Contact:  Thomas E. Hoppin
                                                                (804)   782-1450

                          CSX TO CONVEY BARGE INTEREST;
                   TRANSACTION WILL CREATE $1 BILLION COMPANY

FOR IMMEDIATE RELEASE

        RICHMOND,  Va.,  April 20,  1998 - CSX  Corporation  (NYSE:  CSX)  today
announced it will convey  American  Commercial  Lines (ACL) to a venture  formed
with Vectura Group, Inc.  (Vectura) for  approximately  $850 million in cash and
securities. CSX will receive $695 million in cash and $155 million of securities
issued by the  venture,  including  a 34% stake in the  venture.  As part of the
transaction,  National Marine, Inc. (NMI), a wholly owned subsidiary of Vectura,
will be combined  with ACL to create a company with assets of  approximately  $1
billion.

        The  business  will be based in  Jeffersonville,  Ind.,  will retain the
American Commercial Lines name, and will be led by ACL's current management team
headed by Michael C. Hagan, ACL's current chief executive.

        The  transaction  is  subject to  customary  conditions,  including  the
arrangement of financing. Closing is anticipated in the second quarter of 1998.

        Announcing the transaction,  John W. Snow,  chairman and chief executive
officer  of  CSX,  said:  "We  are  extremely  pleased  with  this  result.  The
combination with National Marine provides superior value for CSX's  shareholders
and represents an exceptional  outcome for ACL, its employees and its customers.
CSX achieves the goal of realizing significant value from the transaction, while
retaining  a   continuing   interest  in  the  inland   waterway   business  and
participating in the synergies the combination creates.

        "Completion of this transaction strengthens our balance sheet, increases
shareholder  value  and  allows  us to focus  more of our  energies  on our core
railroad  business.  This is an especially  important priority as we move toward
conclusion of the review and approval process of the Conrail transaction and the
integration of Conrail lines into our rail system," Snow said.

        Michael C. Hagan, president and chief executive officer of the new ACL, 
said: "Our management team is excited about the service opportunities this 
transaction offers for our

                                     -more-

                                       -2-

customers. As a leader in the inland marine transportation industry in North and
South  America,  the new ACL will be uniquely  equipped to handle our customers'
requirements.  We expect to continue to leverage our existing  relationship with
CSX,  along with other  transportation  companies  throughout  the world,  as we
launch this new venture," Hagan said.

        David Wagstaff,  president and chief executive officer of Vectura, said:
"The combined  company should provide  substantial  logistical  efficiencies for
customers, as well as enhanced opportunities for employees."

        The new ACL will operate the largest inland  waterway  fleet,  with more
than 4,500 barges and 195  towboats.  The  company's  U.S.  domestic  fleet will
include  more than 3,800 dry cargo  barges and 450 tank barges  operating on the
Mississippi  River System and its tributaries,  as well as the Gulf Intracoastal
Waterway.  For customers,  the larger fleet will mean better service  frequency,
greater flexibility in barge scheduling, and overall enhanced service levels.

        Wasserstein Perella & Co., Inc. served as CSX's advisor on the 
transaction. Chase Securities, Inc. and Wasserstein Perella & Co., Inc. are 
providing the financing for the transaction.

        CSX   Corporation,   based  in  Richmond,   Va.,  is  an   international
transportation company providing rail, intermodal,  container-shipping,  barging
and contract logistics services worldwide.

        Vectura  Group,   Inc.,  the  parent  of  National   Marine,   Inc.,  is
headquartered  in New Orleans.  Vectura  provides barging as well as stevedoring
services in the Port of New Orleans.  National Marine operates  approximately 55
towboats and 700 barges throughout the U.S. inland river system.

        American Commercial Lines of Jeffersonville, Ind., is a family of marine
companies  providing a wide range of services to the  shipping  public and other
inland waterway  carriers.  The company operates  approximately 140 towboats and
3,800  barges on both U.S.  and foreign  waterways.  Additionally,  ACL operates
marine construction facilities, river terminals and communication services.

                                       ###

                  CSX's internet address is: http://www.csx.com