September 28, 2004

FOR IMMEDIATE RELEASE

NATIONAL MEDIATION BOARD

Contact: NMB Public Information Line -- (202) 692-5050

Re: Florida East Coast Railway Co. and UTU Reach Agreement

Washington, D.C. -- The National Mediation Board (NMB) is pleased to announce that the United Transportation Union (UTU) reached a tentative collective bargaining agreement with the Florida East Coast Railway Company on September 23, 2004, covering the craft and class of Yardmasters. Mediation was guided by NMB Mediator Dick Hanusz.

Specific information regarding the contract or its provisions should be obtained directly from the parties.

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