Exhibit No. 99.2


 BANKRUPTCY COURT CONFIRMS SALE OF ASSETS TO TCF RAILCO ACQUISITION CORPORATION


LOMBARD, IL DECEMBER 11, 2001 - ABC-NACO Inc. announced that the U.S. Bankruptcy
Court for the Northern District of Illinois entered an order approving the
previously announced sale of certain of its assets to TCF Railco Acquisition
Corp ("TCF"). As announced previously, ABC-NACO agreed to sell all of its
operating assets to TCF for $75 million (subject to certain adjustments and
assumption of certain liabilities). The assets sold include all of the United
States operating assets of the Company's Rail Products, Track Products and Rail
Services units together with the stock of the Company's subsidiaries in Europe
and its joint ventures in China. The Canadian and Mexican subsidiaries in the
Rail Products Group were not included in this sale.

The sale of the assets to TCF was completed in accordance with the
court-authorized sales process. The sale is subject to review under the
Hart-Scott-Rodino Antitrust Improvements Act. The parties intend to close the
sale as soon as possible after the necessary approvals have been received.

After the closing, the assets purchased by TCF will operate under the ownership
of TCF. Certain assets that were not included in this sale will be liquidated
with the proceeds left in the debtor estate of ABC-NACO. These proceeds together
with the proceeds from the sale to TCF will be used to satisfy the claims of
ABC-NACO creditors. Since the Company has senior secured bank and other debt in
excess of $170 million, it is unlikely that there will be proceeds available to
satisfy the claims of unsecured creditors or to provide any recovery to
shareholders.

TCF is owned by Three Cities Funds III, L.P. and affiliates (together, the
"Three Cities Funds"). The Three Cities Funds are primarily engaged in making
control investments in medium-sized companies, where its investment can lead to
a meaningful, positive influence on the future direction of the enterprise.

As previously announced on October 18, 2001, ABC-NACO and its U.S. subsidiaries
voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy
Code in the U.S. Bankruptcy Court for the Northern District of Illinois. The
cases have been assigned to the Honorable Judge Eugene R. Wedoff and are being
jointly administered under the Case No. 01 B 36484 for ABC-NACO Inc.

The Company is one of the world's leading suppliers of technologically advanced
products to the rail industry. The Company holds pre-eminent market positions in
the design, engineering and manufacture of high-performance freight car,
locomotive and passenger suspension and coupling systems, wheels and mounted
wheel sets. The Company also supplies railroad and transit infrastructure
products and services and technology-driven specialty track products.



SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995:

The statements contained in this release, which are not historical facts, may be
deemed to be forward-looking statements that are subject to change based on
various factors, which may be beyond the control of ABC-NACO Inc. Accordingly,
actual results could differ materially from those expressed or implied in any
such forward-looking statement. Factors that could affect actual results are
described more fully in the Company's Amended Annual Report on Form 10-K/A for
the year ended December 31, 2000, under the captions "Recent Developments" and
"Regarding Forward Looking Statements," and other risks described from time to
time in the Company's filings with the Securities and Exchange Commission. The
Company undertakes no obligation to update any forward-looking statement to
reflect events or circumstances after the date on which such statement is made.

Contacts:

FOR ABC-NACO INVESTORS:
-----------------------
Wayne R. Rockenbach

Senior Vice President and CFO

630-792-2010

FOR U.S./INTERNATIONAL MEDIA:
-----------------------------
Wendy Bennett

Director Corporate Communications

630-792-2010