THE VIRGINIAN-PILOT 

              Copyright (c) 1997, Landmark Communications, Inc.



DATE: Saturday, February 15, 1997           TAG: 9702150324

SECTION: BUSINESS                PAGE: D2   EDITION: FINAL 

SOURCE: ASSOCIATED PRESS 

DATELINE: PHILADELPHIA                      LENGTH:   22 lines

[CSX] CSK EXTENDS OFFER TO BUY CONRAIL STOCK

CSX Corp. on Friday extended its latest offer to purchase Conrail Inc. stock just a month after shareholders refused to approve a merger of the rail giants.

CSX has offered to buy 20.1 percent of Conrail's shares at $110 a share to bring its ownership of Conrail to 40 percent. CSX would acquire the remaining 60 percent of Conrail through a stock offer.

By the close of business Thursday, only 504,381 shares had been tendered of the 18,344,845 shares the Richmond, Va.-based CSX had been seeking. The deadline was extended to March 14.

Extending the deadline was necessary to keep CSX's offer alive if Conrail shareholders vote again and allow CSX to buy more stock, said a CSX spokesman.

KEYWORDS: CONRAIL CSX NORFOLK SOUTHERN MERGER