CSX Launches CSX World Terminals

RICHMOND, Va. (PROTEXT) - CSX Corporation today unveiled CSXWorld Terminals as the new name for its terminal company.Headquartered in Charlotte, N.C., CSX World Terminals operatesterminals and related businesses in Hong Kong, China, Australia,Germany, Netherlands, Finland, Russia, Dominican Republic, PuertoRico and the United States. (Photo: http://www.newscom.com/cgi-bin/prnh/19991215/CHW028 ) The terminal company was created in March 1999 when Sea-LandService, Inc. reorganized into three separate businesses. Itsarray of products and services includes terminal management andservices, terminal consulting, warehouse and depot management,equipment maintenance, and terminal systems. "Strong growth in the international container business andunmet demand for new terminals make this an especially excitingtime to launch this new terminal company," said John W. Snow,chairman and chief executive officer of CSX Corporation. "CSXWorld Terminals operates a network of profitable and efficientcontainer terminals throughout the world, making it a leader inthe industry," he added. Last week, CSX Corporation announced the closing of the saleof the Sea-Land Service international liner business to MaerskLine, a leading Danish container-shipping company. CSX retainstwo former Sea-Land Service businesses: CSX World Terminals, andCSX Lines, a domestic container-shipping company. Annual revenuesfor the two companies total approximately $1 billion. Building upon its Sea-Land heritage of innovation andexcellence in worldwide transportation, CSX World Terminals willfocus on delivering customized solutions to terminal operations.Robert J. Grassi, president and chief executive officer of CSXWorld Terminals, commented, "As part of Sea- Land, we developed areputation for running extremely productive terminals. Now, asCSX World Terminals, we will totally dedicate our expertise inprocess engineering and proprietary technology to provide evenbetter results to our customers." "We are fortunate to be bringing the dedication and skills ofexperienced terminal operators to CSX World Terminals," Grassiadded. "Each member of our senior group brings more than 20 yearsof in-depth knowledge of the industry to our company. While thename CSX World Terminals is new, the company is stacked withexperience and intellectual capital." The management team reporting to Grassi includes: RonaldSforza, vice president and chief financial officer; GeretDePiper, vice president and chief commercial officer; Arno H.F.Dimmling, vice president and chief operating officer; ChristopherL. Koch, general counsel, and William V. McHugh, vice president,Sea-Land Orient domiciled in Hong Kong. The name CSX World Terminals was chosen because it reflectsboth the global nature of the company's business and the broadscope of services it brings to terminal management. The company'snew logo is a distinct set of dark blue boxes aligned to form abold W. "The company logo is designed to represent uncompromisingprecision and a confidence derived from knowledge, experience andexpertise," said Grassi. CSX World Terminals is a leading provider of terminalsolutions and operates 14 global businesses. CSX Corporation, based in Richmond, Va., operates the largestrail network in the eastern United States and also providescontainer shipping, intermodal and contract logistics services.

CSX WORLD TERMINALS

FACT SHEET Headquarters:

Charlotte, North Carolina, USA Executives:

Robert J. Grassi, President and ChiefExecutive

Officer

Ronald Sforza, Vice President and Chief

Financial Officer

Geret DePiper, Vice President and Chief

Commercial Officer

Arno H.F. Dimmling, Vice President and Chief

Operating Officer

William V. McHugh, Vice President, Sea-Land

Orient Employees:

1675 Products/Services: Terminal management, terminal services,

warehousing, equipment maintenance, bulk

services, consulting, terminal systems,depot

management, barge services, transportation

distribution Businesses: Sea-Land Orient Terminals, LTD

Hong Kong Asia Terminals Limited

Hong Kong Hong Kong Orient Trucking, LTD

Hong Kong Shanghai Orient International Container Transportation Co., LTD

Shanghai, PRC Sea-Land Orient (Tianjin) Container Terminals Co., LTD

Tianjin, PRC Sea-Land Orient Terminals (China), LTD Xiamen, PRC Sea-Land Australia Terminals

Adelaide, Australia Sea-Land (Australia) Terminal Services Brisbane, Australia Hamina Multimodal Terminals, KY

Hamina, Finland Container Terminal Germersheim

Germersheim, Germany Rio Haina Terminal

Haina, DominicanRepublic Vostochny International Container

Vostochny, Services

Russia World Crane Services

United States Aggregate Annual Revenue:

$405 million Ownership:

CSX World Terminals is a wholly owned

subsidiary of CSX Corporation, which alsoowns

and operates the largest railroad systemin

the eastern United States and provides

container-shipping, intermodal andcontract

logistics services. CSX generated $9.9billion

in revenue and $537 million in earnings in

1998. ots Original Text Service: CSXWorld Terminals Internet: http://www.newsaktuell.de Contact:Kelly A. McKain of CSX World Terminals, 704-571-2491 Photo:NewsCom: http://www.newscom.com/cgi-bin/prnh/19991215/CHW028

PRN Photo Desk, 888-776-6555 or 201-369-3467

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