Summary of RAILAMERICA INC /DE

Item 8.01. Other Events.
On December 18, 2009, RailAmerica, Inc. (the "Company") announced that its subsidiary, RaiLink Canada Ltd. ("RaiLink"), entered into an Amended and Restated Master Agreement ("Master Agreement") with the Canadian Pacific Railway ("CP") to terminate its lease of the Ottawa Valley Railway ("OVR") line. Under the terms of the Master Agreement, the Company received C$73 million in gross proceeds. The Company estimates that it will receive net cash proceeds after taxes and transaction related expenses of C$69 to C$70 million.
RaiLink will terminate its lease of the CP-owned OVR rail line between Smiths Falls and Camspur, near Petawawa, ON, effective upon clearance of the remaining cars from the line. Under the Canada Transportation Act, CP has 60 days to determine whether train service will be restored on the line. RaiLink will continue to maintain and operate the CP-owned rail lines between Sudbury and Mattawa, ON, Mattawa and Temiscaming, PQ, and Mattawa and Camspur until dates in 2010 to be determined by CP.
The OVR operation consists of 342 mainline miles of track and primarily transports bridge traffic, chemicals, and pulp and paper products. For the nine months ended September 30, 2009, total revenue for OVR was C$13.3 million, operating income was C$4.6 million, depreciation/amortization expense was C$0.4 million and capital expenditures were C$0.7 million. The Company will record the income or loss from these operations in discontinued operations beginning in the fourth quarter of 2009.
Item 9.01. Financial Statements, Pro Forma Financial Information and Exhibits
(d) The following exhibits are being filed herewith:

Exhibit No.    Description

   99.1        Press Release, dated December 18, 2009, issued by RailAmerica, Inc.
               announcing the early termination of Ottawa Valley Railroad Lease with
               Canadian Pacific.