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FreightCar America's Roanoke, Virginia Manufacturing Facility Delivers Its First Production Railcar

David R. Goode, Norfolk Southern Corporation (NYSE:NSC) chairman and CEO, today joined John E. Carroll, Jr., president and CEO of FreightCar America, Inc. (Nasdaq:RAIL), in celebrating the grand opening of FreightCar America's new railcar manufacturing facility in Roanoke, Virginia. FreightCar America leased the facility from Norfolk Southern and has extensively upgraded it to build a broad range of railroad freight cars.

Attending the ceremonies were Virginia Secretary of Commerce and Trade Michael Schewel, representing Virginia Governor Mark R. Warner, as well as Roanoke City Manager Darlene Burcham and Mayor C. Nelson Harris. Also in attendance were management officials from Norfolk Southern, the Commonwealth of Virginia, the City of Roanoke and FreightCar America, and all the FreightCar America employees in Roanoke.

"This project will re-energize an industry that has a long-standing tradition in the Roanoke Valley," said Governor Warner. "Virginia's pro-business climate has again made a difference in securing an outstanding investment for the citizens of Roanoke."

Governor Warner had previously announced FreightCar America leased Norfolk Southern's East End shops to manufacture railroad freight cars. In addition to a $5.5 million investment by FreightCar America, the project will provide up to 400 new jobs in the Roanoke Valley. Virginia successfully competed with Illinois and Indiana for the project award.

Norfolk Southern's Goode said, "Reopening these shops is important for Norfolk Southern as well as the City of Roanoke. We are happy to have a leading freight car builder in FreightCar America as our tenant."

Kenneth D. Bridges, FreightCar America's senior vice president of operations, added, "We are proud to bring our expertise in building railcars to Roanoke, where we will be able to better serve our market. Hiring of employees and production of new cars are ramping up faster than expected, and we are very pleased with the people we are finding in the Roanoke area."

FreightCar America 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. FreightCar America is headquartered in Chicago, Illinois and, in addition to Roanoke, has manufacturing facilities in Danville, Illinois, and Johnstown, Pennsylvania. More information about FreightCar America is available on its website at www.freightcaramerica.com.

This press release may contain statements relating to expected financial performance and/or future business prospects, events and plans relating to FreightCar America, Inc. that are "forward-looking statements" as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. Our actual results may differ materially from the results described in or anticipated by our forward-looking statements due to certain risks and uncertainties. These potential risks and uncertainties include, among other things: the cyclical nature of our business; adverse economic and market conditions; fluctuating costs of raw materials, including steel and aluminum, and delays in the delivery of raw materials; our ability to maintain relationships with our suppliers of railcar components; our reliance upon a small number of customers that represent a large percentage of our sales; the variable purchase patterns of our customers and the timing of completion, delivery and acceptance of customer orders; the highly competitive nature of our industry; the risk of lack of acceptance of our new railcar offerings by our customers; and the additional risk factors described in our filings with the Securities and Exchange Commission. We expressly disclaim 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.