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Pioneer Railroad Equipment Co., Ltd. (PREL), formed on April 1, 1990, leases
equipment to the Company's subsidiary railroads and also leases railcars and locomotives
to unaffiliated third parties. PREL also earns income from non-company railroads on its fleet of 600 railcars (as of January 1, 2010) when they carry freight on non-company railroads (AAR reporting marks "PREX").
Contact
Joseph Evans, VP Mechanical and Customer Services, for further information
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