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                                                                    EXHIBIT 99.2

      REPORT OF ERNST & YOUNG LLP, INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

CSXT Trade Receivables Master Trust
c/o The Chase Manhattan Bank, as Trustee


We have examined the twelve monthly CSXT Trade Receivables Master Trust
Certificateholders' Distribution Date Statements filed on Form 8-K, with the
Securities and Exchange Commission during the fiscal year ended December 28,
2001 with respect to the 6.00% Trade Receivables Participation Certificates,
Series 1998-1 (the "Statements") prepared by CSX Transportation, Inc. as
Servicer, in compliance with Section 5.02(a) of the Series 1998-1 Supplement
dated as of June 17, 1998 (the "Supplement"), to the Amended and Restated
Pooling and Servicing Agreement dated as of October 27, 1993, (the "Agreement"),
among CSX Trade Receivables Corporation, Seller, CSX Transportation, Inc.,
Servicer, and The Chase Manhattan Bank, Trustee. We have also examined CSX
Transportation, Inc.'s management's assertion, included in its representation
letter dated March 19, 2002 that the servicing has been conducted in compliance
with the terms and conditions as set forth in Article III, Article IV and
Section 8.08 of the Agreement. CSX Transportation, Inc.'s management is
responsible for preparing the Statements in compliance with the applicable
section of the Supplement and also for the Servicer's compliance with the
applicable requirements of the Agreement. Our responsibility is to express an
opinion on the Statements and on management's assertion about the Servicer's
compliance with the terms and conditions referred to above based on our
examination.

Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly, included
examining, on a test basis, evidence about the Statements and the Servicer's
compliance with the applicable requirements of the Agreement, and performing
such other procedures as we considered necessary in the circumstances. We
believe that our examination provides a reasonable basis for our opinion. Our
examination does not provide a legal determination on the Servicer's compliance
with applicable requirements of the Agreement.

In our opinion, the Statements referred to above are presented fairly, in all
material respects, in accordance with Section 5.02(a) of the Supplement, and
management's assertion that the servicing has been conducted by the Servicer in
compliance with the terms and conditions as set forth in Article III, Article IV
and Section 8.08 of the Agreement during the fiscal year ended December 28, 2001
is fairly stated, in all material respects.

We have also compared the mathematical calculations of each amount set forth in
the Statements referred to above with the Servicer's computer reports which were
the source of such amounts and found them to be in agreement pursuant to Section
3.07(b) of the Agreement. The sufficiency of this procedure is solely the
responsibility of the specified users of the report. Consequently, we make no
representation regarding the sufficiency of this procedure for the propose for
which this report has been requested or for any other purpose.

This report is intended solely for the information and use of CSX Trade
Receivables Corporation, Seller, CSX Transportation, Inc., Servicer, and The
Chase Manhattan Bank, Trustee, and is not intended to be and should not be used
by anyone other than these specified parties.

                                              /s/  ERNST & YOUNG, LLP
                                              ------------------------
                                              Ernst & Young LLP

March 19, 2002
Jacksonville, Florida

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