RailwayAge

345 Hudson Street ● New York, NY 10014 ● Phone: (212) 620-7200 ● Fax: (212) 633-1165

April 17, 2003

Mr. Gary L. Gibson

General Manager

Indiana Harbor Belt Railroad

2721 161st Street

Hammond, Indiana 46323

Dear Mr. Gibson:

It is my great pleasure to inform you that the Indiana Harbor Belt Railroad has been selected by Railway Age as 2003 Regional Railroad of the Year.

This year's entries were exceptionally strong. Indiana Harbor Belt Railroad was the choice of our judges for its remarkable turnaround, extraordinary safety performance, and close attention to customer service.

I look forward to presenting the award at the annual meeting of the American Short Line and Regional Railroad Association in Philadelphia on May 19.

A copy of the news release that we propose to issue to industry media will follow on Monday, April 21 for your review. We will be pleased to send this release to your local media if you will provide us a list. We have no objection if you wish to issue your own news release.

The editors of Railway Age join me in extending our warmest congratulations to you and your fellow workers for running a truly outstanding railroad.

Yours sincerely,

/Original Signed/

Robert P. DeMarco

Publisher

Railway Age