STB Approves Louisville & Indiana Track Upgrade

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STB Approves Louisville & Indiana Track Upgrade

$100 million private investment to improve connectivity to global markets

CHICAGO, Ill. and JACKSONVILLE, Fla. - April 10, 2015 - Anacostia Rail Holdings (ARH) and CSX today announced that the U.S. Surface Transportation Board has approved a joint proposal by ARH's subsidiary, Louisville & Indiana Railroad (L&I), and CSX to upgrade a key freight corridor between Indianapolis, Indiana and Louisville, Kentucky.

"These upgrades will benefit L&I and CSX customers in the Midwest and across the companies' networks by improving operational efficiency, allowing more direct transit across Ohio, Indiana and Kentucky, and reducing congestion in those states," said Oscar Munoz, president and chief operating officer, CSX. "The privately funded upgrades, which will include the installation of new rail, upgrades to the rail bed structure and bridge improvements, will enhance service and capacity on this rail line."

CSX's total investment of approximately $100 million will not only benefit L&I's local customers, but will connect the Port of Indiana-Jeffersonville to enhanced rail access, and provide more efficient rail service for freight shipments through the region.

"This project enhances critical rail infrastructure that connects local customers to America's freight transportation network, supporting local manufacturing, economic development, jobs and competitiveness," said Peter Gilbertson, chairman and chief executive officer, Anacostia Rail Holdings.

CSX and L&I appreciate the diligent review of this project by the Surface Transportation Board.

About L&I

The Louisville & Indiana Railroad is based in Jeffersonville, Indiana and has approximately 40 employees. L&I acquired its 106-mile line from Consolidated Rail Corporation and began operations in 1994. This is a former main line of the Pennsylvania Railroad. Since 2000, CSX trains have operated over a 52-mile portion of the corridor between Louisville and Seymour, Indiana, en route to Cincinnati, Ohio.

About Anacostia Rail Holdings

Anacostia Rail Holdings (www.anacostia.com) is a short line railroad holding company. Its railroads operate in seven states and, in addition to L&I, include the Chicago South Shore & South Bend Railroad, Gulf Coast Switching Company, New York & Atlantic Railway, Northern Lines Railway, LLC and Pacific Harbor Line, Inc.

About CSX

CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For nearly 190 years, CSX has played a critical role in the nation's economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation's population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike. More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook (http://www.facebook.com/OfficialCSX) and follow us on

Twitter (http://twitter.com/CSX).

Contacts:

Anacostia Rail Holdings

Peter Gilbertson, Chairman and CEO

312-324-7350

CSX

Kristin Seay, CSX Corporate Communications

404-350-5029