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WISCONSIN CENTRAL PLEASED WITH ICC RULING

 WISCONSIN CENTRAL PLEASED WITH ICC RULING
 Decision on GB&W-FRVR Rail Purchase Expected by Dec. 10; WC Says
 Transaction Offers 'Major Benefits' to Wisconsin
 ROSEMONT, Ill., May 29 /PRNewswire/ -- Wisconsin Central


Transportation Corporation's (NASDAQ: WCLX) president Ed Burkhardt said he is "very pleased" with yesterday's order (May 28) from the Interstate Commerce Commission that it will rule no later than Dec. 10, 1992, on the company's application to control and coordinate its Wisconsin Central Ltd. and Fox Valley & Western Ltd. subsidiaries. The FV&W agreed in January to acquire the rail assets of the Green Bay and Western and Fox River Valley railroads from Itel Rail Corporation, Chicago.
 Although classifying the transaction as "significant," the ICC set a procedural schedule as sought by WCTC that calls for a decision before the end of the year. In its notice, the commission said, "... we believe that the schedule provides ample opportunity for interested persons to file comments and address competitive concerns involved in the transaction." Under the ICC schedule, written comments are due July 13 and oral hearings, if deemed necessary, will be held Sept. 8-11.
 Burkhardt said, "We're confident the commission's review will show that his pro-competitive transaction offers major benefits to Wisconsin in terms of economic development, faster service and more jobs over the long term." He noted that Wisconsin Central has a strong record of growth and the railroad's work force has increased 58 percent since it began operations almost five years ago, while the number of railroad jobs nationally has declined 18 percent. In addition to jobs created by anticipated increases in freight business, WC also will be adding jobs at the railroad's freight car shop in North Fond du Lac, Wis.
 "A coordinated WCL-FVW system with increased revenues would be able to upgrade track and equipment for better service," Burkhardt said, "while providing long-term stability for employees and shippers, and an effective rail transportation alternative for shippers."
 Eliminating duplicate lines, consolidating services, and greater use of intermodal freight will create a faster, more efficient freight transportation system, according to Burkhardt. "This will help to make Wisconsin shippers and their employees more competitive in national and world markets, resulting in job growth for high-paying industries such as paper and pulp, manufacturing and mining." Burkhardt noted that, "Wisconsin is the keystone of our system and vital to our future."
 Under terms of an agreement announced Jan. 8, 1992, WCTC's Fox Valley & Western Ltd. subsidiary would acquire the operating rail assets of Green Bay and Western, its Ahnapee & Western subsidiary, and the Fox River Valley Railroad from Itel Rail Corporation at a cost of $63.2 million, subject to certain adjustments. The rail properties encompass 479 route miles and annually generate more than 100,000 carloads with revenues in excess of $40 million.
 Wisconsin Central Transportation Corporation is publicly traded on the NASDAQ under the ticker 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- 5/29/92
 /CONTACT: Tom Power of Wisconsin Central, 708-318-4600/
 (WCLX) CO: Wisconsin Central Transportation Corporation ST: Illinois IN: TRN SU:


AL -- MN007 -- 5216 05/29/92 13:46 EDT
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Date:May 29, 1992
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