Burlington Northern Santa Fe (BNI) 8-K Burlington Northern Santa Fe Reports

Exhibit 99.1

Investor Contact:	Marsha Morgan	FOR IMMEDIATE RELEASE
	(817) 352-6452
Media Contact:	Richard Russack
	(817) 867-6425

Burlington Northern Santa Fe Reports

All-Time Record Quarter

• Quarterly earnings were $1.33 per diluted share, or 22 percent higher than third-quarter 2005 earnings per diluted share of $1.09.

• Third-quarter freight revenues increased $597 million to $3.82 billion, with increases in volume, price and fuel surcharge.

• Operating income was $920 million, an increase of $142 million.

FORT WORTH, Texas, October 24, 2006 - Burlington Northern Santa Fe Corporation (BNSF) (NYSE: BNI) today reported record quarterly earnings of $1.33 per diluted share, a 22-percent increase over third-quarter 2005 earnings of $1.09 per diluted share.

“BNSF experienced double-digit revenue increases in each of the Company’s four business groups during the third quarter of 2006,” said Matthew K. Rose, BNSF Chairman, President and Chief Executive Officer. “We again handled record volumes in the quarter led by a 10-percent unit increase in coal, and an 8-percent unit increase in both our intermodal and agricultural products businesses. This led to our 18th consecutive quarter of year-over-year volume increases.”

Third-quarter 2006 freight revenues increased $597 million, or 19 percent, to an all-time quarterly record of $3.82 billion compared with $3.22 billion in the prior year. Revenue for the third quarter of 2006 included fuel surcharges of approximately $500 million compared with approximately $300 million in the third quarter of 2005. The increase in fuel surcharges was driven primarily by rising fuel prices, which was offset by the $293 million increase in fuel expense.

-more-

Coal revenues rose by $126 million, or 20 percent, to $748 million, due to record loadings of Powder River Basin coal. BNSF exceeded second quarter 2006’s record loadings by nearly 3 percent. Consumer Products revenues increased $244 million, or 18 percent, to $1.58 billion due to strong revenue increases in the international and domestic intermodal sectors. Industrial Products revenues increased $128 million, or 17 percent, to $871 million led by double-digit revenue growth in chemicals and plastics, petroleum and construction products. Agricultural Products revenues were up $99 million, or 19 percent, to $621 million, due primarily to strength in corn and soybeans.

Operating expenses for the third quarter of 2006 were $3.02 billion compared with third-quarter 2005 operating expenses of $2.54 billion. The $480 million increase in operating expenses was principally driven by a $293 million increase in fuel expense primarily reflecting higher prices and a declining hedge position as well as a 7-percent increase in unit volumes.

All-time quarterly record operating income of $920 million, increased $142 million, or 18 percent, compared with the third quarter of 2005.

BNSF’s subsidiary, BNSF Railway Company, operates one of the largest railroad networks in North America, with approximately 32,000 route miles in 28 states and two Canadian provinces. The railway is among the world’s top transporters of intermodal traffic, moves more grain than any other North American railroad, transports the components of many of the products we depend on daily, and hauls enough low-sulphur coal to generate about ten percent of the electricity produced in the United States. BNSF is an industry leader in Web-enabling a variety of customer transactions atwww.bnsf.com.

Financial information follows:

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Burlington Northern Santa Fe Corporation

Consolidated Income Information

(Dollars in millions, except per share data)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2006			2005			2006			2005
Operating revenues
Freight revenues	$	3,815		$	3,218		$	10,776		$	9,160
Other revenues		124			99			327			277
Total operating revenues		3,939			3,317			11,103			9,437
Operating expenses
Compensation and benefits		975			900			2,822			2,602
Fuel		792			499			2,031			1,352
Purchased services		500			432			1,445			1,273
Depreciation and amortization		284			271			840			802
Equipment rents		232			223			695			654
Materials and other		236			214			695			632
Total operating expenses		3,019			2,539			8,528			7,315
Operating income		920			778			2,575			2,122
Interest expense		125			106			364			327
Other expense, net		10			16			30			31
Income before income taxes		785			656			2,181			1,764
Income tax expense		297			242			813			663
Net income	$	488		$	414		$	1,368		$	1,101
Diluted earnings per share	$	1.33		$	1.09		$	3.68		$	2.88
Diluted average shares outstanding (in millions)		366.8			380.4			371.4			382.2
Operating ratio (a)		75.9	%		75.8	%		76.1	%		76.8	%

(a) Calculated as total operating expenses less other revenues divided by freight revenues.

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Burlington Northern Santa Fe Corporation

Consolidated Balance Sheet Information

(Dollars in millions, except per share amounts)

	September 30, 2006			December 31, 2005
Assets
Current assets:
Cash and cash equivalents	$	84		$	75
Accounts receivable, net		795			678
Materials and supplies		464			396
Current portion of deferred income taxes		326			218
Current portion of fuel-hedging asset		70			303
Other current assets		206			210
Total current assets		1,945			1,880
Property and equipment, net		27,410			26,551
Other assets		2,103			1,873
Total assets	$	31,458		$	30,304
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable and other current liabilities	$	2,874		$	2,773
Long-term debt due within one year		746			456
Total current liabilities		3,620			3,229
Long-term debt and commercial paper		6,611			6,698
Deferred income taxes		8,087			7,916
Casualty and environmental liabilities		853			878
Minimum pension liability		417			417
Employee separation costs		87			107
Other liabilities		1,654			1,551
Total liabilities		21,329			20,796
Stockholders’ equity:
Common stock and additional paid-in capital		6,941			6,707
Retained earnings		9,177			8,045
Treasury stock and other		(5,989	)		(5,244	)
Total stockholders’ equity		10,129			9,508
Total liabilities and stockholders’ equity	$	31,458		$	30,304
Book value per share	$	28.21		$	25.59
Common shares outstanding (in millions)		359.1			371.6

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Burlington Northern Santa Fe Corporation

Consolidated Cash Flow Information

(in millions)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2006			2005			2006			2005
Operating activities
Net income	$	488		$	414		$	1,368		$	1,101
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		284			271			840			802
Deferred income taxes		56			68			170			209
Other, net		7			(46	)		(24	)		(112	)
Changes in working capital		(58	)		110			(43	)		96
Net cash provided by operating activities		777			817			2,311			2,096
Investing activities
Capital expenditures		(525	)		(447	)		(1,549	)		(1,245	)
Other, net		(15	)		320			(241	)		(184	)
Net cash used for investing activities		(540	)		(127	)		(1,790	)		(1,429	)
Financing activities
Dividends paid		(73	)		(64	)		(220	)		(192	)
Purchase of BNSF common stock		(215	)		(133	)		(590	)		(575	)
Proceeds from stock options exercised		12			66			99			193
Other, net		50			(364	)		199			(141	)
Net cash used for financing activities		(226	)		(495	)		(512	)		(715	)
Increase (decrease) in cash and cash equivalents		11			195			9			(48	)
Cash and cash equivalents:
Beginning of period		73			79			75			322
End of period	$	84		$	274		$	84		$	274

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Burlington Northern Santa Fe Corporation

Operating Statistics

	Three Months Ended September 30,				Nine Months Ended September 30,
	2006		2005		2006		2005
Cars/units (in thousands)		2,760		2,570		7,960		7,443
Average revenues per car/unit	$	1,382	$	1,252	$	1,354	$	1,231
Revenue ton miles (in millions)		165,073		151,419		479,915		444,341
Gross ton miles (in millions)		287,318		269,596		837,429		790,138
RTM/GTM		0.57		0.56		0.57		0.56
Freight revenue/thousand RTM	$	23.11	$	21.25	$	22.45	$	20.61
Operating expense/thousand RTM	$	18.29	$	16.77	$	17.77	$	16.46
Freight revenue/thousand GTM	$	13.28	$	11.94	$	12.87	$	11.59
Operating expense/thousand GTM	$	10.51	$	9.42	$	10.18	$	9.26
Compensation and benefits/thousand GTM	$	3.39	$	3.34	$	3.37	$	3.29
Average employees		41,864		39,923		41,461		39,292
Period end employees		41,967		40,244		41,967		40,244
Thousand RTM/average employee		3,943		3,793		11,575		11,309
Thousand GTM/average employee		6,863		6,753		20,198		20,109
Gallons of fuel used (in millions)		370		349		1,100		1,043
Average price per gallon of fuel (a)	$	2.12	$	1.43	$	1.84	$	1.30
GTM/gallon of fuel		777		772		761		758
Freight train miles (in millions)		44		42		130		125
GTM/freight train hours (in thousands)		123		120		122		122
Route miles operated		31,910		32,181		31,910		32,181

(a) Includes handling, taxes and hedge effect.

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Burlington Northern Santa Fe Corporation

Revenue Statistics by Commodity

	Three Months Ended September 30,				Percent Change		Nine Months Ended September 30,				Percent Change
	2006		2005				2006		2005
Revenues (in millions)
Intermodal	$	1,343	$	1,133	18.5	%	$	3,698	$	3,130	18.1	%
Automotive		112		97	15.5			345		293	17.7
Other Consumer Products		120		101	18.8			331		279	18.6
Total Consumer Products		1,575		1,331	18.3			4,374		3,702	18.2
Industrial Products		871		743	17.2			2,481		2,108	17.7
Coal		748		622	20.3			2,141		1,811	18.2
Agricultural Products		621		522	19.0			1,780		1,539	15.7
Total freight revenue		3,815		3,218	18.6			10,776		9,160	17.6
Other revenue		124		99	25.3			327		277	18.1
Total revenues	$	3,939	$	3,317	18.8	%	$	11,103	$	9,437	17.7	%
Cars/units(in thousands)
Intermodal		1,380		1,281	7.7	%		3,920		3,640	7.7	%
Automotive		40		41	(2.4	)		130		131	(0.8	)
Other Consumer Products		50		52	(3.8	)		147		148	(0.7	)
Total Consumer Products		1,470		1,374	7.0			4,197		3,919	7.1
Industrial Products		416		399	4.3			1,215		1,182	2.8
Coal		628		570	10.2			1,822		1,660	9.8
Agricultural Products		246		227	8.4			726		682	6.5
Total cars/units		2,760		2,570	7.4	%		7,960		7,443	6.9	%
Average revenue per car/unit
Intermodal	$	973	$	884	10.1	%	$	943	$	860	9.7	%
Automotive		2,800		2,366	18.3			2,654		2,237	18.6
Other Consumer Products		2,400		1,942	23.6			2,252		1,885	19.5
Total Consumer Products		1,071		969	10.5			1,042		945	10.3
Industrial Products		2,094		1,862	12.5			2,042		1,783	14.5
Coal		1,191		1,091	9.2			1,175		1,091	7.7
Agricultural Products		2,524		2,300	9.7			2,452		2,257	8.6
Average revenue per car/unit	$	1,382	$	1,252	10.4	%	$	1,354	$	1,231	10.0	%
Revenue ton miles (in millions)
Intermodal		33,663		30,469	10.5	%		96,141		89,719	7.2	%
Automotive		1,379		1,364	1.1			4,402		4,265	3.2
Other Consumer Products		3,656		3,673	(0.5	)		10,562		10,370	1.9
Total Consumer Products		38,698		35,506	9.0			111,105		104,354	6.5
Industrial Products		28,374		27,322	3.9			84,471		80,184	5.3
Coal		69,920		62,362	12.1			201,120		180,241	11.6
Agricultural Products		28,081		26,229	7.1			83,219		79,562	4.6
Total revenue ton miles		165,073		151,419	9.0	%		479,915		444,341	8.0	%
Freight revenue per thousand ton miles
Intermodal	$	39.90	$	37.19	7.3	%	$	38.46	$	34.89	10.2	%
Automotive		81.22		71.11	14.2			78.37		68.70	14.1
Other Consumer Products		32.82		27.50	19.3			31.34		26.90	16.5
Total Consumer Products		40.70		37.49	8.6			39.37		35.48	11.0
Industrial Products		30.70		27.19	12.9			29.37		26.29	11.7
Coal		10.70		9.97	7.3			10.65		10.05	6.0
Agricultural Products		22.11		19.90	11.1			21.39		19.34	10.6
Freight revenue per thousand ton miles	$	23.11	$	21.25	8.8	%	$	22.45	$	20.61	8.9	%

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Burlington Northern Santa Fe Corporation

Capital Expenditures and Track Maintenance

	Three Months Ended September 30,				Nine Months Ended September 30,
	2006		2005		2006		2005
Capital expenditures(in millions)
Maintenance of way
Rail	$	95	$	64	$	251	$	170
Ties		91		72		245		224
Surfacing		67		53		169		136
Other		99		90		303		259
Total maintenance of way		352		279		968		789
Mechanical		26		32		111		94
Information services		12		16		46		50
Other		22		28		83		69
Total maintenance of business		412		355		1,208		1,002
Terminal and line expansion		113		92		341		243
Total capital expenditures	$	525	$	447	$	1,549	$	1,245
Track maintenance
Track miles of rail laid
Maintenance of business		206		149		559		397
Expansion projects		51		51		111		129
Total		257		200		670		526
Cross ties inserted (thousands)
Maintenance of business		796		798		2,107		2,222
Expansion projects		94		113		287		303
Total		890		911		2,394		2,525
Track resurfaced (miles)		3,665		4,265		10,407		10,249

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