Genesee & Wyoming Inc. Reports Traffic for July 2004

GREENWICH, Conn., Aug. 1, 20042, 2004 -- Genesee & Wyoming Inc. (GWI) today reported July 2004 traffic volumes for its North American and 50%-owned Australian operations.

North American traffic in July 2004 was 52,942 carloads, an increase of 10,057 carloads, or 23.5%, compared with July 2003. Australian traffic in July 2004 was 80,036 carloads, an increase of 9,683 carloads, or 13.8%, compared with July 2003.

The table below sets forth North American carloading information for July 2004 and July 2003:

        North America by            July     % of   July     % of
        Commodity Group             2004    Total   2003    Total

        Coal Coke & Ores          17,126   32.4%  13,649   31.8%
        Pulp & Paper               7,712   14.6%   6,479   15.1%
        Lumber & Forest Products   6,403   12.1%   4,667   10.9%
        Metals                     5,823   11.0%   4,108    9.6%
        Minerals & Stone           5,325   10.1%   5,286   12.3%
        Petroleum Products         2,756    5.2%   2,608    6.1%
        Farm & Food Products       2,651    5.0%   2,230    5.2%
        Chemicals                  2,511    4.7%   2,143    5.0%
        Intermodal                   659    1.2%     435    1.0%
        Autos & Auto Parts           655    1.2%     640    1.5%
        Other                      1,321    2.5%     640    1.5%

        Total                     52,942  100.0%  42,885  100.0%

North American carloads in July 2004 increased by 10,057 carloads, or 23.5%. Excluding 3,678 carloads from three railroads acquired from Georgia- Pacific Corp., which GWI started operating January 1, 2004, North American traffic in July 2004 increased by 6,379 carloads, or 14.9%. This same- railroad increase was primarily due to a 3,421 carload increase in coal, coke & ores traffic, driven by the Utah, New York-Pennsylvania, and Illinois Regions, and a 1,585 carload increase in metals traffic, primarily in the New York-Pennsylvania Region. All other commodities increased by a net 1,373 carloads.

The table below sets forth carloading information for GWI's 50%-owned Australian operations for July 2004 and July 2003:

        Australia by              July     % of   July     % of
        Commodity Group           2004    Total   2003    Total

        Grain                    22,827   28.5%  11,925   17.0%
        Iron Ores                14,498   18.1%  15,354   21.8%
        Alumina                  13,233   16.5%  12,919   18.4%
        Bauxite                  10,190   12.7%  10,961   15.6%
        Other Ores & Minerals     9,500   11.9%   9,670   13.7%
        Gypsum                    3,890    4.9%   3,918    5.5%
        Hook & Pull                 311    0.4%     699    1.0%
        Other                     5,587    7.0%   4,907    7.0%

        Total                    80,036  100.0%  70,353  100.0%

Australian carloads in July 2004 increased by 9,683 carloads, or 13.8%, compared with July 2003. The increase was primarily the result of a 10,902 carload increase in grain traffic versus the drought-affected carload traffic of the prior year. Iron ore traffic decreased by 856 carloads due to scheduled maintenance at a major customer in South Australia that is expected to conclude by mid-August. All other commodities decreased by a net 363 carloads.

Historically, the Company has found that carload information may be indicative of freight revenues on its railroads, but may not be indicative of total revenues, operating expenses, operating income or net income.

GWI is a leading operator of short line and regional freight railroads in the United States, Canada, Mexico, Australia and Bolivia. The Company operates in five countries on three continents over 8,100 miles of owned and leased track. It also operates over more than 3,000 additional miles under track access arrangements.