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Texas-New Mexico Railroad Begins Crude Oil Unit Train Service

CHICAGO - Iowa Pacific Holdings (IPH) announced that it is now
operating unit trains containing crude oil on its Texas-New Mexico Railroad (TNMR) subsidiary, a key rail line in the Permian Basin oilfield.

The first train which departed on January 22, originated at Genesis Energy L.P.’s (NYSE:GEL) recently constructed crude oil loading facility near Wink, TX and was destined for the Texas Gulf Coast. The TNMR has experienced massive growth in rail carloads resulting from the vast expansion of drilling and production of oil and gas in the Permian Basin.

IOWA PACIFIC ANNOUNCES TRACK UPGRADE IN PERMIAN BASIN

CHICAGO - Iowa Pacific Holdings (IPH) announced extensive upgrades to its Texas-New Mexico Railroad (TNMR) subsidiary, a key rail line in the Permian Basin oilfield. TNMR has experienced massive growth in rail carloads as a result of the vast expansion of oil and gas drilling and production in the Permian Basin. IPH’s recent sale of a rail line in Arizona has resulted in the availability of substantial funds for capital spending on existing infrastructure, facilities and equipment.

IPH Devon and Cornwall Railways

FOR IMMEDIATE RELEASE – December 31, 2010

CHICAGO - Iowa Pacific Holdings (IPH) announced today that Devon and Cornwall Railways, Ltd. (DCR), a subsidiary of IPH’s U.K. affiliate, British American Railway Services, has been granted a freight operating license effective December 24 by the Office of Rail Regulation, the U.K. government’s rail regulator. This license gives DCR the ability to operate open-access rail freight services throughout the United Kingdom.

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