
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, May 22, 1990                   TAG: 9005220473
SECTION: BUSINESS                    PAGE: A-3   EDITION: EVENING 
SOURCE: Associated Press
DATELINE: RICHMOND                                LENGTH: Short

RF&P BACK ON TRACK, CHIEF SAYS

RF&P Corp. is rebounding well from its failed attempt to merge with CSX Corp., the company's president told shareholders Monday.

"Employee morale continues to improve and all of us have refocused our energies toward the profitable and efficient operation of our railroad and real estate operations," Frank A. Crovo Jr. told shareholders at the Richmond-based company's annual meeting Monday.

Crovo blamed "extensive misinformation" in the news media for derailing the merger, under which CSX would have paid about $350 million, or $34.50 per share, for the shares of RF&P it doesn't already own.

by CNB