Rail Weekly Update #6

20 May 2004

AHEAD OF SCHEDULE

As of May 20, we have installed just over 30 miles of the roughly 97 track miles scheduled to be completed by November 19th. As of now, it appears we will meet or beat that schedule. The Corman group begins today at Arlington laying rail between Arlington and Lake Preston. This is appoximately a 10 mile stretch which they expect to have completed by the end of the month.

¨ RJ Corman completed the second section of CWR, between Volga and Lake Preston on Thursday the 13^th and have returned today to start laying rail westward out of Arlington.

¨ Two of the DM&E cranes are recovering the usable and scrap material from the right of way preparing the track for tie installation, ballasting and surfacing which is schedule later in the year.

¨ We now estimate that we will complete our spot tie installation on the MP 298 to MP 308 location and have the speeds raised to 30 mph over the weekend of the 22^nd and 23rd

¨ Total rail delivered thus far is 63 track miles.

¨ The remaining 5 rail trains (390,000 feet) are scheduled to be here by June 30, 2004.

¨ We expect to receive the next two rail trains on the DM&E during the week of May 24^th. These will be the last two rail trains that are currently scheduled to be delivered to the DM&E this year. One rail train will be coming from the Markhan, Chicago, welding plant and the other from Pueblo, Colorado.