Providence and Worcester RR labor agreement

WORCESTER (BUSINESS WIRE)– Providence and Worcester Railroad Co. last week
announced that it has entered into a six-year agreement with the Brotherhood
of Railroad Signalmen ("BRS"). With the ratification of this contract,
the Company now has six-year agreements in place with the three unions representing
its non-management employees. Those unions are the BRS, whose members are made
up of the Company’s mechanical workers, communications and signal department
and maintenance of way workers, the Transportation Communications Union, whose
members are made up of the Company’s clerks and administrative personnel and
the United Transportation Union, whose members are all of the Company’s train
service employees. Orville R. Harrold, the Company’s President, said, "With
these three agreements in place, the first agreement to require negotiations
(United Transportation Union) will not be until July 2004." The Company
is a regional freight railroad operating in the states of Massachusetts, Rhode
Island, Connecticut and New York.