EXHIBIT 99.2
KCSI
Kansas City Southern Industries, Inc.
114 West 11th Street
Kansas City, Missouri 64105
NYSE Symbol: KSU
Release No. 2000-10 June 15, 2000
Media Contact: Kekst & Co.
Robert Siegfried (212-521-4832)
Michael Herley (212-521-4897)
Investors Contact:
Landon H. Rowland (816-218-2416)
Chairman, President and CEO
Joseph D. Monello (816-218-2411)
Vice President and CFO
{News Release}
SEC DECLARES STILWELL FINANCIAL INC. FORM 10
REGISTRATION STATEMENT EFFECTIVE
(Page 1)
Kansas City, Missouri, June 15, 2000
KCSI ALSO HOLDS ANNUAL STOCKHOLDERS MEETING
AND RE-ELECTS TWO DIRECTORS
Kansas City Southern Industries, Inc. ("KCSI" or the "Company") (NYSE: KSU)
today announced that the Securities and Exchange Commission has declared
effective the Form 10 Registration Statement for the spin-off of the Company's
financial services business, Stilwell Financial Inc. This action permits the
spin-off to proceed as planned.
Earlier today the Company announced that its Board of Directors had approved the
spin-off of Stilwell Financial and declared a special dividend to be distributed
on July 12, 2000 to KCSI common stockholders of record on June 28, 2000.
Stockholders will receive 2 shares of common stock of Stilwell Financial for
every 1 share of KCSI common stock owned on the record date. Full details of the
transaction are contained in an Information Statement to be mailed to
stockholders.
The primary entities comprising Stilwell Financial are Janus Capital
Corporation, an approximately 81.5% owned subsidiary; Berger LLC, an
approximately 86% owned subsidiary; Nelson Money Managers Plc, an 80% owned
subsidiary; DST Systems, Inc., an equity investment in which Stilwell Financial
holds an approximately 32% interest; and miscellaneous other subsidiaries and
equity investments.
The Company also held its Annual Meeting of Stockholders today at the Marriott
Downtown Hotel, 200 West 12th Street, Kansas City, Missouri. With 90.1% of the
Company's outstanding common and preferred stock represented in person or by
proxy at the Annual Meeting, the stockholders elected Messrs. Michael G. Fitt
and Michael R. Haverty as directors to serve until the Annual Meeting of
Stockholders in 2003. The Stockholders also approved the selection of
PricewaterhouseCoopers LLP as the independent accountants for the year ending
December 31, 2000.
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This press release includes statements concerning potential future events
involving the Company, which could materially differ from the events that
actually occur. The differences could be caused by a number of factors including
those factors identified in KCSI's December 31, 1999 Form 10-K and the Current
Report on Form 8-K/A dated June 3, 1997, each filed by the Company with the
Securities and Exchange Commission (Commission file no. 1-4717). The Company
will not update any forward-looking statements in this press release to reflect
future events or developments.
............. The End
