BOCA RATON, Fla. — RailAmerica, Inc., the world’s largest operator of short line and regional freight railroads, today announced that its common stock has been approved for listing on the New York Stock Exchange (NYSE) with trading to commence Wednesday, January 2, 2002. The Company will announce its new ticker symbol prior to commencement of trading. Until then, RailAmerica’s common stock will continue to trade on the Nasdaq National Market.
“Our move to the New York Stock Exchange is primarily motivated by our desire to provide superior market quality for all investors as well as join other industrial-based companies,” said Gary O. Marino, Chairman, President and CEO of RailAmerica. “As the world’s largest operator of short line and regional railroads, listing on the NYSE also offers more visibility. RailAmerica’s decision to leave Nasdaq was not an easy one. However, we believe this change is in the best interest of our shareholders.”
RailAmerica, Inc. (www.railamerica.com), the world’s largest short line and regional railroad operator, currently owns 39 short line and regional railroads operating approximately 11,000 route miles in the United States, Canada, Australia and Chile. In North America, the Company’s railroads operate in 22 states and six Canadian provinces. Internationally, the Company operates an additional 4,300 route miles under track access arrangements in Australia and Argentina. In October 2001, RailAmerica was ranked 85th on Forbes magazine’s list of the 200 Best Small Companies in America; in July 2001, the Company was named to the Russell 2000® Index.