The US Railcar Company DMU was prototyped by Colorado Railcar through a demonstration project in 2002 and is currently the only DMU that is fully compliant with Federal Railroad Administration passenger equipment safety regulations as stated in 49 CFR Part 238. Available in both regional and intercity configurations, the US Railcar Company DMU is well suited for incremental corridor development at speeds from 79-to-90 mph. Platform enhancements currently anticipated include a diesel-electric upgrade, increasing speeds to 125 mph, making this American-made DMU an attractive solution for both mature and emerging passenger rail agencies around the country.About American Railcar Industries, Inc. American Railcar Industries, Inc. is a leading North American manufacturer of hopper and tank railcars. ARI also repairs and refurbishes railcars, provides fleet management services and designs and manufactures certain railcar and industrial components used in the production of its railcars as well as railcars and non-railcar industrial products produced by others. ARI provides its railcar customers with integrated solutions through a comprehensive set of high quality products and related services. ARI is controlled by Carl C. Icahn, the chairman of ARI’s board of directors, through his affiliate, Icahn Enterprises L.P. About Value Recovery Group VRG is an economic development consulting, government advisory services and asset recovery and management firm that represents state and local governments, commercial banks, private investors and several federal agencies. Forward Looking Statement Disclaimer This press release contains forward-looking information that involves risks and uncertainties, including statements regarding the joint venture’s plans, objectives, expectations and intentions. Such statements include, without limitation, statements regarding the joint ventures prospects, the anticipated performance of its railcars, and the anticipated growth of the market and market acceptance for those railcars. These forward-looking statements are based upon assumptions made as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated. Joint ventures and the commencement of a new business involve numerous risks, including difficulties associated with cooperation and conflicts of interest among the parties, delays, unexpected costs, and the risk that newly introduced products may contain undetected errors or defects or otherwise not perform as anticipated. Moreover the development of the market for the joint venture’s products is anticipated to be dependent on government support of passenger rail development and there can be no assurance that such support will be forthcoming or, even if forthcoming, that the joint venture’s railcars will otherwise be able to compete successfully. Other potential risks and uncertainties relating to ARI’s business and the production of railcars are described in ARI’s filings with the Securities and Exchange Commission. ARI expressly disclaims any duty to provide updates to any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise.