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CSX Corporation Announces $2.3 Billion in Planned Capital Investment for 2013



CSX Corporation Announces $2.3 Billion in Planned Capital Investment for 2013

Investment Reflects Commitment to Customer Service and Confidence in Long-Term
Freight Rail Demand

PR Newswire

JACKSONVILLE, Fla., Jan. 23, 2013

JACKSONVILLE, Fla., Jan. 23, 2013 /PRNewswire/ -- CSX Corporation (NYSE: CSX)
today announced that it plans to invest approximately $2.3 billion in its
business in 2013.  The investments will support initiatives to help meet the
nation's long-term demand for freight rail, improve customer service and
further the company's plans for long-term profitable growth.

"The continued strong investment in CSX is a clear reflection of our desire to
bring lasting transportation solutions to our customers, as well as to enable
the inevitable movement of even more freight to rails," said Michael J. Ward,
president, chairman and chief executive officer. Ward noted that overall
growth excluding coal should be at a rate above the general economy in 2013.

Long-term increases in demand are expected to occur as the population and its
consumption rise, as global trade creates the need to move more products
between ports and people, as the highways become more congested, as the
reindustrialization of the U.S. gains momentum, and as shippers become
increasingly aware of the environmental benefits offered by rail. CSX
addresses those challenges and opportunities by serving customers across a
broad array of industries, including in some of the biggest and most active
consumer markets in the world.

The $2.3 billion – which was outlined in the company's fourth quarter and
full-year earnings presentation this morning – will fund critical network
enhancements and fleet upgrades. 

Many of the investments are related to long-term initiatives that give
customers greater access to an increasingly interconnected global
transportation network.  This includes the company's National Gateway
initiative creating double-stack intermodal train access between the
Mid-Atlantic ports and the Midwest.  The investments are also expected to
include $325 million associated with the implementation of the industry's
Positive Train Control program.

CSX has invested $7.8 billion in its network over the past four years.  These
investments are part of the company's balanced approach to capital deployment,
which also includes dividends and share repurchases.

About CSX

CSX Corporation, based in Jacksonville, Fla., is one of the nation's leading
transportation companies, providing rail, intermodal and rail-to-truck
transload services. The company's transportation network spans approximately
21,000 miles, with service to 23 eastern states, the District of Columbia and
two Canadian provinces. CSX's network connects more than 240 short line
railroads and more than 70 ocean, river, and lake ports. More information
about CSX Corporation and its subsidiaries is available at www.csx.com. Like
us on Facebook (http://www.facebook.com/OfficialCSX) and follow us on Twitter
(http://twitter.com/CSX).

Forward-looking Statements
This information and other statements by the company may contain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act with respect to, among other items: projections and
estimates of earnings, revenues, margins, volumes, rates, cost-savings,
expenses, taxes, liquidity, capital expenditures, dividends, share repurchases
or other financial items,  statements of management's plans, strategies and
objectives for future operations, and management's expectations as to future
performance and operations and the time by which objectives will be achieved,
statements concerning proposed new services, and statements regarding future
economic, industry or market conditions or performance. Forward-looking
statements are typically identified by words or phrases such as "will,"
"should," "believe," "expect," "anticipate," "project," "estimate,"
"preliminary" and similar expressions. Forward-looking statements speak only
as of the date they are made, and the company undertakes no obligation to
update or revise any forward-looking statement. If the company updates any
forward-looking statement, no inference should be drawn that the company will
make additional updates with respect to that statement or any other
forward-looking statements.

Forward-looking statements are subject to a number of risks and uncertainties,
and actual performance or results could differ materially from that
anticipated by any forward-looking statements. Factors that may cause actual
results to differ materially from those contemplated by any forward-looking
statements include, among others; (i) the company's success in implementing
its financial and operational initiatives; (ii) changes in domestic or
international economic, political or business conditions, including those
affecting the transportation industry (such as the impact of industry
competition, conditions, performance and consolidation); (iii) legislative or
regulatory changes; (iv) the inherent business risks associated with safety
and security; (v) the outcome of claims and litigation involving or affecting
the company; (vi) natural events such as severe weather conditions or pandemic
health crises; and (vii) the inherent uncertainty associated with projecting
economic and business conditions.

Other important assumptions and factors that could cause actual results to
differ materially from those in the forward-looking statements are specified
in the company's SEC reports, accessible on the SEC's website at www.sec.gov
and the company's website at www.csx.com.

SOURCE CSX Corporation

Contact: Lauren Rueger, Corporate Communications, +1-877-835-5279
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