1. Intermodal – Is There a Change In Direction? Jeffrey S. Heller Assistant Vice President – International Marketing Norfolk Southern

2. Our Position East Coast all-water or Suez trade is growing and may grow to as much as 40% of total Asian imports However, West Coast port freight is dominant and will remain that way Our strategy contemplates growth from both coasts

3. The East Coast has Led Import Growth Over the Last12 Months Source: Port Websites WC: LAX, LGB, OAK, PDX, SEA, TACEC: NYC, BAL, ORF, CHS, SAV

4. AAR Data Would Suggest a Regionalization of IM Freight As Well East: NS, CSX, FEC:West: BNSF, UP, KCS Source – AAR, Cumulative through Week 19 0.0% -5.1% -2.6% -6.5%

5. And NS’ Own Data Suggests a Shift to the East Coast NS International Traffic with an East Coast Focus 2006: 42% 2007: 49% 2008 YTD: 52% NS International Traffic with a West Coast Focus 2006: 58% 2007: 51% 2008 YTD: 48% Westbound Forwarded Empty -23.4% Transpacific Exports -0.3% Transpacific Imports -18.9% EC Exports +11.2% EC Eastbound Empty -24.0% EC Imports +20.6%

6. So, is NS building for a world dominated by East Coast Intermodal port shipments?

7. Norfolk Southern System NS Intermodal Routes Clearance Restrictions NS’ Core Intermodal Network

8. Norfolk Southern System NS Intermodal Routes Clearance Restrictions NS’ Core Intermodal Network The Golden Triangle

9. Norfolk Southern System NS Intermodal Routes Clearance Restrictions Key Gateways NS’ Core Intermodal Network Key Interchanges

10. Norfolk Southern System NS Intermodal Routes Clearance Restrictions Key Gateways EC Ports NS’ Core Intermodal Network East Coast IM Ports

11. Norfolk Southern System NS Intermodal Routes Clearance Restrictions Norfolk Southern System NS Intermodal Routes Clearance Restrictions Meridian Speedway West Coast East Coast NS’ Core Intermodal Network Meridian Speedway

12. Norfolk Southern System NS Intermodal Routes Clearance Restrictions Norfolk Southern System NS Intermodal Routes Clearance Restrictions Crescent Corridor NS’ Core Intermodal Network Crescent Corridor

14. Norfolk Southern System NS Intermodal Routes Clearance Restrictions Norfolk Southern System NS Intermodal Routes Clearance Restrictions Heartland Corridor West Coast East Coast NS’ Core Intermodal Network Heartland Corridor

15. Columbus The Port of Virginia Harrisburg Kenova ChicagoCleveland Heartland Corridor Why The Heartland?

16. Heartland Corridor: Work in Progress

17. Other Key Developments on Heartland APM Virginia Intermodal Rail Terminal Western Freeway Relocation Project

18. Other Key Developments on Heartland Columbus Rickenbacker GLP

19. NS Served Intermodal Facility NS BNSF UP Columbus Rickenbacker GLP Bi-Coastal On-Dock Access

20. Norfolk Southern System NS Intermodal Routes Clearance Restrictions Norfolk Southern System NS Intermodal Routes Clearance Restrictions New England Corridor NS’ Core Intermodal Network Patriot Corridor West Coast

21. Pan Am Southern (PAS) will operate: Between Rotterdam Jct., NY and Ayer, MA Between White River Jct., VT and New Haven/Derby, CT. The main line – denoted in blue – is “The Patriot Corridor”

22. Norfolk Southern System NS Intermodal Routes Clearance Restrictions NS’ Core Intermodal Network 4 Corridor Strategy

23. AL & GA Division Infrastructure Improvements - $44.2 Million Oldham Siding Irvington Siding Cohutta Howardville 5 Mi. Double Austell 2 nd Lead Macon Bypass Arabi Siding Fargo Siding Lacy Siding

24. Columbia to Charleston Line Improvements - $12 Million Kingville Siding Kingville Connection Rowesville Siding Ridgeville Siding

25. Austell, GA Parking and Track 1 mi. support track – March ‘07 438 parking spaces – June, ‘07 Total - $10.7 million

26. Summary NS believes that freight growth from both coasts is likely in the future, but that East Coast Port freight may grow faster The choice of coast of entrance will be driven by factors well beyond the control of NS Our corridor and terminal investments are clearly balanced to serve both East Coast and West Coast customers