LAS VEGAS, NV — (Marketwire) — 03/07/12 — Las Vegas Railway Express, Inc. (“X” Train) (OTCBB: XTRN) announced today that The State of Nevada Department of Transportation (NDOT) supports the X Train as the viable short term conventional passenger rail project in the state of Nevada for the 0-5 year time frame. The determination was presented by the NDOT at a public meeting on February 13, 2012 in Las Vegas where the NDOT made public its findings as part of the statewide Nevada State Rail Plan . The NDOT conducted a comprehensive interview process with over 30 stakeholders such as railroad companies, Amtrak, governmental transportation agencies and private project parties. The X Train was selected as a project targeted for support by the NDOT.
NDOT support identifies access to public funding of various project types for the X Train including infrastructure improvement, RRIF loans, TIGER Grants, EDA Grants and other financing sources which could be of value to the X Train. The Company plans to pursue these opportunities and funding sources exclusive to passenger rail projects.
Las Vegas Railway Express, Inc. has been planning for the establishment of a “Vegas-style” passenger train service between Los Angeles and Las Vegas since early 2009. Roundtrip service is planned for Thursday through Monday each week with an introductory price of $99 each way which includes a First Class accommodation and all-inclusive food & beverage, just like the airline industry. In addition, the “X” Train will also offer the ability for its passengers to book hotel rooms, transportation transfers, entertainment & show tickets and other travel incidentals. For more information, please visit the Company website at .
Statements in this press release other than statements of historical fact, including statements regarding the company-s plans, beliefs, and estimates as to projected market size are “forward-looking statements.” Such statements are subject to certain risks and uncertainties, including factors listed from time to time in the company-s SEC filings, and actual results could differ materially from expected results. These forward-looking statements represent the company-s judgment as of the date of this release. The company disclaims, however, any intent of obligation to update these forward-looking statements.
Mr. Michael Barron
CEO
(702) 583-6715