New York Regional Rail Corp. Announces New CFO and Accounting Firm

Business Wire, June 13, 2000

Business/Transportation Editors

NEW YORK--(BUSINESS WIRE)--June 13, 2000

The Board of Directors for New York Regional Rail Corporation (OTCB:NYRR) has appointed board member Joel Marcus C.P.A as Chief Financial Officer for NYRR.

Mr. Marcus has numerous years of experience in corporate accounting for public companies. Mr. Marcus, who currently sits on the Board's Audit Committee, will be charged with all aspects of accounting including SEC filings and tax issues. In addition, he will oversee the bookkeeping for both the rail and trucking operations.

Joel Marcus stated, "I am very pleased to assume the position of CFO. Over the past year JST's revenue growth has been explosive. Additionally, support for Cross Harbor's unique railfloat operations has dramatically increased because of its efficiency and its ability to reduce both truck traffic and harmful emissions in the NYC metropolitan area. I feel NYRR's future growth potential for both its rail and trucking subsidiaries is substantial."

The NYRR Board also announced that it has retained the larger accounting firm of Feldman, Sherb, Horowitz & Co. as its independent certified public accountant. Newly appointed CFO Joel Marcus stated, "With its broad knowledge of the transportation industry, this firm is well suited for NYRR's expanding accounting needs. Feldman, Sherb, Horowitz & Co. has the corporate accounting experience NYRR needs for its growing business."

W. Robert Bentley, President of NYRR stated, "We are very pleased to welcome Feldman, Sherb, Horowitz & Co. to the NYRR team. We are confident that their knowledge and understanding of the transportation industry will better help us meet our needs as we continue our rapid growth."

NEW YORK REGIONAL RAIL is a transportation holding company. Its two principal subsidiaries are New York Cross Harbor Railroad ("NYCH") and JS Transportation ("JST").

NYCH owns the ONLY rail floatbarge operation that crosses New York Harbor, by virtue of its ICC certificate of necessity and convenience. NYCH's operation enables New York City, Long Island and Southern New England to connect to the national rail freight system.

JST is a rapidly growing short haul regional trucking company, whose clients include many Fortune 1,000 companies and other established companies. JST currently serves a six state region including NY, NJ, PA, DE, MD and VA.

Except for historical matters contained herein, the matters discussed in this news release may contain forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may reflect assumptions and involve risks and uncertainties that may affect

New York Regional Rail's and JS Transportation's future business and prospects and could cause actual results to differ materially from these forward-looking statements.