Banyan Rail Stockholders Re-elect Directors and Approve All

  Banyan Rail Stockholders Re-elect Directors and Approve All Proposals at
  Annual Meeting

Business Wire

BOCA RATON, Fla. -- July 02, 2010

Banyan Rail Services Inc. (OTCBB:BARA) announced that its shareholders
re-elected each of the company’s four directors at its Annual Meeting held
July 1, 2010. In addition, shareholders approved the adoption of a stock
option and award plan and approved the appointment of Daszkal Bolton LLP as
independent accountants.

The four directors re-elected, Paul S. Dennis, Gary O. Marino, Bennett Marks
and Donald D. Redfearn, will serve until the next annual meeting of the
company.

The stock option plan approved by the shareholders will allow the company to
provide additional incentive to attract and retain qualified and competent
persons who are key to the company, including executive officers, employees
and directors.

Daszkal Bolton LLP, based in Boca Raton, Florida, was appointed as independent
accountants for the company for fiscal year ending December 31, 2010.

Banyan Rail Services Inc. is a railroad support services company headquartered
in Boca Raton, Florida. The Company owns The Wood Energy Group, Inc., one of
the nation’s largest railroad tie reclamation/energy generation companies. For
more information on Banyan Rail, visit our website at: www.banyanrail.com.

Safe Harbor Regarding Forward-Looking Statements

Some of the statements that we make in this press release, including
statements about our confidence in the Company’s prospects and strategies are
forward-looking statements within the meaning of §21E of the Securities
Exchange Act. Some of these forward-looking statements can be identified by
words like “believe,” “expect,” “will,” “should,” “intend,” “plan,” or similar
terms; others can be determined by context. Statements contained in this
release that are not historical facts are forward-looking statements. These
statements are necessarily estimates reflecting our best judgment based upon
current information, and involve a number of risks and uncertainties. Many
factors could affect the accuracy of these forward-looking statements, causing
our actual results to differ significantly from those anticipated in these
statements. You should not place undue reliance on our forward-looking
statements, which reflect our analysis only as of the date of this release.
The risks and uncertainties listed above and in documents that we file with
the Securities and Exchange Commission, including our annual report on Form
10-K, quarterly reports on Form 10-Q, and any current reports on Form 8-K,
must be carefully considered by any investor or potential investor in the
Company.

Contact:

Banyan Rail Services Inc.
Larry Rutstein, 561-997-7775