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EXHIBIT 99.1
For Immediate Release Contact: Edward A. Burkhardt
Dated November 1, 2000 Telephone: 773-714-8669
WISCONSIN CENTRAL SHAREHOLDERS COMMITTEE TO MAXIMIZE VALUE WELCOMES
SUPPORT FROM SOUTHEASTERN ASSET MANAGEMENT
Chicago, Ill -- Edward A. Burkhardt, Chairman of the Wisconsin Central
Shareholders Committee to Maximize Value, welcomed Monday's SEC filing by
Southeastern Asset Management, Inc. indicating Southeastern's support for the
Committee's objective of maximizing shareholder value.
Southeastern is the largest shareholder of Wisconsin Central Transportation
Corporation (NASDAQ: WCLX) with holdings of 14.4% of the total number of shares
outstanding. Members of the Committee hold an additional 7.2% of Wisconsin
Central's outstanding shares.
Mr. Burkhardt further said "We expect to pick up substantial support from
other institutional investors once our consent solicitation materials are mailed
to shareholders and we proceed with direct solicitation. These investors, like
ourselves, have lost heavily as a result of declining profitability and share
price at Wisconsin Central."
Mr. Burkhardt took issue with a mailing to shareholders by Wisconsin
Central's Board indicating that the Committee was attempting to "seize
control.........without offering you any value for your shares." He said "The
incumbent Board is acting as if this is a tender offer rather than a shareholder
insurrection. The Committee isn't proposing to take over anyone's shares. Our
focus is on maximization of value for all shareholders, an objective that seems
to have been lost to the present Board."
Mr. Burkhardt indicated that the Committee was working to finalize its
consent solicitation materials and that the documents would be sent to
shareholders in the near future.
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CERTAIN INFORMATION CONCERNING PARTICIPANTS
The Committee, the members of the Committee, the nominees for election as
directors proposed by the Committee and certain other persons may be deemed to
be participants in the solicitation of shareholder consents referred to in this
press release. Information regarding each participant is included in the
preliminary consent statement filed by the Committee with the Securities and
Exchange Commission on October 20, 2000. The Committee intends to mail
definitive copies of the consent statement, together with consent cards, to
Wisconsin Central shareholders in the near future. Wisconsin Central
shareholders are urged to read the consent statement carefully when it is
available because it contains important information. The Committee's consent
statement is available without charge at the SEC's Internet web site at
www.sec.gov. In addition, the Committee will provide copies of its consent
statement without charge upon request. Requests for copies should be directed
to the Committee's information agent, Innisfree M&A Incorporated, at its toll-
free number: 1-888-750-5834.
