CN announces settlement with CP on hiring of former CN CEO

          CN announces settlement with CP on hiring of former CN CEO

PR Newswire

MONTREAL, Feb. 4, 2013

MONTREAL, Feb. 4, 2013 /PRNewswire/ - Upon Executive Vice-President and  Chief 
Operating Officer, Keith Creel, announcing that he will join Canadian  Pacific 
Railway Company as its  President and Chief Operating  Officer, CN (TSX:  CNR) 
(NYSE: CNI) stated today that it had  settled its differences with CP and  its 
former CEO Hunter  Harrison. The  settlement ends  the outstanding  litigation 
between CN and CP before  the Federal Court in  Chicago, Illinois. As part  of 
the settlement,  CP has  undertaken not  to hire  certain CN  employees  until 
December 31, 2016. Other terms of the settlement remain confidential.

As a leader in the North American rail industry, CN has a deep bench of
executive talent and will be announcing shortly a replacement to Keith Creel
as Executive Vice-President and Chief Operating Officer.

CEO Claude Mongeau said: "We wish Keith success in his new role and are
pleased to turn the page with respect to the matter of CP's hiring of CN's
former CEO, Hunter Harrison. The settlement arrived at today will allow CN
and CP to focus on their respective agendas and create value for their
customers and shareholders."

CN - Canadian National Railway Company and its operating railway subsidiaries
- spans Canada and mid-America, from the Atlantic and Pacific oceans to the
Gulf of Mexico, serving the ports of Vancouver, Prince Rupert, B.C., Montreal,
Halifax, New Orleans, and Mobile, Ala., and the key metropolitan areas of
Toronto, Buffalo, Chicago, Detroit, Duluth, Minn./Superior, Wis., Green Bay,
Wis., Minneapolis/St. Paul, Memphis, and Jackson, Miss., with connections to
all points in North America. For more information on CN, visit the company's
website at www.cn.ca.

Forward-Looking Statements
Certain information included in this news release constitutes "forward-looking
statements" within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and under Canadian securities laws. CN cautions
that, by their nature, these forward-looking statements involve risks,
uncertainties and assumptions. 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. Such forward-looking statements are not guarantees of future
performance and involve known and unknown risks, uncertainties and other
factors which may cause the actual results or performance of the Company or
the rail industry to be materially different from the outlook or any future
results or performance implied by such statements. Important factors that
could affect the above forward-looking statements include, but are not limited
to, the effects of general economic and business conditions, industry
competition, inflation, currency and interest rate fluctuations, changes in
fuel prices, legislative and/or regulatory developments, compliance with
environmental laws and regulations, actions by regulators, various events
which could disrupt operations, including natural events such as severe
weather, droughts, floods and earthquakes, labor negotiations and disruptions,
environmental claims, uncertainties of investigations, proceedings or other
types of claims and litigation, risks and liabilities arising from
derailments, and other risks and assumptions 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, 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.

CN assumes no obligation to update or revise forward-looking statements to
reflect future events, changes in circumstances, or changes in beliefs, unless
required by applicable Canadian securities laws. In the event CN does update
any forward-looking statement, no inference should be made that CN will make
additional updates with respect to that statement, related matters, or any
other forward-looking statement.

SOURCE CN

Contact:

Media
Mark Hallman
Director
Communications and Public Affairs
(905) 669-3384

Investment Community
Janet Drysdale
Vice-President
Investor Relations
(514) 399-0052
 
Press spacebar to pause and continue. Press esc to stop.