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Exhibit 99.1
News Release
[LOGO OF BURLINGTON NORTHERN SANTA FE]
FOR IMMEDIATE RELEASE:
CONTACT: Richard A. Russack
(817) 352-6425
BNSF REDEEMS SHAREHOLDER RIGHTS PLAN
Fort Worth, Texas, December 7, 2000 -- Burlington Northern Santa Fe
Corporation (BNSF; NYSE: BNI) today announced that its Board of Directors voted
to redeem all rights under its shareholder rights plan, effective immediately.
As a result of the Board's decision, the rights may no longer be exercised
and shareholders will receive a redemption payment of $0.01 per right. The
redemption payment will be distributed on April 2, 2001 to shareholders of
record as of March 12, 2001. The certificate for each share of outstanding
common stock represents currently one right, and there are approximately 392
million shares of common stock outstanding.
The shareholder rights plan was adopted on December 18, 1999 in connection
with the previously proposed combination transaction with Canadian National
Railway Company which the parties mutually agreed to terminate on July 20, 2000.
Through its subsidiary, the Burlington Northern and Santa Fe Railway
Company, BNSF, headquartered in Fort Worth, Texas, operates one of the largest
rail networks in North America, with 33,500 route miles of track covering 28
states and two Canadian provinces.
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