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GENE UPCHURCH NAMED TO BOARD OF DIRECTORS

December 22, 2006

RALEIGH, NC -- The North Carolina Railroad Company (NCRR) announces the appointment of Gene Upchurch to its Board of Directors, effective October 31, 2006. Mr. Upchurch’s appointment is made by North Carolina Governor Mike Easley to succeed retiring Director J. Bradley Wilson.

Since January 1, 2004, Upchurch has been Vice-President—State Public Affairs at Progress Energy in Raleigh, N.C. “As NCRR moves ahead with projects to handle the increase in demand for rail service, we will benefit from Gene’s experience with communities across the state,” says William Kincheloe, NCRR Chairman of the Board Directors.

As a Director, Upchurch will collaborate with the other Board members to set policy and direct staff to fulfill the NCRR rail corridor’s potential as one of the state’s most valuable transportation assets.

The North Carolina Railroad Company owns and manages the 317-mile rail corridor extending from Morehead City to Charlotte. The railroad carries 60-plus freight trains and eight passenger trains daily. It manages, improves and protects its properties and corridor to enhance freight and passenger service and promote economic development. NCRR is the state’s oldest corporation but remains at the forefront of rail improvements and partnership development to promote jobs and rail-served industry across the state.

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