Rand Logistics Amends Credit Facility with General Electric Capital Corporation

Increases Facility to Approximately $100 Million
NEW YORK--(Business Wire)--
Rand Logistics Inc. (Nasdaq: RLOG; RLOGW; RLOGU) ("Rand") today
announced that it has entered into an Amended and Restated Credit
Facility Agreement with General Electric Capital Corporation ("GE
Capital").

The amended credit facility with GE Capital increases Rand's
borrowing capacity to approximately $100 million. The additional
capital will be used to finance the WMS acquisition, repower one of
the Company's Canadian vessels and will provide additional liquidity
for future capital improvements.

Laurence S. Levy, Chairman and CEO of Rand, said, "This larger
facility provides us with enhanced financial flexibility to pursue our
business plan."

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 ten self-unloading bulk
carriers, comprised of nine River Class vessels and one River Class
integrated tug/barge unit, and three conventional bulk carriers, of
which one is operated under a contract of affreightment. 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 dictates that only
ships that are built, crewed and owned by U.S. citizens can operate
between U.S. ports - and the Canada Marine Act - which requires
Canadian commissioned ships to operate between Canadian ports.

Forward-Looking Statements

This press release may contain forward-looking statements (within
the meaning of the Private Securities Litigation Reform Act of 1995)
concerning the Company and its operating subsidiaries. Forward-looking
statements are statements that are not historical facts, but instead
statements based upon the current beliefs and expectations of
management of the Company. Such forward-looking statements are subject
to risks and uncertainties, which could cause actual results to differ
from the results included in such forward-looking statements.

Rand Logistics, Inc.
Laurence S. Levy, 212-644-3450
Chairman & CEO
or
INVESTOR RELATIONS COUNSEL:
The Piacente Group
Lenny Santiago, 212-481-2050
Lenny@tpg-ir.com

Copyright Business Wire 2008