Genesee & Wyoming Inc. reported March 2004 and first quarter of 2004 traffic volumes for its North American and 50%-owned Australian operations.

North American traffic in March 2004 was 53,455 carloads, an increase of 8,056 carloads, or 17.7%, compared with March 2003. North American traffic for the first quarter of 2004 was 151,208 carloads, an increase of 21,278 carloads, or 16.4% from the first quarter of 2003.

Australian traffic in March 2004 was 84,416 carloads, an increase of 17,376 carloads, or 25.9%, compared with March 2003. Australian traffic for the first quarter of 2004 was 247,595 carloads, an increase of 54,702 carloads, or 28.4% from the first quarter of 2003.

North American carloads in March 2004 increased by 8,056 carloads, or 17.7%. Excluding 4,105 carloads from three railroads acquired from Georgia-Pacific Corp., which GWI started operating January 1, 2004, North American traffic in March 2004 increased by 3,951 carloads, or 8.7%. This same-railroad increase for March 2004 was led by a 1,332 carload increase in farm & food products shipments, a 1,049 carload increase in lumber & forest products shipments and a 960 carload increase in metals shipments. All other
commodities increased by a net 610 carloads.

North American carloads for the first quarter of 2004 increased by 21,278 carloads, or 16.4%. Excluding 11,928 carloads from three railroads acquired from Georgia-Pacific Corp., North American traffic for the first quarter of 2004 increased by 9,350 carloads, or 7.2%. This same-railroad increase for the first quarter of 2004 was led by a 3,019 carload increase in farm & food products shipments and a 2,350 carload increase in metals shipments. All other commodities increased by a net 3,981 carloads.

Australian carloads in March 2004 increased by 17,376 carloads, or 25.9%, compared with March 2003. The increase was primarily the result of a 12,289 carload increase in grain traffic versus the drought affected carload traffic of the prior year. All other commodities increased by a net 5,087 carloads.

Australian carloads for the first quarter of 2004 increased by 54,702 carloads, or 28.4%, due primarily to an increase of 38,751 carloads of grain and an increase of 7,471 carloads of iron ore. All other commodities increased by a net 8,480 carloads.