FORT WORTH, Texas -- Burlington Northern Santa Fe Corporation today announced in a press release a number of actions in response to the continuing softness in the U. S. economy that is resulting in a flat year-over-year freight revenue outlook. The actions are to:

-- Eliminate approximately $100 million of planned 2001 capital and other investments, primarily for certain expansion and discretionary projects; and

-- Implement initiatives to lower ongoing quarterly operating expenses by about $20 million.

"These actions are necessary," said Matthew K. Rose, BNSF President and Chief Executive Officer, "because of continued softness in the overall U.S. economy, especially industrial production, and weakening consumer confidence. We need to align our spending with our revenue forecast for the balance of 2001 to protect our goal of improving free cash flow, while providing our customers with the service they require."

BNSF Announces First-Quarter Charges and Earnings per Share Expectation BNSF also announced approximately $40 million of non-recurring, after-tax expenses for the write-down of certain non-rail investments. BNSF's first- quarter results, to be announced on April 24, 2001, will include charges for:

-- FreightWise, an Internet transportation exchange;

-- Pathnet, a telecommunications venture; and

-- A portfolio of other non-core real-estate investments.

In addition, first-quarter results will include an after-tax $6 million extraordinary charge on the early extinguishment of debt.

"Without these charges, we expect first quarter earnings per share to be within the range of analysts' expectations but slightly below consensus," Rose pointed out.