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CN reaches voluntary mitigation agreement with Richton Park, Ill., on EJ&E acquisition

CHICAGO, March 12, 2009 — CN (TSX: CNR)(NYSE: CNI) announced today a voluntary mitigation agreement with the Village of Richton Park, Ill., located southwest of Chicago, addressing the municipality's concerns with CN's acquisition of the principal lines of the Elgin, Joliet & Eastern Railway Company (EJ&E). CN completed its EJ&E acquisition on Jan. 31, 2009.

The agreement will see CN assist in the creation and maintenance of quiet zones, fund safety fencing, and provide emergency response personnel training and emergency communication improvements. 

Gordon Trafton, CN senior vice-president, Southern Region, said: “Our pact with Richton Park marks the twelfth voluntary mitigation agreement signed by CN with communities affected by the EJ&E acquisition. We believe this demonstrates a clear, on-going commitment by CN to work closely with the cities, towns, and villages that will experience increased freight traffic as CN fully integrates EJ&E operations into its network over a three-year period.

“Our community liaison officer has recently reached out to all 33 affected communities and will continue to schedule face-to-face meetings with them all to ensure timely communication of implementation activities, including quiet zones and training for municipal responders at CN's expense.”

More information on the acquisition, including a map of the areas served by the EJ&E and CN, is available on CN's website.

Forward-Looking Statements
This news release contains forward-looking statements. CN cautions that, by their nature, forward-looking statements involve risk, uncertainties and assumptions. Implicit in these statements, particularly in respect of long-term growth opportunities, is the Company's assumption that such growth opportunities are less affected by the current situation in the North American and global economies. The Company cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. The current situation in financial markets is adding a substantial amount of risk to the North American economy, which is already in a recession, and to the global economy, which is significantly slowing down. The Company cautions that its results could differ materially from those expressed or implied in such forward-looking statements. Important factors that could cause such differences include, but are not limited to, industry competition, legislative and/or regulatory developments, compliance with environmental laws and regulations, various events which could disrupt operations, including natural events such as severe weather, droughts, floods and earthquakes, the effects of adverse general economic and business conditions, inflation, currency fluctuations, changes in fuel prices, labor disruptions, environmental claims, investigations or proceedings, other types of claims and litigation, and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should be made to “Management's Discussion and Analysis” in CN's annual and interim reports and Annual Information Form and Form 40-F filed with Canadian and U.S. securities regulators, available on CN's website, for a summary of major risks.