Received Contract to Repair Passenger Rail Cars for Connecticut

In March 2006, Kawasaki Rail Car, Inc. (KRC) was awarded the contract to Repair Thirty-Three (33) Passenger Rail Cars from the State of Connecticut. The repair work has commenced in May 2006 and the initial phase is scheduled to last to sometime around June 2007. The first repaired rail cars will be delivered to the Connecticut Department of Transportation this summer. KRC, together with its corporate parent Kawasaki Heavy Industries, Ltd. (KHI) has delivered more than 2,800 transit cars to major U.S. transit authorities, including the New York City Transit (NYCT), Massachusetts Bay Transportation Authority, Port Authority of New York and New Jersey, Southeastern Pennsylvania Transportation Authority and so forth, in its over 27 years of rail car business in the U.S. In addition, Kawasaki also specializes in repair, rehabilitation, reconditioning and overhaul work of existing rail cars.