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MEDIA CONTACT

Kevin Bagby

TEL.

800-458-2235

FOR IMMEDIATE RELEASE

May 11, 2006

FreightCar America, Inc. Declares Regular Dividend

FreightCar America, Inc. (Nasdaq:RAIL) announced today that on May 10, 2006, its Board of Directors declared a regular cash dividend of $0.03 per share of common stock of the company.

The dividend is payable on May 31, 2006, to shareholders of record at the close of business on May 24, 2006.

FreightCar America, Inc. manufactures railroad freight cars, with particular expertise in coal-carrying railcars. In addition to coal cars, FreightCar America designs and builds flat cars, mill gondola cars, intermodal cars, coil steel cars and motor vehicle carriers. It is headquartered in Chicago, Illinois, and has manufacturing facilities in Danville, Illinois, Roanoke, Virginia, and Johnstown, Pennsylvania. More information about FreightCar America is available on its website at www.freightcaramerica.com.