Fitzgerald Railcar Services

I am sending you this letter to express my appreciation for your assistance in
the sale of our company to Watco Companies.

VR's knowledge of the railroad industry proved to be invaluable in selling our
company to a strategic buyer within the industry.

Having worked with VR Mergers & Acquisitions - St. Louis as a seller; we are
now pleased to be working with VR as a buyer to acquire other railroad
industry related businesses.

Thank you again for your efforts; we look forward to a relationship that has
already proven to be very beneficial in many ways.

Sincerely,

John Edward, President

Fitzgerald Railcar Services