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(Kansas City Southern issued the following news release on April 22.)

KANSAS CITY, Mo. — Kansas City Southern’s Executive Committee of the Board of Directors declared a cash dividend of $5.3125 per share on its outstanding 4.25% Redeemable Cumulative Convertible Perpetual Preferred stock.

This dividend will be payable on May 17, 2004, to stockholders of record at the close of business on May 3, 2004.

KCS is comprised of, among others, The Kansas City Southern Railway Company and equity investments in Grupo Transportacion Ferroviaria Mexicana, S.A. de C.V., Southern Capital Corporation and The Panama Canal Railway Company.