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 Kansas City Southern (KCS) KSU announced today that yesterday 
 the Mexican Economic Competition Commission (Commission) published in 
 the Mexican Official Gazette of the Federation an abstract of its 
 preliminary report (Preliminary Report) on effective competition in the 
 market for interconnection services, trackage and switching rights used 
 to provide railway freight public services in the rail freight industry 
 in Mexico (Relevant Market).
 
 
 In the abstract of its Preliminary Report, the Commission concludes that 
 conditions of effective competition are lacking in the market of 
 trackage rights in the rail networks operated by Kansas City Southern de 
 Mexico, S.A. de C.V. (KCSM), Ferrocarril Mexicano, S.A. de C.V., 
 Ferrosur, S.A. de C.V. and Ferrocarril and Terminal del Valle de México, 
 S.A. de C.V., an entity partially owned by KCSM.
 
 
 KCSM respectfully disagrees with the Commission's reasoning and 
 preliminary conclusions, and will exercise its rights within the next 20 
 business days to file evidence and arguments to support its position, as 
 provided in the Mexican Federal Economic Competition Statute. After the 
 end of the aforementioned 20 business-day period, the Commission has an 
 additional term of up to 110 business days to issue a final report in 
 connection with effective competition conditions in the Relevant Market.
 
 
 No remedy, sanction, penalty or other alteration of the rights of KCSM 
 is imposed by the Preliminary Report. Any such action could only be 
 considered subsequent to the issuance of a final report by the 
 Commission and then only separately by the Regulatory Agency of Railway 
 Transportation (Railway Regulatory Agency or Agency) at the SCT.
 
 
 As such, the preliminary conclusions have no impact on KCSM's current 
 business and operations.
 
 
 In the event that in its final report the Commission confirms its 
 preliminary conclusions, the Railway Regulatory Agency of the SCT would 
 have authority to consider specific remedies, which could include, among 
 others, imposition of limited mandatory trackage rights on KCSM and 
 other concessionaries, for specific commodities, routes or segments 
 thereof, in addition to the mandatory trackage rights already provided 
 in their corresponding concession titles. The Agency may also impose the 
 service conditions and rates for these limited mandatory trackage 
 rights. Before any such action, however, the Agency must first evaluate 
 the evidence and arguments offered by the applicable concessionaires.
 
 
 Should the Commission's final report affirm the preliminary conclusions 
 and the Railway Regulatory Agency consider specific remedies for such 
 findings, KCSM will exercise all of its rights under its concession and 
 the law to ensure that any actions considered by the Agency are workable 
 and consistent with KCSM's rights under law and under its concession.
 
 
 Headquartered in Kansas City, Mo., KCS is a transportation holding 
 company that has railroad investments in the U.S., Mexico and Panama. 
 Its primary U.S. holding is The Kansas City Southern Railway Company, 
 serving the central and south central U.S. Its international holdings 
 include Kansas City Southern de Mexico, S.A. de C.V., serving 
 northeastern and central Mexico and the port cities of Lázaro Cárdenas, 
 Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway 
 Company, providing ocean-to-ocean freight and passenger service along 
 the Panama Canal. KCS&#39; North American rail holdings and strategic 
 alliances are primary components of a NAFTA Railway system, linking the 
 commercial and industrial centers of the U.S., Mexico and Canada.
 
 
 This news release contains "forward-looking statements" within the 
 meaning of the securities laws concerning potential future events 
 involving KCS and its subsidiaries, which could materially differ from 
 the events that actually occur. Words such as "projects," "estimates," 
 "forecasts," "believes," "intends," "expects," "anticipates," and 
 similar expressions are intended to identify many of these 
 forward-looking statements. Such forward-looking statements are based 
 upon information currently available to management and management's 
 perception thereof as of the date hereof. Differences that actually 
 occur could be caused by a number of external factors over which 
 management has little or no control, including: competition and 
 consolidation within the transportation industry; the business 
 environment in industries that produce and use items shipped by rail; 
 loss of the rail concession of KCS' subsidiary, Kansas City Southern de 
 México, S.A. de C.V.; the termination of, or failure to renew, 
 agreements with customers, other railroads and third parties; access to 
 capital; disruptions to KCS' technology infrastructure, including its 
 computer systems; natural events such as severe weather, hurricanes and 
 floods; market and regulatory responses to climate change; legislative 
 and regulatory developments and disputes; rail accidents or other 
 incidents or accidents on KCS' rail network or at KCS' facilities or 
 customer facilities involving the release of hazardous materials, 
 including toxic inhalation hazards; fluctuation in prices or 
 availability of key materials, in particular diesel fuel; dependency on 
 certain key suppliers of core rail equipment; changes in securities and 
 capital markets; availability of qualified personnel; labor 
 difficulties, including strikes and work stoppages; insufficiency of 
 insurance to cover lost revenue, profits or other damages; acts of 
 terrorism or risk of terrorist activities; war or risk of war; domestic 
 and international economic, political and social conditions; the level 
 of trade between the United States and Asia or Mexico; fluctuations in 
 the peso-dollar exchange rate; increased demand and traffic congestion; 
 the outcome of claims and litigation involving KCS or its subsidiaries; 
 and other factors affecting the operation of the business. More detailed 
 information about factors that could affect future events may be found 
 in filings by KCS with the Securities and Exchange Commission, including 
 KCS' Annual Report on Form 10-K for the year ended December 31, 2016 
 (File No. 1-4717) and subsequent reports. Forward-looking statements are 
 not, and should not be relied upon as, a guarantee of future performance 
 or results, nor will they necessarily prove to be accurate indications 
 of the times at or by which any such performance or results will be 
 achieved. As a result, actual outcomes and results may differ materially 
 from those expressed in forward-looking statements. KCS is not obligated 
 to update any forward-looking statements to reflect future events or 
 developments.
 
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