Released: May 5, 2008

CSX is disappointed that the Legislature has failed to endorse this important investment in Florida's future. Today's legislative action means that the company's transaction with the state will not go forward this year, and regrettably, it does not appear that commuter rail will be available in Central Florida. CSX is reviewing its timeline for rail infrastructure modifications in Florida and studying other implications of today's activity.

CSX commends the leadership and vision of officials including Congressman John Mica, Congresswoman Corrine Brown, U.S. Senator Mel Martinez, former Governor Jeb Bush, Governor Charlie Crist, FDOT Secretary Stephanie Kopelousos, state Rep. Dean Cannon, and state Sen. Daniel Webster. Since the August 2006 announcement of the agreement in principle with the state, CSX has focused on delivering the economic and environmental benefits promised in this far-reaching restructuring of Florida's transportation network. Despite this setback, the company, with 1,650 miles of track and 6,500 employees in its headquarters state, looks forward to continued and significant contributions to Florida's progress.