Exhibit 99.1

Genesee & Wyoming Reports Results for the Fourth Quarter of 2010

GREENWICH, Conn.--(BUSINESS WIRE)--February 8, 2011--Genesee & Wyoming Inc. (GWI) (NYSE: GWR) reported net income in the fourth quarter of 2010 of $19.9 million, compared with net income of $18.3 million in the fourth quarter of 2009. GWI's diluted earnings per share (EPS) in the fourth quarter of 2010 were $0.47 with 42.3 million weighted average shares outstanding, compared with diluted EPS of $0.44 with 41.3 million weighted average shares outstanding in the fourth quarter of 2009.

In the fourth quarter of 2010 and 2009, GWI’s results included certain significant items that are set forth in the table below ($ in millions, except per share amounts).

Comments from the Chief Executive Officer

Jack Hellmann, President and CEO of GWI, commented “To start, I am pleased to report that GWI completed 2010 with an industry-leading reportable injury frequency index of 0.51, which is another step closer to our goal of being injury-free. We have always believed that safe railroads are well run railroads and in 2010, our financial results, like our safety results, were excellent. In 2010, we achieved a Company-record adjusted operating ratio of 77.6% and generated Company-record free cash flow of $118 million.”

“Fourth quarter results were strong as our carload shipments remained consistent with the preceding six months and we reported a Company-record, fourth quarter adjusted operating ratio of 78.2%, despite severe winter weather. In addition, we successfully completed the first month of operations of our FreightLink acquisition in Australia.”

Mr. Hellmann continued, “As we enter 2011, we expect further improvements to our operating ratio and see two important drivers of our revenue. First, we are experiencing stronger freight shipments in both North America and Europe. Second, we expect our Australian business to benefit from additional shipments of iron ore and grain as well as the full year contribution of the FreightLink acquisition. To improve the efficiency of our operations between Adelaide and Darwin, we recently signed an agreement to acquire seven, high horsepower locomotives that we will take delivery of starting in the fourth quarter of 2011. The new locomotives are expected to increase the efficiency of our existing operations through lease and fuel savings, allow us to better serve our existing customers and provide additional capacity to support new freight customers.”

Results from Continuing Operations

In the fourth quarter of 2010, GWI's total operating revenues increased $29.8 million, or 21.3%, to $169.7 million, compared with $139.9 million in the fourth quarter of 2009. Excluding $8.7 million in operating revenues from GWA North, GWI’s subsidiary that acquired certain assets of FreightLink, same railroad operating revenues increased $21.1 million, or 15.1%. During the fourth quarter of 2010, the appreciation of the Australian and Canadian dollars versus the U.S. dollar, partially offset by the depreciation of the Euro versus the U.S. dollar, increased same railroad operating revenues by $2.2 million. Excluding the $2.2 million net impact from foreign currency, GWI’s same railroad operating revenues increased $18.9 million, or 13.5%.

Same railroad operating freight revenues in the fourth quarter of 2010 increased by $13.3 million, or 16.2%, to $95.4 million, compared with $82.1 million in the fourth quarter of 2009. Excluding the $0.9 million impact of foreign currency appreciation, GWI’s same railroad operating freight revenues increased by $12.4 million, or 15.1%.

GWI's traffic in the fourth quarter of 2010 was 224,970 carloads, an increase of 36,533 carloads, or 19.4%, compared with the fourth quarter of 2009. Excluding 7,488 carloads from GWA North, same railroad traffic in the fourth quarter of 2010 increased 29,045 carloads, or 15.4%. The traffic increase was principally due to increases of 9,509 carloads of farm & food products traffic and 9,260 carloads of coal & coke traffic. All remaining traffic increased by a net 10,276 carloads.

Same railroad average freight revenues per carload increased 0.7% in the fourth quarter of 2010. The appreciation of the Australian and Canadian dollars versus the U.S. dollar, higher fuel surcharges and changes in commodity mix increased average revenues per carload by 1.1%, 1.1% and 1.0%, respectively. Excluding these factors, same railroad average freight revenues per carload decreased 2.5%. Average freight revenues per carload were impacted by changes in the mix of customers within certain commodity groups, primarily coal, metals and farm and food.

GWI’s same railroad non-freight revenues in the fourth quarter of 2010 increased $7.8 million, or 13.4%, to $65.6 million compared with $57.8 million in the fourth quarter of 2009. Excluding the $1.3 million net impact from foreign currency, GWI’s same railroad non-freight revenues increased $6.5 million, or 11.3%, primarily due to higher switching revenues in the U.S. and Canada.

GWI's income from operations (operating income) in the fourth quarter of 2010 was $23.9 million, a decrease of $3.5 million, or 12.9%. The operating ratio was 85.9% in the fourth quarter of 2010 compared with an operating ratio of 80.4% in the fourth quarter of 2009. In the fourth quarter of 2010, operating income was reduced $24.0 million as a result of FreightLink acquisition-related expenses, partially offset by an $8.7 million gain from a legal settlement associated with a past acquisition and $2.2 million in gains on the sale of assets. In the fourth quarter of 2009, operating income benefited $0.8 million from gains on the sale of assets. Excluding these items, GWI's operating ratio was 78.2% in the fourth quarter of 2010, compared with an operating ratio of 80.9% in the fourth quarter of 2009, an improvement of 2.7 percentage points. (1)

Consolidated Annual Results – Continuing Operations

GWI reported net income for the twelve months ended December 31, 2010, of $81.3 million, compared with net income of $61.3 million for the twelve months ended December 31, 2009. GWI's diluted earnings per share (EPS) for the twelve months ended December 31, 2010, were $1.94 with 41.9 million weighted average shares outstanding, compared with diluted EPS of $1.57 with 39.0 million weighted average shares outstanding for the twelve months ended December 31, 2009. For the twelve months ended December 31, 2010, GWI reported income from continuing operations of $78.7 million, a 31.0% increase over $60.1 million for the twelve months ended December 31, 2009. GWI's diluted earnings per share from continuing operations were $1.88 for the twelve months ended December 31, 2010 (with 41.9 million weighted average shares outstanding), a 22.1% increase over $1.54 for the twelve months ended December 31, 2009 (with 39.0 million weighted average shares outstanding).

GWI’s 2010 results included a total of $28.2 million in FreightLink acquisition-related expenses ($19.2 million after-tax, or $0.46 per diluted share), a $2.3 million gain on the reversal of Huron Central Railway Inc. (HCRY) restructuring charges ($1.5 million after-tax, or $0.04 per diluted share) and an $8.7 million gain associated with a legal settlement ($5.1 million after-tax, or $0.12 per diluted share). GWI’s 2009 results included a net loss of $9.0 million ($5.4 million after-tax, or $0.14 per diluted share) from the write-down of HCRY’s non-current assets and related charges.

GWI’s continuing operations generated free cash flow of $117.6 million and $75.0 million for the twelve months ended December 31, 2010 and 2009, respectively. For the twelve months ended December 31, 2010, changes in working capital increased net cash flow from operating activities by $18.5 million. For the twelve months ended December 31, 2009, changes in working capital increased net cash flow from operating activities by $3.8 million.

Net cash used in investing activities for the twelve months ended December 31, 2010, included $119.8 million in purchases of property and equipment, partially offset by $40.8 million in grant proceeds received from outside parties and $10.0 million from sales of assets. Net cash used in investing activities for the twelve months ended December 31, 2009, included $88.9 million in purchases of property and equipment, partially offset by $24.6 million in cash received from outside parties and $12.3 million from sales of assets and insurance proceeds.

Conference Call and Webcast Details

As previously announced, GWI's conference call to discuss financial results for the fourth quarter and full year will be held Tuesday, February 8, 2011, at 11 a.m. EST. The dial-in number for the teleconference is (800) 230-1074; outside U.S., call (612) 234-9960, or the call may be accessed live over the Internet (listen only) under the "Investors" tab of GWI's website (http://www.gwrr.com), by selecting "Fourth Quarter and Full Year Earnings Audio Webcast." Management will be referring to a slide presentation that will also be available under the “Investors” tab of GWI’s website prior to the conference call. An audio replay of the conference call will be accessible via the “Investors” tab of GWI's website starting at 1 p.m. EST on February 8, 2011, until the following quarter’s earnings press release. Telephone replay is available for 30 days beginning at 1 p.m. EST on February 8, 2011, by dialing (800) 475-6701 (or outside U.S., dial 320-365-3844). The access code is 186282.

About Genesee & Wyoming Inc.

GWI owns and operates short line and regional freight railroads in the United States, Canada, Australia and the Netherlands. Operations currently include 63 railroads organized in nine regions, with approximately 7,400 miles of owned and leased track and approximately 1,800 additional miles under track access arrangements. GWI provides rail service at 16 ports in North America and Europe and performs contract coal loading and railcar switching for industrial customers.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains forward-looking statements regarding future events and the future performance of Genesee & Wyoming Inc. that are based on current expectations, estimates and projections about our industry, management's beliefs, and assumptions made by management. Words such as "anticipates," "intends," "plans," "believes," “will,” "seeks," "expects," "estimates," variations of these words and similar expressions are intended to identify these forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions, including the following risks applicable to all of our operations: risks related to the acquisition and integration of railroads; economic, political and industry conditions; customer demand, retention and contract continuation; legislative and regulatory developments, including changes in environmental and other laws and regulations to which we are subject; increased competition in relevant markets; funding needs and financing sources; unpredictability of fuel costs; susceptibility to various legal claims and lawsuits; strikes or work stoppages; severe weather conditions and other natural occurrences; and others including but not limited to, those noted in our 2009 Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q under “Risk Factors.” Therefore, actual results may differ materially from those expressed or forecasted in any such forward-looking statements. Forward-looking statements speak only as of the date of this press release or as of the date they were made. GWI disclaims any intention to update the current expectations or forward-looking statements contained in this press release.

(1) The operating ratios that exclude the items described above are non-GAAP financial measures and are not intended to replace the operating ratios calculated using total operating expenses and total revenues, calculated on a basis consistent with GAAP. The information required by Item 10(e) of Regulation S-K under the Securities Act of 1933 and the Securities Exchange Act of 1934 and Regulation G under the Securities Exchange Act of 1934, including reconciliation to the operating ratios calculated using amounts determined in accordance with GAAP, is included in the tables attached to this press release.

(2) Free cash flow is a non-GAAP financial measure and is not intended to replace net cash provided by operating activities, its most directly comparable GAAP measure. The information required by Item 10(e) of Regulation S-K under the Securities Act of 1933 and the Securities Exchange Act of 1934 and Regulation G under the Securities Exchange Act of 1934, including a reconciliation to net cash provided by operating activities, is included in the tables attached to this press release.

Reconciliation of non-GAAP Financial Measures

This earnings release contains references to adjusted operating ratios and free cash flow, which are "non-GAAP financial measures" as this term is defined in Regulation G of the Securities Exchange Act of 1934. In accordance with Regulation G, GWI has reconciled each of these non-GAAP financial measures to its most directly comparable U.S. GAAP measure.

Adjusted Operating Ratios Description and Discussion

Management views its Operating Ratio, calculated as Operating Expenses divided by Operating Revenues, as an important measure of GWI’s operating performance. Because management believes this information is useful for investors in assessing GWI’s financial results compared with the same period in the prior year, the Operating Ratio for the three months ended December 31, 2010, used to calculate Adjusted Operating Ratio, is presented excluding net gain on sale of assets, the gain from a legal settlement associated with a past acquisition and FreightLink acquisition-related expenses. The Operating Ratio for the three months ended December 31, 2009, used to calculate Adjusted Operating Ratio, is presented excluding net gain on sale of assets. The Adjusted Operating Ratios presented excluding these effects are not intended to represent, and should not be considered more meaningful than, or as an alternative to, the Operating Ratios calculated using amounts in accordance with GAAP. Adjusted Operating Ratio may be different from similarly-titled non-GAAP financial measures used by other companies.

The following table sets forth a reconciliation of GWI’s Operating Ratios calculated using amounts determined in accordance with GAAP to the Adjusted Operating Ratios described above ($ in millions):

Adjusted Operating Ratio Description and Discussion

Management views its Operating Ratio, calculated as Operating Expenses divided by Operating Revenues, as an important measure of GWI’s operating performance. Because management believes this information is useful for investors in assessing GWI’s financial results compared with the same period in the prior year, the Operating Ratio for the twelve months ended December 31, 2010, used to calculate Adjusted Operating Ratio, is presented excluding net gain on sale of assets, the gain from a legal settlement associated with a past acquisition, FreightLink acquisition-related expenses and the reversal of restructuring charges associated with the second quarter 2009 impairment of Huron Central Railway Inc. (HCRY). The Adjusted Operating Ratio presented excluding these effects is not intended to represent, and should not be considered more meaningful than, or as an alternative to, the Operating Ratio calculated using amounts in accordance with GAAP. Adjusted Operating Ratio may be different from similarly-titled non-GAAP financial measures used by other companies.

The following table sets forth a reconciliation of GWI’s Operating Ratio calculated using amounts determined in accordance with GAAP to the Adjusted Operating Ratio described above ($ in millions):

Free Cash Flow Description and Discussion

Management views Free Cash Flow as an important financial measure of how well GWI is managing its assets. Subject to the limitations discussed below, Free Cash Flow is a useful indicator of cash flow that may be available for discretionary use by GWI. Free Cash Flow is defined as Net Cash Provided by Operating Activities from Continuing Operations less Net Cash Used in Investing Activities from Continuing Operations, excluding the cost of acquisitions, proceeds received from divestitures and the cash paid for acquisition-related expenses. Key limitations of the Free Cash Flow measure include the assumptions that GWI will be able to refinance its existing debt when it matures and meet other cash flow obligations from financing activities, such as principal payments on debt. Free Cash Flow is not intended to represent, and should not be considered more meaningful than, or as an alternative to, measures of cash flow determined in accordance with GAAP. Free Cash Flow may be different from similarly-titled non-GAAP financial measures used by other companies.

The following table sets forth a reconciliation of GWI's Net Cash Provided by Operating Activities from Continuing Operations to GWI's Free Cash Flow ($ in millions):

CONTACT:
GWI Corporate Communications
Michael Williams, 203-629-3722
mwilliams@gwrr.com