Rand Logistics Announces Organizational and Corporate Governance Changes

Rand Logistics Announces Organizational and Corporate Governance Changes

NEW YORK, June 11, 2013 (GLOBE NEWSWIRE) -- Rand Logistics, Inc. (Nasdaq:RLOG)
("Rand") today announced that Laurence Levy has been appointed as Executive
Chairman, with responsibilities that include overseeing corporate strategy
including growth and acquisition initiatives, corporate culture, and
organization building. Mr. Levy formerly served as Chairman and Chief
Executive Officer of Rand. Rand's Chief Executive Officer position will remain
unfilled.

"Today's announcement reflects the collective view of our independent
directors and management team as to the most efficient operating structure for
Rand as well as the maturation of our Corporate Governance," commented
Laurence Levy. "Under our new structure, I will set the strategic direction of
Rand while Ed Levy, President of Rand, and Scott Bravener, President of Lower
Lakes, will oversee business operations.We will coordinate all of our efforts
to continue to build Rand and maximize the value of our assets."

Rand also today announced that John Binion, a recently appointed independent
director, has been appointed to both Rand's audit committee and compensation
committee.

"The recent appointment of Mike Lundin as our Lead Director and of John Binion
as a new independent director and member of the audit committee and
compensation committee, as well as today's announcement regarding the creation
of the position of Executive Chairman, underline our commitment to an optimal
Corporate Governance structure and an independent Board of Directors that
represents all shareholder interests," added Laurence Levy.

"When Rand was formed in 2004, it was a shell with $25 million of equity.At
the time of the 2006 acquisition of Lower Lakes, it operated six of our
current vessels and generated annual pro-forma EBITDA of less than $6
million.Today, our enterprise value is approximately $275 million, we operate
16 vessels, we carry about 23 million tons of material annually and we are
amongst the largest shippers on the Great Lakes.Additionally, we have grown
annual EBITDA per common share from approximately $0.50 per common share in
fiscal year 2007, the first year after we acquired Lower Lakes, to nearly
$2.00 per common share in fiscal year 2012, and we have increased annual free
cash flow per common share from about ($1.24) per share in fiscal year 2007 to
approximately $0.40 per share over the same time period. These successes are
the product of the growth strategies that have been effectively implemented
through the hard work and dedication of our employees, management team and
directors, and I would like to thank them all for their efforts and
commitment. Based on our current market position and the new business
opportunities that we are pursuing, we believe that Rand is well positioned to
continue to grow both organically and through acquisitions," concluded
Laurence Levy.

Forward-Looking Statements

This press release contains forward-looking statements. For all
forward-looking statements, we claim the protection of the Safe Harbor for
Forward-Looking Statements contained in the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are inherently subject to risks
and uncertainties, many of which cannot be predicted with accuracy or are
otherwise beyond our control and some of which might not even be anticipated.
Future events and actual results, affecting our strategic plan as well as our
financial position, results of operations and cash flows, could differ
materially from those described in or contemplated by the forward-looking
statements.

About Rand Logistics

Rand Logistics, Inc. is a leading provider of bulk freight shipping services
throughout the Great Lakes region. Through its subsidiaries, the Company
operates a fleet of four conventional bulk carriers and twelve self-unloading
bulk carriers including four tug/barge units. The Company is the only carrier
able to offer significant domestic port-to-port services in both Canada and
the U.S. on the Great Lakes. The Company's vessels operate under the U.S.
Jones Act -- which reserves domestic waterborne commerce to vessels that are
U.S. owned, built and crewed, -- and the Canada Coasting Trade Act -- which
reserves domestic waterborne commerce to Canadian registered and crewed
vessels that operate between Canadian ports.

Important factors that contribute to such risks include, but are not limited
to, the effect of the economic downturn in our markets; the weather conditions
on the Great Lakes; and our ability to maintain and replace our vessels as
they age.

For a more detailed description of these uncertainties and other factors,
please see the "Risk Factors" section in Rand's Annual Report on Form 10-K
filed with the Securities and Exchange Commission on June 12, 2013.

CONTACT: Rand Logistics, Inc.
         Laurence S. Levy, Executive Chairman
         Edward Levy, President
         (212) 644-3450
         -OR-
        
         INVESTOR RELATIONS COUNSEL
         Alison Ziegler and Kevin McGrath
         Cameron Associates
         (212) 554-5469
         Alison@cameronassoc.com
 
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