EXHIBIT 99.1


                          ANNUAL SERVICER'S CERTIFICATE
                            CSX TRANSPORTATION, INC.

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                       CSX TRADE RECEIVABLES MASTER TRUST
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          The   undersigned,   a   duly   authorized   representative   of   CSX
Transportation,  Inc.,  as  Servicer  ("CSXT"),  pursuant  to  the  Pooling  and
Servicing  Agreement dated as of December 18, 1992 (as amended and supplemented,
the  "Agreement")  among CSX  Trade  Receivables  Corporation,  as  Seller,  CSX
Transportation,  Inc., as Servicer,  and Chemical Bank, as Trustee,  does hereby
certify that:

          1.   CSXT is, as of the date hereof, the Servicer under the Agreement.
               Capitalized  terms used in this Certificate have their respective
               meanings as set forth in the Agreement.

          2.   The  undersigned  is a Servicer  Officer  who is duly  authorized
               pursuant to the Agreement to execute and deliver this Certificate
               to the Trustee.

          3.   A review of the  activities  of the Servicer  during the calendar
               year ended  December 31, 1997, and of its  performance  under the
               Agreement was conducted under my supervision.

          4.   Based  on  such  review,  the  Servicer  has,  to the  best of my
               knowledge,  performed  in all material  respects its  obligations
               under the Agreement  throughout  such year, and no default in the
               performance  of such  obligations  has occurred or is  continuing
               except as set forth in paragraph 5 below.

          5.   The following is a description of each default in the performance
               of  the  Servicer's  obligations  under  the  provisions  of  the
               Agreement  known to me to have been made by the  Servicer  during
               the year ended December 31, 1997,  which sets forth in detail (i)
               the  nature  of  such  default,  (ii)  the  action  taken  by the
               Servicer,  if any,  to  remedy  each such  default  and (iii) the
               current status of each such default: None.

          In WITNESS WHEREOF, the undersigned has duly executed this certificate
          this 18th day of March, 1998.


                       CSX TRANSPORTATION, INC., Servicer


                                     By:  /s/  JOHN C. ECCLESTON
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                                          John C. Eccleston
                                          Assistant Treasurer