New York Regional Rail Corp. To Participate in OP-Sail 2000: The Largest 4th of July Celebration in the History of New York Harbor

Business Wire, June 29, 2000

Business Editors

NEW YORK--(BUSINESS WIRE)--June 29, 2000

The New York Regional Rail Corporation (OTCBB: NYRR) is pleased to announce that it will be participating in the Millennium Celebration, Operation Sail 2000. Endorsed by the President of the United States and designated an official event by a unanimous resolution of Congress, OpSail 2000, International Naval Review 2000 and the Macy's July 4th Fireworks will represent the largest July 4th celebration in the history of New York Harbor. NYRR's railbarges have been chartered to serve as launching platforms for the Macy's Fireworks show.

Sal Catucci, Chairman of the Board of Directors for NYRR stated, "We are thrilled to be participating in this exciting and important celebration. Op-sail 2000 gives the City a chance to showcase the newly re-vitalized Port of New York to the Country and the World. This celebration will be a source of pride for not only NYRR but all New Yorkers."

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.