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Alaska Railroad Board selects new President & CEO

Christopher Aadnesen is veteran railroad leader

Anchorage, AK - The Alaska Railroad Corporation (ARRC) Board of Directors has voted unanimously to hire
Christopher Aadnesen as the railroad's new President and Chief Executive Officer (CEO). Aadnesen is
scheduled to start later this month.

"Mr. Aadnesen has the extensive railroad experience we are looking for in our next chief executive," said Board
Chairman John Binkley. "He has proven leadership within the railroad industry, with nearly four decades of
strategic management performance that demonstrate insightful business planning, as well as excellent labor
relations, government and public communications skills. We are impressed with his knowledge of the industry
issues that we face today and in the foreseeable future. With Chris Aadnesen's leadership, we are ready to
focus on the basics of railroading."

Currently a resident of Georgetown, Texas, Aadnesen's most recent chief executive experience was three years
as CEO of Estonian Railways, where he successfully focused on profitability, safety performance, real estate
assets, and increased freight and passenger service operations.

"I have spent all of my post-graduate life working in the railroad industry and am excited about the opportunity
to work for the Alaska Railroad Corporation," said Aadnesen, noting his work experience has included nearly
every work discipline or department involved with railroad management. He has held senior corporate positions
with a wide array of railroads including the Union Pacific Railroad Company, Transportacion Ferroviaria
Mexicana, The Texas Mexican Railway Company, Houston's Port Terminal Railroad Association, and Estonian
Railways.

"We are grateful to Bill O'Leary for his steadfast leadership as interim President and CEO. We also appreciate
the railroad's executive team, for providing solid management and control during these past few months," said
Binkley. "This gave the Board confidence to take the time we needed to find and vet superb candidates for the
job."

The Alaska Railroad's President and CEO ensures that ARRC business plans, operations, assets and
real estate are managed and directed to provide a safe, efficient and profitable rail transportation system.
The position also ensures the corporation remains in compliance with applicable laws, regulations and
industry standards.

The position reports to the seven-member ARRC Board of Directors. In 2009, the Alaska Railroad earned
$170 million in total revenues and employed an average of 660 full-time employees.

The ARRC is an Equal Opportunity Corporation. If you need special assistance in order to participate in any ARRC service,
program, or activity, please contact the Alaska Railroad Corporation; P.O. Box 107500; Anchorage, AK 99510; Attention: Legal Department, zappasj@akrr.com, (907) 265-2461; via Alaska Relay Service for hearing impaired - dial 7 11 anywhere inside Alaska, OR dial toll-free from anywhere outside the state 1-800-770-8255 (voice); 1-800 770-8973 (TTY). Upon request, printed materials can be made available in alternate formats.

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