ontario.
 -0- 12/29/92
 /CONTACT: Ed Burkhardt, president, or Tom Power, executive vice president, of Wisconsin Central Transportation, 708-318-4600/
 (WCLX)


CO: Wisconsin Central Transportation Corporation ST: Wisconsin, Illinois IN: TRN SU:

KD -- NY045 -- 0458 12/29/92 18:34 EST
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Publication:PR Newswire
Date:Dec 29, 1992
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