CN Board of Directors approves one-year contract extension for company's president and chief executive officer

MONTREAL, Nov. 30, 2006 — David G. A. McLean, chairman of the board of directors of CN, announced today that the company's directors and E. Hunter Harrison, president and chief executive officer of CN, have agreed to a one-year contract extension for Harrison through Dec. 31, 2009.

Harrison had signed a five-year employment contract with CN in 2004 expiring at the end of 2008.

McLean said: “The board of directors is pleased to have reached agreement on this contract extension with Hunter Harrison. Hunter has been a tremendous leader, transforming CN into one of the continent's leading railroads.”

Harrison became president and chief executive officer of CN on Jan. 1, 2003. He joined CN as executive vice-president and chief operating officer in March 1998, and served in that position until December 2002. He has been a director of CN since December 1999.

Before coming to CN, Harrison was a director and president and chief executive officer of Illinois Central Corporation (IC) and Illinois Central Railroad Company between 1993 and 1998. CN entered an agreement to purchase IC in February 1998 and assumed control of the railroad in July 1999.