Exhibit 99.1

Genesee & Wyoming Reports Results for the First Quarter of 2011

GREENWICH, Conn.--(BUSINESS WIRE)--April 28, 2011--Genesee & Wyoming Inc. (GWI) (NYSE: GWR) reported net income in the first quarter of 2011 of $22.1 million, compared with net income of $16.0 million in the first quarter of 2010. GWI's diluted earnings per share (EPS) increased 33% from $0.39 with 41.4 million weighted average shares outstanding in the first quarter of 2010 to $0.52 with 42.5 million weighted average shares outstanding in the first quarter of 2011.

GWI's effective income tax rate in the first quarter of 2011 was 27.7%, compared with 37.6% in the first quarter of 2010, primarily due to the extension of the short line tax credit in the fourth quarter of 2010.

Comments from the Chief Executive Officer

Jack Hellmann, President and CEO of GWI, commented, “In the first quarter of 2011, GWI’s revenue increased 32% as we successfully integrated the FreightLink acquisition in Australia and our same railroad traffic continued to improve, particularly in the month of March. Although our operating income increased 30% in the first quarter, it was lower than expected for three reasons. First, in late February our Australian operations experienced track wash-outs due to heavy rains from Cyclone Carlos that resulted in service cancellations for nearly 10 days. Second, our Canadian operations were adversely affected by severe winter weather and lower shipments of winter grain through a connecting Class I carrier. Third, the sharp increase in the price of diesel fuel was not fully mitigated by fuel surcharges given the average 4-month lag in our fuel surcharge programs.”

Mr. Hellmann continued, “As we enter the second quarter of 2011, we generally see our business strengthening in all of our regions. In addition, I am pleased to report that our business development efforts in 2011 have thus far yielded three significant new projects. In Australia, we have signed a major new agreement to ship export iron ore from a new mine that we expect will commence operations in the second quarter of 2012 and generate approximately A$50 million of annual revenue when it is fully operational. In Canada, we have signed a rail service contract with a new iron ore mine in Labrador that is nearby our existing operations and should start shipments in the second quarter of 2011. In Europe, where we currently operate in the Port of Rotterdam, we are expanding our service to the Port of Antwerp, with our first Belgian shipments expected to start in the second quarter of 2011. In addition to these projects, we remain actively engaged with several other investment opportunities related to the natural resources sector in both North America and Australia.”

Results from Continuing Operations

In the first quarter of 2011, GWI's operating revenues increased $46.3 million, or 31.8%, to $191.9 million, compared with $145.6 million in the first quarter of 2010. Excluding $30.0 million in revenues from GWA (North) Pty Ltd (GWA North), GWI’s subsidiary that acquired certain assets of FreightLink, same railroad operating revenues increased $22.8 million, or 15.6%. $6.4 million of non-freight revenues for services provided to GWA North by Genesee & Wyoming Australia Pty Ltd (GWA) were eliminated in our consolidated results in the three months ended March 31, 2011. During the first quarter of 2011, 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 $3.4 million. Excluding the impact from foreign currency, GWI’s same railroad operating revenues increased $19.3 million, or 13.3%.

Same railroad freight revenues in the first quarter of 2011 increased by $14.3 million, or 16.0%, to $103.9 million, compared with $89.6 million in the first quarter of 2010. Excluding the $1.5 million net impact from foreign currency appreciation, GWI’s same railroad freight revenues increased by $12.8 million, or 14.3%.

GWI's traffic in the first quarter of 2011 was 244,556 carloads, an increase of 41,834 carloads, or 20.6%, compared with the first quarter of 2010. Excluding 17,146 carloads from GWA North, same railroad traffic in the first quarter of 2011 increased 24,688 carloads, or 12.2%. The traffic increase was principally due to increases of 5,987 carloads of farm & food products traffic, 4,282 carloads of metals traffic, 4,003 carloads of pulp and paper traffic and 3,193 carloads of other commodity traffic. All remaining traffic increased by a net 7,223 carloads.

Average same railroad freight revenues per carload increased 3.4% in the first quarter of 2011. 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 1.7%, 1.6% and 0.8%, respectively. Excluding these factors, same railroad average revenues per carload decreased 0.7%. Average revenues per carload were negatively impacted by changes in the mix of customers within certain commodity groups, primarily due to length of haulage.

GWI’s same railroad non-freight revenues in the first quarter of 2011 increased $8.4 million, or 15.0%, to $64.4 million compared with $56.0 million in the first quarter of 2010. Excluding the $1.9 million net impact from foreign currency appreciation, GWI’s same railroad non-freight revenues increased $6.5 million, or 11.7%, primarily due to higher switching revenues in the U.S., Canada and the Netherlands.

GWI's income from operations in the first quarter of 2011 increased $9.1 million, or 30.2%, from $30.1 million in the first quarter of 2010 to $39.2 million in the first quarter of 2011. The operating ratio (operating expenses divided by operating revenues) was 79.6% in the first quarter of 2011 compared with an operating ratio of 79.3% in the first quarter of 2010.

GWI’s continuing operations generated free cash flow of $13.1 million and $30.2 million for the three months ended March 31, 2011 and 2010, respectively. For the three months ended March 31, 2011 and 2010, changes in working capital decreased cash flow from operating activities by $34.2 million and $0.1 million, respectively. Other than the payment of $13.0 million in acquisition-related expenses accrued as of December 31, 2010, the cash used in working capital for the first quarter of 2011 resulted from typical working capital fluctuations.

Net cash used in investing activities for the three months ended March 31, 2011, included $15.7 million in purchases of property and equipment, partially offset by $7.5 million in grant proceeds received from outside parties and $1.0 million from sale of assets. Net cash used in investing activities for the three months ended March 31, 2010, included $14.3 million in purchases of property and equipment, partially offset by $10.1 million in cash received from outside parties and $0.8 million from sale of assets.

Conference Call and Webcast Details

As previously announced, GWI's conference call to discuss financial results for the first quarter will be held Thursday, April 28, 2011, at 11 a.m. EDT. Management will be referring to a slide presentation that will also be available at www.gwrr.com/investors prior to the conference call. The dial-in number for the teleconference is (800) 230-1074; outside U.S., call (612) 234-9959, or the call may be accessed live over the Internet (listen only) at www.gwrr.com/investors.

An audio replay of the conference call will be accessible at www.gwrr.com/investors starting at 1 p.m. EDT on April 28, 2011, until the following quarter’s earnings press release. Telephone replay is available for 30 days beginning at 1 p.m. EDT on April 28, 2011, by dialing (800) 475-6701 (or outside U.S., dial 320-365-3844). The access code is 186286.

About Genesee & Wyoming Inc.

GWI owns and operates short line and regional freight railroads in the United States, Canada, Australia, the Netherlands and Belgium. Operations currently include 63 railroads organized in nine regions, with approximately 7,400 miles of owned and leased track and approximately 1,400 additional miles under track access arrangements. We provide rail service at 17 ports in North America and Europe and perform 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," “should,” "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 and competitive uncertainties and contingencies and third party approvals; 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 2010 Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q under “Risk Factors,” many of which are beyond our control. 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) 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 free cash flow, which is a "non-GAAP financial measure" as this term is defined in Regulation G of the Securities Exchange Act of 1934. In accordance with Regulation G, GWI has reconciled this non-GAAP financial measure to its most directly comparable U.S. GAAP measure.

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 cash paid/(received) for acquisitions/divestitures and 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, 1-203-629-3722
mwilliams@gwrr.com