Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
WEYANDT PAUL J
   2. Issuer Name and Ticker or Trading Symbol
KANSAS CITY SOUTHERN [KSU] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Sr. Vice President & Treasurer
(Last)
(First)
(Middle)
KANSAS CITY SOUTHERN, PO BOX 219335		 3. Date of Earliest Transaction (Month/Day/Year)
08/08/2008
(Street)

KANSAS CITY, MO 64121-9335		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 08/08/2008   M   797 A $ 12.5525 31,019 (2) D  
Commont Stock 08/08/2008   M   8,000 A $ 14.6 39,019 (2) D  
Common Stock 08/08/2008   M   813 A $ 14.53 39,832 (2) D  
Common Stock 08/08/2008   S   9,610 D $ 52.676 (1) 30,222 (2) D  
Common Stock               0.795 I By ESOP (3)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option (Right to Buy) (4) $ 12.55 08/08/2008   M(7)     797   (5) 01/15/2013 Common Stock 797 $ 0 0 D  
LSAR (4) $ 12.55 08/08/2008   J(7)     797   (4)   (4) Common Stock 797 $ 0 0 D  
Option (Right to Buy) (4) $ 12.55             01/16/2008 01/15/2013 Common Stock 15,000   15,000 D  
LSAR (4) $ 12.55               (4)   (4) Common Stock 15,000   15,000 D  
Option (Right to Buy) (4) $ 14.6 08/08/2008   M(7)     8,000 01/02/2005 01/01/2014 Common Stock 8,000 $ 0 0 D  
LSAR (4) $ 14.6 08/08/2008   J(7)     8,000   (4)   (4) Common Stock 8,000 $ 0 0 D  
Option (Right to Buy) (4) $ 14.53 08/08/2008   M(7)     813   (6) 02/08/2014 Common Stock 813 $ 0 0 D  
LSAR (4) $ 14.53 08/08/2008   J(7)     813   (4)   (4) Common Stock 813 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
WEYANDT PAUL J
KANSAS CITY SOUTHERN
PO BOX 219335
KANSAS CITY, MO 64121-9335		       Sr. Vice President & Treasurer  

Signatures

 Brian P. Banks, Attorney-in-fact   08/11/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The price in Column 4 is a weighted average price. The prices actually ranged from $52.66 to $52.73. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
(2) Includes 2,003 performance shares that were earned on February 28, 2008 when the KCS Compensation and Organization Committee determined that the 2007 performance goals were met. These performance shares will not vest until January 17, 2010 contingent upon continued employment by the reporting person through that date. With respect to these shares, the reporting person does not have the right to vote, receive, or be entitled to receive, cash or non-cash dividends or any other beneficial rights as a shareholder of the Company.
(3) 0.795 shares have accrued to the reporting person's account under the KCS Employee Stock Ownership Plan.
(4) Limited Stock Appreciation Rights ("LSARs") are granted in tandem with stock options. LSARs become exercisable only following a change-in-control of the Company in lieu of related options and are exercisable only for cash. LSARs terminate when the related options are exercised or terminated.
(5) These options are exercisable in installments: 160 on June 23, 2003, 160 on June 23, 2004, 160 on June 23, 2005 and 317 on June 23, 2006.
(6) These options are exercisable in installments: 162 on February 9, 2004, 163 on June 23, 2004, 162 on June 23, 2005 and 326 on June 23, 2006.
(7) Options exercised in rule 16b-3 exempt transaction. LSARs canceled with respect to such shares.

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