Optimistic Outlook Follows 'Strong' 2010, Norfolk Southern CEO Says in Annual Report

Mar 23, 2011, 10:00 ET from Norfolk Southern Corporation

NORFOLK, Va., March 23, 2011 /PRNewswire/ -- Looking ahead with optimism after last year's second-highest earnings ever, Norfolk Southern Corporation CEO Wick Moorman (NYSE: NSC) says in the 2010 Annual Report that the company is prepared for "the volumes we expect throughout 2011 and beyond, in what I believe will continue to be a growing market for our transportation products."

In his message to stockholders, Moorman notes that 2010 was "a very strong year. Aided by the continuing recovery and our own internal initiatives, we profitably grew the business, invested in the franchise, generated free cash flow, and produced attractive returns for our shareholders."

Moorman cited his pride in the company's employees for achieving a record safety performance and said, "We are committed to applying the same world-class standard to our customer service."

Volume expectations for 2011 and beyond "are supported by our investments in corridor initiatives that are giving us increased rail capacity to handle growth while reaping safety and environmental benefits for the public," Moorman said. "We will continue to do the right things to serve our customers and communities and to reward our shareholders for the trust you have placed in us."

The annual report is available on the company's website at www.nscorp.com. Some 175,000 copies are distributed to stockholders, the financial community, news media, and libraries. Norfolk Southern's annual report is certified by the Forest Stewardship Council, which promotes environmentally responsible printing standards. To request a copy, call 800-531-6757, e-mail annualreport@nscorp.com, or write to Norfolk Southern Corp., Corporate Communications Department, Three Commercial Place, Norfolk, Va. 23510-9217.

Norfolk Southern Corporation (NYSE: NSC) is one of the nation's premier transportation companies. Its Norfolk Southern Railway subsidiary operates approximately 20,000 route miles in 22 states and the District of Columbia, serves every major container port in the eastern United States, and provides efficient connections to other rail carriers. Norfolk Southern operates the most extensive intermodal network in the East and is a major transporter of coal and industrial products.

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SOURCE Norfolk Southern Corporation



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