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GREENBRIER COMPANIES PURCHASE $106-MILLION INTERMODAL TRAILER AND CONTAINER FLEET FROM CHRYSLER CAPITAL

 SAN FRANCISCO, Jan. 6 /PRNewswire/ -- The Greenbrier Cos. announced today the purchase of 12,446 domestic intermodal containers, chassis and intermodal trailers from a unit of Chrysler Capital Corp. The acquisition was made through Greenbrier's San Francisco-based trailer and container leasing unit, Greenbrier Capital Corp. Greenbrier has formed a new limited partnership in which Chrysler Financial Corp. will have a major stake. The $106-million purchase was financed through ING Lease Structured Finance, Amsterdam, The Netherlands, and First Union National Bank of North Carolina.
 Greenbrier President and Chief Executive Officer William A. Furman said, "This acquisition is the largest single asset purchase we have made in support of our intermodal activities. It is very important because it will enhance our existing intermodal capability and support two of our emerging businesses, Autostack(R) and Tolan O'Neal Transportation and Logistics (TOT&L), an intermodal transportation broker in which we acquired a 50-percent share last year. We are very pleased with the financing package we were able to arrange, and welcome Chrysler Financial as a partner in this important expansion of our intermodal leasing business."
 Robert Thull, president of Greenbrier Capital, added, "This transaction fits very well with our plans at Greenbrier Capital. We already managed many of Chrysler Capital's surface transportation assets. This acquisition and our expanded relationship with Chrysler will greatly increase our overall market power in intermodal boxes and chassis, making us the third-largest U.S. owner of domestic intermodal boxes. The acquisition also strengthens the market base of our subsidiary, Greenbrier Equipment Services, which repairs and refurbishes containers and intermodal and highway trailers at its Chicago facility."
 Furman added, "The container portion of this fleet is fully compatible with both our double-stack railcar marketing arm, Greenbrier Intermodal, and with our Autostack system for containerizing and transporting automobiles in double-stack railcars. This transaction adds over 4,000 newer 48' by 102" domestic containers to our fleet, most of which are on short-term operating leases with major railroads and steamship lines. This equipment can easily be integrated into our future plans for Autostack. We are very close to some large deals with Autostack, and our current automobile service with Sea-Land in the Hawaii trade is working well. We expect Autostack to have a major near- term effect on distribution methods for finished automobiles in the U.S. and in certain international markets. That new activity will require a lot of container and double-stack freight car capacity. Finally, TOT&L can benefit by utilizing these boxes to supply added value to its customers."
 The Greenbrier Companies is a family of privately held transportation, leasing and management companies based in Lake Oswego, Ore., a suburb of Portland. Greenbrier is active in railcar manufacturing, marketing and leasing, leasing intermodal equipment and managing equipment-leasing investment programs for institutions and wealthy investors. It owns or manages a fleet of approximately 35,000 railcars and intermodal trailers and containers. Its subsidiary, Autostack, provides containerized transportation for new automobiles utilizing the U.S. railroad network of double-stack rail equipment and mechanized container terminals as well as ocean movements.
 At its 75-acre plant in Portland, Gunderson Inc., Greenbrier's largest subsidiary, builds new railroad freight cars, including double- stack container cars, spine cars, boxcars, gondolas, center partition lumber cars, covered hoppers and coal cars. A similar-sized facility is located near Fort Worth, Texas. Gunderson is the nation's largest builder of double-stack container cars. Gunderson also refurbishes used freight cars at both of its manufacturing facilities.
 -0- 1/6/93
 /CONTACT: Bruce Harmon of The Greenbrier Companies, 503-684-7000/


CO: The Greenbrier Companies; Chrysler Capital Corp.; Greenbrier
 Capital Corp. ST: California, Oregon IN: TRN SU:


SW -- SE007 -- 2390 01/06/93 17:17 EST
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Date:Jan 6, 1993
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