SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the

                         Securities Exchange Act of 1934

                 Date of Report (Date of earliest event reported):
                                  April 25, 2002


                       KANSAS CITY SOUTHERN INDUSTRIES, INC.
                       -------------------------------------
                (Exact name of company as specified in its charter)


       DELAWARE                  1-4717                   44-0663509
---------------------         -------------           -------------------
(State or other jurisdiction  (Commission file           (IRS Employer
   of incorporation)             number)              Identification Number)


                 427 West 12th Street, Kansas City, Missouri 64105
                 -------------------------------------------------
                (Address of principal executive offices) (Zip Code)


                 Company's telephone number, including area code:

                                (816) 983 - 1303

                   114 West 11th Street, Kansas City, Missouri
          (Former name or former address if changed since last report)

<PAGE>

Item 7.     Financial Statements and Exhibits

(c)         Exhibits

            Exhibit No.                         Document

            (99)                                Additional Exhibits

            99.1                                Press Release issued by Kansas
                                                City Southern Industries, Inc.
                                                dated April 25, 2002 entitled,
                                                "Kansas City Southern's  First
                                                Quarter 2002 Earnings Per Share
                                                Nearly Doubles Compared to Prior
                                                Year First Quarter", is attached
                                                hereto as Exhibit 99.1


            99.2                                The following schedules are
                                                attached hereto as Exhibit 99.2
                                                -  Kansas City Southern Railway
                                                Operating Statements, Kansas
                                                City Southern Railway
                                                Carloadings by Commodity, Kansas
                                                City Southern Industries, Inc.
                                                Consolidated Balance Sheets




Item 9.     Regulation FD Disclosure

Kansas City Southern Industries,  Inc. ("KCSI" or "Company") is furnishing under
Item 9 of this Current  Report on Form 8-K the  information  included as Exhibit
99.1 and  Exhibit  99.2 of this  report.  Exhibit  99.1 is the  Company's  press
release,  dated April 25, 2002,  announcing  KCSI's first quarter 2002 operating
results.  Included in Exhibit 99.2 are  schedules  regarding  certain  financial
information discussed at the Company's first quarter 2002 conference call.

The information  included in this Current Report on Form 8-K,  including Exhibit
99.1 and Exhibit 99.2,  is furnished  pursuant to Item 9 and shall not be deemed
to be "filed" for the purposes of Section 18 of the  Securities  Exchange Act of
1934 or otherwise subject to the liabilities of that Section.

<PAGE>

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company
has duly  caused  this  Report  to be signed  on its  behalf by the  undersigned
hereunto duly authorized.

                                           Kansas City Southern Industries, Inc.


Date: May 1, 2002                          By: /s/  Louis G. Van Horn
                                              ----------------------------
                                                    Louis G. Van Horn
                                             Vice President and Comptroller
                                             (Principal Accounting Officer)


<PAGE>

EXHIBIT 99.1
Kansas City Southern Industries, Inc.
427 West 12th Street
Kansas City, Missouri 64105

Date:             April 25, 2002

Media Contact:    William H. Galligan           816/983-1551
                  William.h.galligan@kcsr.com

    Kansas City Southern's First Quarter 2002 Earnings Per Share Nearly Doubles

                      Compared to Prior Year First Quarter

Earnings Analysis & Commentary

Kansas City Southern Industries,  Inc. ("KCSI" or the "Company") reported a $5.8
million  increase in net income for the first  quarter of 2002 to $11.7  million
(19(cent)  per diluted  share)  compared to $5.9 million  (10(cent)  per diluted
share) for the first quarter of 2001. This quarter to quarter increase  resulted
primarily from a $8.8 million decline in operating expenses,  a $3.9 decrease in
interest  expense,  a $3.4  million  increase in other income and a $4.4 million
gain  realized  on the sale of  Mexrail,  Inc.  ("Mexrail"-  a former  49% owned
unconsolidated  affiliate)  to KCSI's  affiliate  in Mexico,  TFM,  S.A. de C.V.
("TFM").  These factors, which led to an increase in net income, were reduced by
a $1.5  million  decline in revenue,  a $6.3  million  decrease in equity in net
earnings of unconsolidated  affiliates and a $7.3 million increase in the income
tax  provision.  Net income for the first  quarter of 2001 also  includes a $0.4
million  charge  relating  to  the  implementation  of  Statement  of  Financial
Accounting Standard No. 133,  Accounting for Derivative  Instruments and Hedging
Activities  ("SFAS 133").  This charge is presented as a cumulative effect of an
accounting change for the quarter ended March 31, 2001.

Diluted earnings per share information is as follows:
                                                             First Quarter

                                                           ------------------
                                                             2002      2001
                                                           --------  --------

          U.S. operations                                  $  0.18   $  0.00
          Grupo TFM and PCRC (including associated Grupo
            TFM interest)                                     0.01      0.10
                                                           --------  --------
          Income before cumulative effect of accounting
            change                                            0.19      0.10
          Cumulative effect of accounting change, net of
             income tax                                        -        0.00
                                                           --------  --------
              Diluted earnings per share - Net income      $  0.19   $  0.10
                                                           ========  ========


Domestic  operating income of $13.4 million for the quarter ended March 31, 2002
was more than double the $6.1 million  reported for the first quarter of 2001 as
lower  operating  expenses  of $8.8  million  offset a $1.5  million  decline in
revenue  quarter  to  quarter.  First  quarter  revenue  from  KCSI's  principal
subsidiary, The Kansas City Southern Railway Company ("KCSR") increased slightly
compared with the prior year quarter due to increases in coal,  agriculture  and
minerals and paper and forest products that were mostly mitigated by declines in
chemical and petroleum  products,  intermodal and automotive  revenues and other
non-carload  revenue.  Revenue from other  subsidiaries was  approximately  $1.7
million lower quarter to quarter due to demand  driven  volume  declines.  Lower
costs and expenses at KCSR  resulted  mostly from declines in costs for salaries
and wages, fuel, car hire and casualties.  The decline in costs for salaries and
wages reflects improved operational  efficiency as well as the benefits from the
cost reduction strategy implemented at the end of March 2001, that included a 6%
reduction of employees  compared to the first  quarter of 2001.  Fuel costs were
substantially lower due to an approximate $0.20 decline in the average price per
gallon arising
<PAGE>

from market  conditions and the Company's  forward purchase position at December
31,  2001.  Casualty  expenses  were  lower due to the  absence  of  significant
derailment and personal  injury  casualty  events  experienced  during the first
quarter of 2001. These factors  contributed to a lower operating ratio for KCSR,
which  improved to 87.2% for the quarter  ended March 31, 2002 compared to 94.0%
for the same period in 2001.

Equity in earnings from Grupo Transportacion  Ferroviaria Mexicana, S.A. de C.V.
("Grupo TFM") declined  approximately  $6.3 million quarter to quarter.  For the
quarter  ended  March 31,  2001,  however,  equity  in  earnings  reflected  the
Company's proportionate share ($9.1 million) of the income recorded by Grupo TFM
relating  to  the  reversion  of  certain   concession  assets  to  the  Mexican
government.  Exclusive of this 2001 reversion income,  KCSI's first quarter 2002
equity in earnings from Grupo TFM increased $2.8 million compared to last year's
first quarter.  Grupo TFM's first quarter 2002 revenues  improved 1% compared to
the first quarter of 2001 and operating  expenses were slightly lower quarter to
quarter.  Under International  Accounting  Standards ("IAS"),  Grupo TFM's first
quarter  2002  operating  ratio was 77.3%  versus 79.8% in the same 2001 period.
First quarter 2002 results for Grupo TFM include a $3.5 million  deferred income
tax benefit  (calculated under accounting  principles  generally accepted in the
United States of America -"U.S. GAAP") compared to a deferred income tax expense
of $21.7  million in the first  quarter of 2001.  This variance was caused by an
income tax  provision on the reversion  income  recorded in the first quarter of
2001, as well as  fluctuations  in the peso exchange  rate and  inflation.  Also
contributing to Grupo TFM's deferred income tax calculation in the first quarter
of 2002 was an approximate  $1.7 million  expense arising from the change in the
Mexican corporate income tax rate, which is being reduced from 35% to 32% in one
percent  increments  beginning in 2003.  Under U.S.  GAAP, the impact of this 3%
rate  reduction  was  recognized  for deferred  income tax purposes in the first
quarter of 2002.  After  consideration  of minority  interest,  this rate change
resulted in a $0.5  million  reduction  in the  Company's  equity in earnings of
Grupo TFM during the first  quarter of 2002.  The Company  reports its equity in
Grupo TFM under U.S. GAAP while Grupo TFM reports under IAS.

KCSI's  consolidated  first quarter 2002 interest expense decreased $3.9 million
(26%) from the prior year quarter as a result of lower  interest rates and lower
overall debt balances. Other items affecting the Company's first quarter results
include a gain on the sale of Mexrail of  approximately  $4.4 million and a $3.3
million gain on the sale of  non-operating  property.  The gain from the sale of
Mexrail is presented as a separate item in the accompanying financial statements
and the gain on  non-operating  property is  reflected  as other  income for the
quarter ended March 31, 2002.

BUSINESS ANALYSIS AND OUTLOOK FROM THE CHAIRMAN

Michael R. Haverty,  KCSI Chairman,  President and Chief Executive Officer said,
"we  continue  to  make   progress   toward  our  goal  of  improving   domestic
profitability and reducing  corporate debt. Despite the impact of the continuing
lagging  economy,  KCS was able to maintain its revenue during the first quarter
of 2002 and more than double its operating  income versus the  comparable  prior
year quarter.  Also, we believe the recently announced  marketing agreement with
BNSF will provide important opportunities to grow our revenue base, particularly
in the chemical, grain and forest product markets.

The Company has been  aggressively  reducing its debt balance since the spin-off
of Stilwell  Financial Inc. in July 2000. Our corporate debt balance at the date
of the spin-off was approximately $682 million.  This compares to a debt balance
of  approximately  $658  million at  December  31, 2001 and  approximately  $628
million at March 31, 2002. Additionally, since the end of March, we have further
reduced  our debt  balance  by  approximately  $25  million  through  additional
payments.  This trend has been made possible through focused cost control, sound
cash  management  and the sale of various  assets,  including our  investment in
Mexrail
<PAGE>

to TFM in  March  2002.  We  will  continue  to  place a high  priority  on debt
reduction and are exploring options for furthering this objective.

We are  pleased  that the  dispute  with our  Mexican  partner,  Grupo TMM,  was
resolved in a manner  satisfactory for both parties. We believe that the Mexrail
transaction  will help promote  better  operational  efficiency and provide more
synergistic opportunities for the NAFTA rail network.

Grupo TFM continues to contribute  solid results in a weak economy.  We are more
confident than ever with the long-term  growth prospects of this rail franchise.
Through  its  unique  growth  story,  Grupo  TFM  has  become  one of  the  rail
transportation  leaders in North America and comprises a significant part of the
value of our NAFTA rail  network.  We,  along with our  partner,  Grupo TMM, are
continuing to pursue the purchase of the Mexican government's 24.6% ownership in
Grupo  TFM.  Our call  option  expires  on July  31,  2002  and we  expect  this
transaction to be completed during the second quarter.

2002 is a year of renewed  spirit and attitude for KCS.  During early April,  we
moved  to a  new  corporate  headquarters  building  in  downtown  Kansas  City,
Missouri, just blocks away from the old address that housed us for approximately
75 years.  Not only does this new facility  provide our employees  with a modern
and functional work environment,  it symbolizes a new era for KCS. We are nearly
two years removed from the spin-off of the  financial  services  companies  into
Stilwell  Financial  and,  in  that  time,  we  renewed  our  focus  on  being a
transportation  company.  Additionally,  we are planning to change our corporate
name to Kansas City Southern,  thereby  dropping  "Industries,  Inc.",  which we
believe more accurately reflects this focus as a transportation company. The new
building  and name  change  represent,  both in form and  function,  that KCS is
committed to being a strong player in the rail industry.

We are not certain when the economy  will improve for the long term,  but we are
ready.  As we approach the remainder of 2002,  our  operations  are running very
efficiently  and our cost structure is well  controlled.  We believe that KCS is
poised to take advantage of a rebounding  economy when it occurs and turn future
revenue growth into increased  profitability.  Our pledge to the shareholders of
KCS is to build long-term value through  continued  growth and by maximizing the
potential of our NAFTA rail network."

KCSI is comprised of, among others,  The Kansas City  Southern  Railway  Company
("KCSR")  and equity  investments  in Grupo TFM,  Southern  Capital  Corporation
("Southern Capital") and Panama Canal Railway Company ("PCRC").

This press  release  includes  statements  concerning  potential  future  events
involving  the  Company,  which  could  materially  differ  from the events that
actually occur. The differences could be caused by a number of factors including
those factors  identified in KCSI's  December 31, 2001 Form 10-K and the Current
Report on Form 8-K dated  December 11, 2001,  each filed by the Company with the
Securities and Exchange  Commission  ("SEC")  (Commission file no. 1-4717).  The
Company will not update any forward-looking  statements in this press release to
reflect future events or developments.

                        (Financial Information Attached)

<PAGE>
<TABLE>
                                             KANSAS CITY SOUTHERN INDUSTRIES, INC.
                                          CONSOLIDATED CONDENSED STATEMENTS OF INCOME
                                         (dollars in millions, except per share data)
                                                          (Unaudited)


<S>                                                                                        <C>               <C>

                                                                                               Three Months
                                                                                              Ended March 31,

                                                                                     -----------------------------------
                                                                                          2002                 2001
                                                                                     --------------       --------------
Revenues                                                                                  $   142.5            $   144.0

Costs and expenses                                                                            114.2                123.5
Depreciation and amortization                                                                  14.9                 14.4
                                                                                     --------------       --------------
Operating income                                                                               13.4                  6.1
Equity in net earnings of unconsolidated affiliates:
    Grupo Transportacion Ferroviaria Mexicana, S.A. de C.V. (preliminary)                       4.8                 11.1 (1)
    Other                                                                                       0.1                  0.1
Gain on sale of Mexrail, Inc.                                                                   4.4                    -
Interest expense                                                                              (11.3)               (15.2)
Other, net                                                                                      4.4                  1.0
                                                                                     --------------       --------------
Income before income taxes and cumulative effect of accounting change                          15.8                  3.1
Income tax provision (benefit)                                                                  4.1                 (3.2)
                                                                                     --------------       --------------
Income before cumulative effect of accounting change                                      $    11.7            $     6.3
Cumulative effect of accounting change, net of income taxes                                     -                   (0.4)
                                                                                     --------------       --------------
Net Income                                                                                $    11.7            $     5.9
                                                                                     ==============       ==============
(1)  Includes $9.1 million of income from the reversion of redundant rail line to Mexican government

Per Share Data:

Basic Weighted Average Common shares outstanding (in thousands)                              59,777               58,257

Basic Earnings (Loss) per Common share

       Income before cumulative effect of accounting change                               $    0.20            $    0.11
       Cumulative effect of accounting change                                                    -                 (0.01)
                                                                                     --------------       --------------

Net Income                                                                                $    0.20            $    0.10
                                                                                     ==============       ==============



Diluted Weighted Average Common shares outstanding (in thousands)                            61,842               60,776

Diluted Earnings (Loss) per Common share

       Income before cumulative effect of accounting change                               $    0.19            $    0.10
       Cumulative effect of accounting change                                                    -                  0.00
                                                                                     --------------       --------------

Net Income                                                                                $    0.19            $    0.10
                                                                                     ==============       ==============
</TABLE>

<PAGE>

EXHIBIT 99.2

Kansas City Southern Railway
Operating Statements
Dollars in Millions

<TABLE>

<S>                                                  <C>                      <C>                           <C>

                                                First Quarter             First Quarter                  Year Ended
                                                     2002                     2001                          2001
                                            ----------------------    ---------------------         ---------------------
Revenues

    Freight Revenue                                  $        86.9            $        83.4                 $       340.3
    Intermodal and Automotive Revenue                         14.2                     18.6                          66.0
    Unit Coal Revenue                                         28.3                     26.9                         115.8
    Haulage Revenue                                            3.1                      3.0                          13.0
                                                               7.9                      8.2                          31.3
                                            ----------------------    ---------------------         ---------------------
      Total Revenues                                         140.4                    140.1                         566.4
                                            ----------------------    ---------------------         ---------------------

Operating Expenses

    Salaries & Wages                                          33.3                     35.3                         133.7
    Fringe Benefits                                           14.8                     12.2                          54.0
    Fuel                                                       9.5                     12.4                          43.9
    Material and Supplies                                      7.8                      7.3                          27.5
    Car Hire                                                   5.2                      6.5                          19.8
    Purchased Services                                        11.8                     11.0                          47.7
    Casualties & Insurance                                     7.5                     14.5                          40.6
    Other                                                      2.0                      3.2                          10.3
                                            ----------------------    ---------------------         ---------------------
      Net Operating Expenses                                  91.9                    102.4                         377.5
                                            ----------------------    ---------------------         ---------------------

Fixed Expenses

    Leases, Net                                               13.0                     13.4                          54.6
    Depreciation                                              13.9                     13.4                          54.1
    Taxes (Other Than Income)                                  3.6                      2.5                          13.2
                                            ----------------------    ---------------------         ---------------------
      Total Fixed Expenses                                    30.5                     29.3                         121.9
                                            ----------------------    ---------------------         ---------------------
      Total Expenses                                         122.4                    131.7                         499.4
                                            ----------------------    ---------------------         ---------------------

Operating Income                                     $        18.0             $        8.4                 $        67.0

</TABLE>

<PAGE>

Kansas City Southern Railway
Carloadings By Commodity - Year to Date March 31, 2002
Dollars in Thousands
<TABLE>

<S>      <C>            <C>            <C>                 <C>                         <C>              <C>          <C>

                Carloadings                                                                          Revenue

                Year to Date            %                                                         Year to Date         %
 -------------------------------------------                                       ----------------------------------------
    2002            2001           Change                                              2002            2001        Change
 ------------   ------------    ------------                                       ------------   ------------  -----------

                                                  Coal

       57,592         45,194           27.4%         Unit Coal                        $  28,281      $  26,941          5.0%
          881          1,253          (29.7)%        Other Coal                             459            675        (32.0)%
 ------------   ------------    ------------                                       ------------   ------------  -----------
       58,473         46,447           25.9%                     Total                   28,740         27,616          4.1%

                                                  Chemical & Petroleum Products

        1,821          1,869           (2.6)%        Agri Chemicals                       1,404          1,438         (2.4)%
        3,240          2,795           15.9%         Gases                                3,119          2,602         19.9%
        5,414          5,712           (5.2)%        Organic                              5,424          5,694         (4.7)%
        4,864          4,792            1.5%         Inorganic                            5,158          4,887          5.5%
       13,087         18,992          (31.1)%        Petroleum                            9,650         10,778        (10.5)%
        7,454          6,995            6.6%         Plastics                             7,116          7,173         (0.8)%
-------------   ------------                                                       ------------   ------------
       35,880         41,155          (12.8)%                    Total                   31,871         32,572         (2.2)%
-------------   ------------                                                       ------------   ------------

                                                  Agriculture and Minerals

       12,124         12,061            0.5%         Domestic Grain                       8,388          8,216          2.1%
        4,915          3,182           54.5%         Export Grain                         3,811          2,292         66.3%
        7,283          6,269           16.2%         Food Products                        5,999          5,012         19.7%
        5,056          5,615          (10.0)%        Ores and Minerals                    2,828          3,066         (7.8)%
        3,662          3,723           (1.6)%        Stone, Clay & Glass                  2,812          2,723          3.3%
-------------   ------------                                                       ------------   ------------
       33,040         30,850            7.1%                     Total                   23,838         21,309         11.9%
-------------   ------------                                                       ------------   ------------

                                                  Paper & Forest Products

       20,569         20,581           (0.1)%        Pulp/Paper                          15,153         13,967          8.5%
        1,543          1,648           (6.4)%        Scrap Paper                            897            850          5.5%
        8,786          8,670            1.3%         Pulpwood/Logchips                    3,699          3,629          1.9%
        6,798          5,991           13.5%         Lumber/Plywood                       6,115          5,118         19.5%
        4,249          6,081          (30.1)%        Metal/Scrap                          3,534          4,570        (22.7)%
        1,888          1,457           29.6%         Military/Other Carloads              2,607          1,930         35.1%
-------------   ------------                                                       ------------   ------------
       43,833         44,428           (1.3)%                    Total                   32,005         30,064          6.5%
-------------   ------------                                                        ------------   ------------

                                                  Intermodal & Automotive

        5,771         11,545          (50.0)%       Automotive                            3,437          7,116        (51.7)%
       61,216         65,279           (6.2)%       Intermodal                           10,794         11,464         (5.8)%
-------------   ------------                                                      -------------   ------------
       66,987         76,824          (12.8)%                    Total                   14,231         18,580        (23.4)%
-------------   ------------                                                      -------------   ------------

      238,213        239,704           (0.6)%     TOTAL FOR BUSINESS UNITS              130,685        130,141          0.4%

        8,276          8,615           (3.9)%     Haulage                                 3,107          3,026          2.7%

        2,062          2,164           (4.7)%     Adjustments                            (1,266)        (1,183)         7.0%
-------------   ------------                                                      -------------   ------------

      244,427        246,155           (0.7)%                 TOTAL                   $ 132,526      $ 131,984          0.4%
=============   ============                                                      =============   ============
</TABLE>

<PAGE>
<TABLE>

Kansas City Southern Industries, Inc.
Consolidated Balance Sheets
(Dollars in Millions)

<S>                                                                         <C>                                 <C>

                                                                      March 31, 2002                      December 31, 2001
                                                                 -----------------------               -----------------------
                                                                 (Unaudited-Preliminary)

Assets

  Cash                                                                      $       56.8                          $       24.7
  Accounts receivable                                                              129.6                                 130.0
  Inventories                                                                       28.2                                  27.9
  Other current assets                                                              45.1                                  71.8
                                                                 -----------------------               -----------------------
     Total current assets                                                          259.7                                 254.4

  Investments held for operating purposes                                          382.3                                 386.8
  Properties, net of depreciation                                                1,325.2                               1,327.4
  Other assets                                                                      32.7                                  42.3
                                                                 -----------------------               -----------------------
      Total assets                                                          $    1,999.9                          $    2,010.9
                                                                 =======================               =======================

Liabilities and Stockholders' Equity

  Current portion of long-term debt                                         $       47.9                          $       46.7
  Accounts payable                                                                  41.7                                  50.4
  Accrued liabilities                                                              163.3                                 160.4
                                                                 -----------------------               -----------------------
     Total current liabilities                                                     252.9                                 257.5

  Long-term debt                                                                   580.0                                 611.7
  Deferred income taxes                                                            371.1                                 370.2
  Other                                                                             97.2                                  91.2
  Stockholders' equity                                                             698.7                                 680.3
                                                                 -----------------------               -----------------------
    Total liabilities and stockholders' equity                              $    1,999.9                          $    2,010.9
                                                                 =======================               =======================

</TABLE>
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{"company-data": {"conformed-name": "KANSAS CITY SOUTHERN INDUSTRIES INC", "cik": "0000054480", "assigned-sic": "4011", "irs-number": "440663509", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-04717", "film-number": "02630713"}, "business-address": {"street1": "114 W 11TH ST", "city": "KANSAS CITY", "state": "MO", "zip": "64105", "phone": "8169831303"}, "mail-address": {"street1": "114 WEST 11TH STREET", "city": "KANSAS CITY", "state": "MO", "zip": "64105"}}
SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the

                         Securities Exchange Act of 1934

                 Date of Report (Date of earliest event reported):
                                  April 25, 2002

                       KANSAS CITY SOUTHERN INDUSTRIES, INC.
                       -------------------------------------
                (Exact name of company as specified in its charter)

       DELAWARE                  1-4717                   44-0663509
---------------------         -------------           -------------------
(State or other jurisdiction  (Commission file           (IRS Employer
   of incorporation)             number)              Identification Number)

                 427 West 12th Street, Kansas City, Missouri 64105
                 -------------------------------------------------
                (Address of principal executive offices) (Zip Code)

                 Company's telephone number, including area code:

                                (816) 983 - 1303

                   114 West 11th Street, Kansas City, Missouri
          (Former name or former address if changed since last report)
Item 7.     Financial Statements and Exhibits

(c)         Exhibits

            Exhibit No.                         Document

            (99)                                Additional Exhibits

            99.1                                Press Release issued by Kansas
                                                City Southern Industries, Inc.
                                                dated April 25, 2002 entitled,
                                                "Kansas City Southern's  First
                                                Quarter 2002 Earnings Per Share
                                                Nearly Doubles Compared to Prior
                                                Year First Quarter", is attached
                                                hereto as Exhibit 99.1

            99.2                                The following schedules are
                                                attached hereto as Exhibit 99.2
                                                -  Kansas City Southern Railway
                                                Operating Statements, Kansas
                                                City Southern Railway
                                                Carloadings by Commodity, Kansas
                                                City Southern Industries, Inc.
                                                Consolidated Balance Sheets

Item 9.     Regulation FD Disclosure

Kansas City Southern Industries,  Inc. ("KCSI" or "Company") is furnishing under
Item 9 of this Current  Report on Form 8-K the  information  included as Exhibit
99.1 and  Exhibit  99.2 of this  report.  Exhibit  99.1 is the  Company's  press
release,  dated April 25, 2002,  announcing  KCSI's first quarter 2002 operating
results.  Included in Exhibit 99.2 are  schedules  regarding  certain  financial
information discussed at the Company's first quarter 2002 conference call.

The information  included in this Current Report on Form 8-K,  including Exhibit
99.1 and Exhibit 99.2,  is furnished  pursuant to Item 9 and shall not be deemed
to be "filed" for the purposes of Section 18 of the  Securities  Exchange Act of
1934 or otherwise subject to the liabilities of that Section.
SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company
has duly  caused  this  Report  to be signed  on its  behalf by the  undersigned
hereunto duly authorized.

                                           Kansas City Southern Industries, Inc.

Date: May 1, 2002                          By: /s/  Louis G. Van Horn
                                              ----------------------------
                                                    Louis G. Van Horn
                                             Vice President and Comptroller
                                             (Principal Accounting Officer)
EXHIBIT 99.1
Kansas City Southern Industries, Inc.
427 West 12th Street
Kansas City, Missouri 64105

Date:             April 25, 2002

Media Contact:    William H. Galligan           816/983-1551
                  William.h.galligan@kcsr.com

    Kansas City Southern's First Quarter 2002 Earnings Per Share Nearly Doubles

                      Compared to Prior Year First Quarter

Earnings Analysis & Commentary

Kansas City Southern Industries,  Inc. ("KCSI" or the "Company") reported a $5.8
million  increase in net income for the first  quarter of 2002 to $11.7  million
(19(cent)  per diluted  share)  compared to $5.9 million  (10(cent)  per diluted
share) for the first quarter of 2001. This quarter to quarter increase  resulted
primarily from a $8.8 million decline in operating expenses,  a $3.9 decrease in
interest  expense,  a $3.4  million  increase in other income and a $4.4 million
gain  realized  on the sale of  Mexrail,  Inc.  ("Mexrail"-  a former  49% owned
unconsolidated  affiliate)  to KCSI's  affiliate  in Mexico,  TFM,  S.A. de C.V.
("TFM").  These factors, which led to an increase in net income, were reduced by
a $1.5  million  decline in revenue,  a $6.3  million  decrease in equity in net
earnings of unconsolidated  affiliates and a $7.3 million increase in the income
tax  provision.  Net income for the first  quarter of 2001 also  includes a $0.4
million  charge  relating  to  the  implementation  of  Statement  of  Financial
Accounting Standard No. 133,  Accounting for Derivative  Instruments and Hedging
Activities  ("SFAS 133").  This charge is presented as a cumulative effect of an
accounting change for the quarter ended March 31, 2001.

Diluted earnings per share information is as follows:
                                                             First Quarter

                                                           ------------------
                                                             2002      2001
                                                           --------  --------

          U.S. operations                                  $  0.18   $  0.00
          Grupo TFM and PCRC (including associated Grupo
            TFM interest)                                     0.01      0.10
                                                           --------  --------
          Income before cumulative effect of accounting
            change                                            0.19      0.10
          Cumulative effect of accounting change, net of
             income tax                                        -        0.00
                                                           --------  --------
              Diluted earnings per share - Net income      $  0.19   $  0.10
                                                           ========  ========

Domestic  operating income of $13.4 million for the quarter ended March 31, 2002
was more than double the $6.1 million  reported for the first quarter of 2001 as
lower  operating  expenses  of $8.8  million  offset a $1.5  million  decline in
revenue  quarter  to  quarter.  First  quarter  revenue  from  KCSI's  principal
subsidiary, The Kansas City Southern Railway Company ("KCSR") increased slightly
compared with the prior year quarter due to increases in coal,  agriculture  and
minerals and paper and forest products that were mostly mitigated by declines in
chemical and petroleum  products,  intermodal and automotive  revenues and other
non-carload  revenue.  Revenue from other  subsidiaries was  approximately  $1.7
million lower quarter to quarter due to demand  driven  volume  declines.  Lower
costs and expenses at KCSR  resulted  mostly from declines in costs for salaries
and wages, fuel, car hire and casualties.  The decline in costs for salaries and
wages reflects improved operational  efficiency as well as the benefits from the
cost reduction strategy implemented at the end of March 2001, that included a 6%
reduction of employees  compared to the first  quarter of 2001.  Fuel costs were
substantially lower due to an approximate $0.20 decline in the average price per
gallon arising
from market  conditions and the Company's  forward purchase position at December
31,  2001.  Casualty  expenses  were  lower due to the  absence  of  significant
derailment and personal  injury  casualty  events  experienced  during the first
quarter of 2001. These factors  contributed to a lower operating ratio for KCSR,
which  improved to 87.2% for the quarter  ended March 31, 2002 compared to 94.0%
for the same period in 2001.

Equity in earnings from Grupo Transportacion  Ferroviaria Mexicana, S.A. de C.V.
("Grupo TFM") declined  approximately  $6.3 million quarter to quarter.  For the
quarter  ended  March 31,  2001,  however,  equity  in  earnings  reflected  the
Company's proportionate share ($9.1 million) of the income recorded by Grupo TFM
relating  to  the  reversion  of  certain   concession  assets  to  the  Mexican
government.  Exclusive of this 2001 reversion income,  KCSI's first quarter 2002
equity in earnings from Grupo TFM increased $2.8 million compared to last year's
first quarter.  Grupo TFM's first quarter 2002 revenues  improved 1% compared to
the first quarter of 2001 and operating  expenses were slightly lower quarter to
quarter.  Under International  Accounting  Standards ("IAS"),  Grupo TFM's first
quarter  2002  operating  ratio was 77.3%  versus 79.8% in the same 2001 period.
First quarter 2002 results for Grupo TFM include a $3.5 million  deferred income
tax benefit  (calculated under accounting  principles  generally accepted in the
United States of America -"U.S. GAAP") compared to a deferred income tax expense
of $21.7  million in the first  quarter of 2001.  This variance was caused by an
income tax  provision on the reversion  income  recorded in the first quarter of
2001, as well as  fluctuations  in the peso exchange  rate and  inflation.  Also
contributing to Grupo TFM's deferred income tax calculation in the first quarter
of 2002 was an approximate  $1.7 million  expense arising from the change in the
Mexican corporate income tax rate, which is being reduced from 35% to 32% in one
percent  increments  beginning in 2003.  Under U.S.  GAAP, the impact of this 3%
rate  reduction  was  recognized  for deferred  income tax purposes in the first
quarter of 2002.  After  consideration  of minority  interest,  this rate change
resulted in a $0.5  million  reduction  in the  Company's  equity in earnings of
Grupo TFM during the first  quarter of 2002.  The Company  reports its equity in
Grupo TFM under U.S. GAAP while Grupo TFM reports under IAS.

KCSI's  consolidated  first quarter 2002 interest expense decreased $3.9 million
(26%) from the prior year quarter as a result of lower  interest rates and lower
overall debt balances. Other items affecting the Company's first quarter results
include a gain on the sale of Mexrail of  approximately  $4.4 million and a $3.3
million gain on the sale of  non-operating  property.  The gain from the sale of
Mexrail is presented as a separate item in the accompanying financial statements
and the gain on  non-operating  property is  reflected  as other  income for the
quarter ended March 31, 2002.

BUSINESS ANALYSIS AND OUTLOOK FROM THE CHAIRMAN

Michael R. Haverty,  KCSI Chairman,  President and Chief Executive Officer said,
"we  continue  to  make   progress   toward  our  goal  of  improving   domestic
profitability and reducing  corporate debt. Despite the impact of the continuing
lagging  economy,  KCS was able to maintain its revenue during the first quarter
of 2002 and more than double its operating  income versus the  comparable  prior
year quarter.  Also, we believe the recently announced  marketing agreement with
BNSF will provide important opportunities to grow our revenue base, particularly
in the chemical, grain and forest product markets.

The Company has been  aggressively  reducing its debt balance since the spin-off
of Stilwell  Financial Inc. in July 2000. Our corporate debt balance at the date
of the spin-off was approximately $682 million.  This compares to a debt balance
of  approximately  $658  million at  December  31, 2001 and  approximately  $628
million at March 31, 2002. Additionally, since the end of March, we have further
reduced  our debt  balance  by  approximately  $25  million  through  additional
payments.  This trend has been made possible through focused cost control, sound
cash  management  and the sale of various  assets,  including our  investment in
Mexrail
to TFM in  March  2002.  We  will  continue  to  place a high  priority  on debt
reduction and are exploring options for furthering this objective.

We are  pleased  that the  dispute  with our  Mexican  partner,  Grupo TMM,  was
resolved in a manner  satisfactory for both parties. We believe that the Mexrail
transaction  will help promote  better  operational  efficiency and provide more
synergistic opportunities for the NAFTA rail network.

Grupo TFM continues to contribute  solid results in a weak economy.  We are more
confident than ever with the long-term  growth prospects of this rail franchise.
Through  its  unique  growth  story,  Grupo  TFM  has  become  one of  the  rail
transportation  leaders in North America and comprises a significant part of the
value of our NAFTA rail  network.  We,  along with our  partner,  Grupo TMM, are
continuing to pursue the purchase of the Mexican government's 24.6% ownership in
Grupo  TFM.  Our call  option  expires  on July  31,  2002  and we  expect  this
transaction to be completed during the second quarter.

2002 is a year of renewed  spirit and attitude for KCS.  During early April,  we
moved  to a  new  corporate  headquarters  building  in  downtown  Kansas  City,
Missouri, just blocks away from the old address that housed us for approximately
75 years.  Not only does this new facility  provide our employees  with a modern
and functional work environment,  it symbolizes a new era for KCS. We are nearly
two years removed from the spin-off of the  financial  services  companies  into
Stilwell  Financial  and,  in  that  time,  we  renewed  our  focus  on  being a
transportation  company.  Additionally,  we are planning to change our corporate
name to Kansas City Southern,  thereby  dropping  "Industries,  Inc.",  which we
believe more accurately reflects this focus as a transportation company. The new
building  and name  change  represent,  both in form and  function,  that KCS is
committed to being a strong player in the rail industry.

We are not certain when the economy  will improve for the long term,  but we are
ready.  As we approach the remainder of 2002,  our  operations  are running very
efficiently  and our cost structure is well  controlled.  We believe that KCS is
poised to take advantage of a rebounding  economy when it occurs and turn future
revenue growth into increased  profitability.  Our pledge to the shareholders of
KCS is to build long-term value through  continued  growth and by maximizing the
potential of our NAFTA rail network."

KCSI is comprised of, among others,  The Kansas City  Southern  Railway  Company
("KCSR")  and equity  investments  in Grupo TFM,  Southern  Capital  Corporation
("Southern Capital") and Panama Canal Railway Company ("PCRC").

This press  release  includes  statements  concerning  potential  future  events
involving  the  Company,  which  could  materially  differ  from the events that
actually occur. The differences could be caused by a number of factors including
those factors  identified in KCSI's  December 31, 2001 Form 10-K and the Current
Report on Form 8-K dated  December 11, 2001,  each filed by the Company with the
Securities and Exchange  Commission  ("SEC")  (Commission file no. 1-4717).  The
Company will not update any forward-looking  statements in this press release to
reflect future events or developments.

                        (Financial Information Attached)
KANSAS CITY SOUTHERN INDUSTRIES, INC.
                                          CONSOLIDATED CONDENSED STATEMENTS OF INCOME
                                         (dollars in millions, except per share data)
                                                          (Unaudited)
Three Months
                                                                                              Ended March 31,

                                                                                     -----------------------------------
                                                                                          2002                 2001
                                                                                     --------------       --------------
Revenues                                                                                  $   142.5            $   144.0

Costs and expenses                                                                            114.2                123.5
Depreciation and amortization                                                                  14.9                 14.4
                                                                                     --------------       --------------
Operating income                                                                               13.4                  6.1
Equity in net earnings of unconsolidated affiliates:
    Grupo Transportacion Ferroviaria Mexicana, S.A. de C.V. (preliminary)                       4.8                 11.1 (1)
    Other                                                                                       0.1                  0.1
Gain on sale of Mexrail, Inc.                                                                   4.4                    -
Interest expense                                                                              (11.3)               (15.2)
Other, net                                                                                      4.4                  1.0
                                                                                     --------------       --------------
Income before income taxes and cumulative effect of accounting change                          15.8                  3.1
Income tax provision (benefit)                                                                  4.1                 (3.2)
                                                                                     --------------       --------------
Income before cumulative effect of accounting change                                      $    11.7            $     6.3
Cumulative effect of accounting change, net of income taxes                                     -                   (0.4)
                                                                                     --------------       --------------
Net Income                                                                                $    11.7            $     5.9
                                                                                     ==============       ==============
(1)  Includes $9.1 million of income from the reversion of redundant rail line to Mexican government

Per Share Data:

Basic Weighted Average Common shares outstanding (in thousands)                              59,777               58,257

Basic Earnings (Loss) per Common share

       Income before cumulative effect of accounting change                               $    0.20            $    0.11
       Cumulative effect of accounting change                                                    -                 (0.01)
                                                                                     --------------       --------------

Net Income                                                                                $    0.20            $    0.10
                                                                                     ==============       ==============

Diluted Weighted Average Common shares outstanding (in thousands)                            61,842               60,776

Diluted Earnings (Loss) per Common share

       Income before cumulative effect of accounting change                               $    0.19            $    0.10
       Cumulative effect of accounting change                                                    -                  0.00
                                                                                     --------------       --------------

Net Income                                                                                $    0.19            $    0.10
                                                                                     ==============       ==============
EXHIBIT 99.2

Kansas City Southern Railway
Operating Statements
Dollars in Millions
First Quarter             First Quarter                  Year Ended
                                                     2002                     2001                          2001
                                            ----------------------    ---------------------         ---------------------
Revenues

    Freight Revenue                                  $        86.9            $        83.4                 $       340.3
    Intermodal and Automotive Revenue                         14.2                     18.6                          66.0
    Unit Coal Revenue                                         28.3                     26.9                         115.8
    Haulage Revenue                                            3.1                      3.0                          13.0
                                                               7.9                      8.2                          31.3
                                            ----------------------    ---------------------         ---------------------
      Total Revenues                                         140.4                    140.1                         566.4
                                            ----------------------    ---------------------         ---------------------

Operating Expenses

    Salaries & Wages                                          33.3                     35.3                         133.7
    Fringe Benefits                                           14.8                     12.2                          54.0
    Fuel                                                       9.5                     12.4                          43.9
    Material and Supplies                                      7.8                      7.3                          27.5
    Car Hire                                                   5.2                      6.5                          19.8
    Purchased Services                                        11.8                     11.0                          47.7
    Casualties & Insurance                                     7.5                     14.5                          40.6
    Other                                                      2.0                      3.2                          10.3
                                            ----------------------    ---------------------         ---------------------
      Net Operating Expenses                                  91.9                    102.4                         377.5
                                            ----------------------    ---------------------         ---------------------

Fixed Expenses

    Leases, Net                                               13.0                     13.4                          54.6
    Depreciation                                              13.9                     13.4                          54.1
    Taxes (Other Than Income)                                  3.6                      2.5                          13.2
                                            ----------------------    ---------------------         ---------------------
      Total Fixed Expenses                                    30.5                     29.3                         121.9
                                            ----------------------    ---------------------         ---------------------
      Total Expenses                                         122.4                    131.7                         499.4
                                            ----------------------    ---------------------         ---------------------

Operating Income                                     $        18.0             $        8.4                 $        67.0
Kansas City Southern Railway
Carloadings By Commodity - Year to Date March 31, 2002
Dollars in Thousands
Carloadings                                                                          Revenue

                Year to Date            %                                                         Year to Date         %
 -------------------------------------------                                       ----------------------------------------
    2002            2001           Change                                              2002            2001        Change
 ------------   ------------    ------------                                       ------------   ------------  -----------

                                                  Coal

       57,592         45,194           27.4%         Unit Coal                        $  28,281      $  26,941          5.0%
          881          1,253          (29.7)%        Other Coal                             459            675        (32.0)%
 ------------   ------------    ------------                                       ------------   ------------  -----------
       58,473         46,447           25.9%                     Total                   28,740         27,616          4.1%

                                                  Chemical & Petroleum Products

        1,821          1,869           (2.6)%        Agri Chemicals                       1,404          1,438         (2.4)%
        3,240          2,795           15.9%         Gases                                3,119          2,602         19.9%
        5,414          5,712           (5.2)%        Organic                              5,424          5,694         (4.7)%
        4,864          4,792            1.5%         Inorganic                            5,158          4,887          5.5%
       13,087         18,992          (31.1)%        Petroleum                            9,650         10,778        (10.5)%
        7,454          6,995            6.6%         Plastics                             7,116          7,173         (0.8)%
-------------   ------------                                                       ------------   ------------
       35,880         41,155          (12.8)%                    Total                   31,871         32,572         (2.2)%
-------------   ------------                                                       ------------   ------------

                                                  Agriculture and Minerals

       12,124         12,061            0.5%         Domestic Grain                       8,388          8,216          2.1%
        4,915          3,182           54.5%         Export Grain                         3,811          2,292         66.3%
        7,283          6,269           16.2%         Food Products                        5,999          5,012         19.7%
        5,056          5,615          (10.0)%        Ores and Minerals                    2,828          3,066         (7.8)%
        3,662          3,723           (1.6)%        Stone, Clay & Glass                  2,812          2,723          3.3%
-------------   ------------                                                       ------------   ------------
       33,040         30,850            7.1%                     Total                   23,838         21,309         11.9%
-------------   ------------                                                       ------------   ------------

                                                  Paper & Forest Products

       20,569         20,581           (0.1)%        Pulp/Paper                          15,153         13,967          8.5%
        1,543          1,648           (6.4)%        Scrap Paper                            897            850          5.5%
        8,786          8,670            1.3%         Pulpwood/Logchips                    3,699          3,629          1.9%
        6,798          5,991           13.5%         Lumber/Plywood                       6,115          5,118         19.5%
        4,249          6,081          (30.1)%        Metal/Scrap                          3,534          4,570        (22.7)%
        1,888          1,457           29.6%         Military/Other Carloads              2,607          1,930         35.1%
-------------   ------------                                                       ------------   ------------
       43,833         44,428           (1.3)%                    Total                   32,005         30,064          6.5%
-------------   ------------                                                        ------------   ------------

                                                  Intermodal & Automotive

        5,771         11,545          (50.0)%       Automotive                            3,437          7,116        (51.7)%
       61,216         65,279           (6.2)%       Intermodal                           10,794         11,464         (5.8)%
-------------   ------------                                                      -------------   ------------
       66,987         76,824          (12.8)%                    Total                   14,231         18,580        (23.4)%
-------------   ------------                                                      -------------   ------------

      238,213        239,704           (0.6)%     TOTAL FOR BUSINESS UNITS              130,685        130,141          0.4%

        8,276          8,615           (3.9)%     Haulage                                 3,107          3,026          2.7%

        2,062          2,164           (4.7)%     Adjustments                            (1,266)        (1,183)         7.0%
-------------   ------------                                                      -------------   ------------

      244,427        246,155           (0.7)%                 TOTAL                   $ 132,526      $ 131,984          0.4%
=============   ============                                                      =============   ============
Kansas City Southern Industries, Inc.
Consolidated Balance Sheets
(Dollars in Millions)
March 31, 2002                      December 31, 2001
                                                                 -----------------------               -----------------------
                                                                 (Unaudited-Preliminary)

Assets

  Cash                                                                      $       56.8                          $       24.7
  Accounts receivable                                                              129.6                                 130.0
  Inventories                                                                       28.2                                  27.9
  Other current assets                                                              45.1                                  71.8
                                                                 -----------------------               -----------------------
     Total current assets                                                          259.7                                 254.4

  Investments held for operating purposes                                          382.3                                 386.8
  Properties, net of depreciation                                                1,325.2                               1,327.4
  Other assets                                                                      32.7                                  42.3
                                                                 -----------------------               -----------------------
      Total assets                                                          $    1,999.9                          $    2,010.9
                                                                 =======================               =======================

Liabilities and Stockholders' Equity

  Current portion of long-term debt                                         $       47.9                          $       46.7
  Accounts payable                                                                  41.7                                  50.4
  Accrued liabilities                                                              163.3                                 160.4
                                                                 -----------------------               -----------------------
     Total current liabilities                                                     252.9                                 257.5

  Long-term debt                                                                   580.0                                 611.7
  Deferred income taxes                                                            371.1                                 370.2
  Other                                                                             97.2                                  91.2
  Stockholders' equity                                                             698.7                                 680.3
                                                                 -----------------------               -----------------------
    Total liabilities and stockholders' equity                              $    1,999.9                          $    2,010.9
                                                                 =======================               =======================