Access charge in 2001 Cost of overhaul and materials for public infrastructure covered by the State Cost of maintenance of public infrastructure and operations covered by operators through access charge Cost of utilization of facilities of private infrastructure (buildings, lines in stations, depots, etc.) covered by operators based on specific tariffs Cost of other services (telecom, IT, etc.) covered by operators based on specific tariffs

Subsidies from the state budget

Subsidy in Romania [millions lei] 1999 2000 2001 3.001.554 3.623.197 4.000.000 Annual inflation 60% 40% 4.802.486 6.723.481

Income allocation Income Expenses Access charge Subsidy Tariffs Modernizations Overhaul Fuel Energy Tariffs Spare parts Wages Special fees Others Others Income Expenses

Income allocation Income Expenses Access charge Subsidy Tariffs Modernization Overhaul Fuel Energy Spare parts Tariffs Wages Special fees Others Others Income Expenses

Income allocation Income Expenses Access charge Subsidy Tariffs Modernization Overhaul Fuel Tariffs Energy Spare parts Wages Special fees Others Others Income Expenses

Tariffs Reform

The predicted evolution of State contribution for railways subsidies

Tariffs Reform Principles Tariffs to be modified according to inflation rate and raised on the basis of better services offered Maintaining a high social protection for local trains second class Annual adjustment of tariffs in accordance with the state subsidy level More flexibility for tariffs for special services (season tickets, round trips, monthly passes, etc.)