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LEADERS OF TWO LARGEST CONTAINER LINES NOTE PROGRESS MADE ON MARITIME REFORM

 LEADERS OF TWO LARGEST CONTAINER LINES NOTE PROGRESS
 MADE ON MARITIME REFORM
 WASHINGTON, Oct. 9 /PRNewswire/ -- As Congress adjourned this week, the leaders of the two largest U.S. container shipping lines, American President Lines (APL) and Sea-Land Service, Inc., said they were "encouraged by the progress" made in the area of maritime policy reform, which they termed "a strong foundation for action in the next Congress."
 However, the two executives reiterated the statement they made nine months ago -- that time is growing short for preserving a viable U.S. merchant fleet in the future, because both APL and Sea-Land face near- term decisions on future investment in the liner transportation business.
 Last February, CSX Corporation (NYSE: CSX), the parent of Sea-Land, and American President Companies, Ltd., parent of APL, announced joint plans to seek legislation to safeguard the future of the U.S. merchant marine.
 "We are impressed with the response our original call for action evoked," said John Lillie, chairman and chief executive officer of American President Companies. "Under the leadership of the Administration and both houses of Congress, we were able to establish the framework of a program to maintain a viable U.S. container shipping fleet that could compete with foreign-flag carriers in the international marketplace."
 John Snow, chairman and chief executive officer of CSX, said: "We expect the momentum that the ocean carriers, labor, shippers and government leaders have begun will continue on into the new Congress."
 Snow and Lillie singled out the contributions of Transportation Secretary Andrew Card, Senators John Breaux and Trent Lott, the late Rep. Walter Jones, and Reps. Gerry Studds, Norm Lent and Bob Davis.
 While making their case this year, American President Companies and CSX formed an alliance with maritime labor that has produced a united front on the need for policy reform. The coalition argued that current policies discourage investment in U.S.-flag vessels. Without policy reform, U.S. container carriers will be forced to reflag their ships offshore, and the United States commercial fleet - now numbering 171 - is expected to dwindle to 18 ships by the year 2005.
 The efforts attracted a broad range of supporters, including a grassroots organization of merchant seafarers called "Save Our Ships."
 Last spring, the President named a special Cabinet-level task force to examine the problem and propose regulatory and legislative solutions. Congress held hearings this summer on maritime reform in both the Senate and the House of Representatives. The House and Senate, working with the Department of Transportation, spent many hours working on legislation that would address many of the policy deficiencies that are destroying the U.S. merchant fleet. However, this session of Congress ended before all aspects of the legislation could be finalized.
 CSX Corporation, headquartered in Richmond, Va., is an international transportation company offering a variety of rail, container-shipping, trucking and barge services.
 Oakland-based American President Companies provides container transportation services in North America, Asia and the Middle East through an intermodal system combining ocean, rail and truck transportation.
 -0- 10/9/92
 /CONTACT: Thomas E. Hoppin of CSX Corporation, 804-782-1400, or Gil Roeder of American President Companies, 510-272-7702/
 (CSX) CO: CSX Corporation; American President Companies ST: Virginia IN: TRN SU:


MJ -- PH032 -- 8494 10/09/92 16:23 EDT
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Date:Oct 9, 1992
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