PRESS RELEASE

Parallel Infrastructure CEO Addresses Congressional Subcommittee on Using Right-of-Way Real Estate to inance Passenger Rail Im!ro"ements
Frank Chechile, CEO of Parallel Infrastructure LLC ("Parallel"), a leading right-ofway (" O!") land "anage"ent and asset de#elo$"ent co"$any, $resented testi"ony yesterday to the %&'& (ouse of e$resentati#es 'u)co""ittee on ailroads, Pi$elines, * (a+ardous ,aterials on how right-of-way real estate can )e used in an inno#ati#e way to fund $assenger rail without $lacing additional )urden on ta-$ayers& .he title of the hearing was, ".he ole of Inno#ati#e Finance in Intercity Passenger ail&" #AC$SO%&ILLE' la( )#anuary *+' *,-./ -- Frank Chechile, CEO of Parallel Infrastructure LLC ("Parallel"), a leading right-of-way (" O!") land "anage"ent and asset de#elo$"ent co"$any, $resented testi"ony yesterday to the %&'& (ouse of e$resentati#es 'u)co""ittee on ailroads, Pi$elines, * (a+ardous ,aterials on how right-of-way real estate can )e used in an inno#ati#e way to fund $assenger rail without $lacing additional )urden on ta-$ayers& .he title of the hearing was, ".he ole of Inno#ati#e Finance in Intercity Passenger ail&" In his testi"ony, Chechile stated that colla)oration )etween the $u)lic and $ri#ate sector can ena)le a new source of financing for $assenger rail syste"s& Parallel Infrastructure has the a)ility to unlock the #alue of real estate assets owned )y $u)lic agencies to create a new re#enue strea" that can )e used to finance ca$ital $ro/ects and0or ongoing o$erations& ".here are "ore than one "illion "iles of right-of-way trans$ortation corridor in the %nited 'tates, the #ast "a/ority of which is owned )y the $u)lic sector," said Chechile& "1y ta$$ing the #alue of O! real estate, )illions of dollars in new re#enue can )e generated and le#eraged to fund $assenger rail infrastructure i"$ro#e"ents in our country&" Esta)lished /ust two years ago as an inde$endent co"$any, Parallel Infrastructure has grown to )eco"e a national $layer )y securing agree"ents with $u)lic and $ri#ate sector railroad co"$anies& In addition to securing agree"ents with $u)lic sector railroads, such as 2orth Coast ailroad 3uthority and 'E43-Council of 5o#ern"ent, Parallel recently signed an agree"ent to hel$ 3llegheny County in Pennsyl#ania increase its earnings fro" its land assets through teleco""unications infrastructure de#elo$"ent& Chechile credits the co"$any6s ra$id growth to the uni7ue skillset de#elo$ed fro" 899: years of "anaging its own O! in Florida and its a)ility and willingness to de$loy its own ca$ital to reali+e these real estate o$$ortunities& .he co"$any has agree"ents co#ering "ore than 8,;99 "iles of O! corridor across << states&

"I a$$reciate the chance to ha#e s$oken directly with this grou$ of legislators to share Parallel Infrastructure6s e-$erience with generating new financing strea"s fro" $roacti#e O! "anage"ent that can offer go#ern"ent agencies at all le#els the "eans to enhance our nation6s $assenger rail trans$ortation syste"," added Chechile& .he hearing can )e #iewed at= htt$=00www&trans$ortation&house&go#0hearing0roleinno#ati#e-finance-intercity-$assenger-rail& About Parallel Infrastructure Parallel Infrastructure LLC is the first uni#ersal ight-of-!ay ( O!) land "anage"ent and co""unications infrastructure de#elo$"ent co"$any focused on "oneti+ing and "a-i"i+ing the #alue of underutili+ed land assets along railroad and highway corridors for third-$arty clients& .he Co"$any6s ser#ice offerings include real estate "anage"ent ser#ices, teleco""unications infrastructure de#elo$"ent, and generating ancillary re#enue strea"s through alternati#e O! uses& (ead7uartered in >ackson#ille, Fla&, Parallel Infrastructure is a wholly owned su)sidiary of Florida East Coast Industries, Inc& For "ore infor"ation, #isit htt$=00www&$arallelinfrastructure&co"& About lorida East Coast Industries Florida East Coast Industries, Inc& (FECI) is one of Florida6s oldest and largest full-ser#ice co""ercial real estate and infrastructure co"$anies& (ead7uartered in Coral 5a)les, Fla&, FECI has a rich history dating )ack o#er a century& ,r& (enry Flagler first esta)lished a $redecessor co"$any in 8;?<, which )eca"e a $ioneer in the de#elo$"ent of Florida6s eastern coast& .oday, FECI continues to transfor" Florida as the $arent co"$any to the following leading real estate, trans$ortation, and infrastructure )usinesses within the state= Flagler, a full-ser#ice co""ercial real estate co"$any@ 3ll 3)oard Florida, the %nited 'tates6 first $ri#ately owned, o$erated and "aintained intercity $assenger rail@ 'outh Florida Logistics 'er#ices, an integrated logistics co"$any that offers a wide range of logistics ser#ices and solutions@ and Parallel Infrastructure, a leader in third-$arty ight of !ay ( O!) "anage"ent ser#ices& FECI is owned )y $ri#ate e7uity funds "anaged )y affiliates of Fortress In#est"ent 5rou$ LLC& For "ore infor"ation, #isit htt$=00www&feci&co"& 0edia Contacts1 $risty $ennedy r)) Pu)lic elations A9B-CC;-B;A? kristy&kennedyDr))$r&co" $athleen Rodrigue2 Florida East Coast Industries A9B-B<9-<A9E kathleen&rodrigue+Dfeci&co" -Ends-