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INTERPOOL SECOND QUARTER NET INCOME UP 44 PERCENT TO $4.8 MILLION; CHAIRMAN SAID YEAR'S PERFORMANCE IS ON TARGET

 PRINCETON, N.J., Aug. 11 /PRNewswire/ -- Interpool, Inc. (NYSE: IPX) today reported strong earnings for the second quarter ended June 30, 1993, its first quarter of operation since the company's initial public offering in May.
 Net income for the company, which leases intermodal dry cargo containers and container chassis, increased 44 percent to $4,791,000, or 32 cents per common share, up from last year's second quarter pro forma net income of $3,323,000, or 27 cents per common share. Weighted average shares outstanding for the period were 15,005,000, compared with last year's 12,127,000 shares.
 Total revenues for the June quarter were $19,569,000, a 10 percent increase from 1992 second-quarter revenues of $17,792,000. Pro forma figures reflect adjustments, as of Jan. 1, 1992, for a corporate restructuring which included the acquisition of the Trac Lease chassis business.
 Through the first half of 1993, Interpool had net income of $8,604,000, or 63 cents per common share, on 13,574,000 weighted average shares outstanding, up from a pro forma $6,485,000, or 53 cents per share last year, based on 1992's 12,127,000 shares outstanding. Revenues totaled $38,399,000 for the half, an increase of 7 percent from last year's pro forma revenues of $35,917,000.
 Martin Tuchman, chairman and chief executive officer of Interpool, commented: "Year-to-date results are gratifying, and the business is performing on target with our expectations. As the summer began, customer commitments for new equipment enabled us to move forward promptly with our own financial planning and equipment purchases."
 Mr. Tuchman added that Interpool is exploring acquisitions and other opportunities, stating, "We have identified some excellent situations which should permit us to capitalize on the growth of our domestic intermodal equipment business and extend our reach more broadly within North America."
 Interpool, originally founded in 1968, is one of the world's leading lessors of intermodal dry cargo containers and is the second largest lessor of intermodal container chassis in the United States. Interpool container fleet totals approximately 90,000 20-foot equivalent units, and its chassis fleet has approximately 40,000 chassis. Interpool leases its containers and chassis to over 200 customers, including nearly all of the world's 20 largest international container shipping lines.
 INTERPOOL, INC.
 Consolidated Statements of Income
 (In thousands, except per share amounts)
 Periods ended Three months Six months
 June 30, 1993 1992 1993 1992
 (Actual) (Pro forma) (Actual) (Pro forma)
 Revenues:
 Container leasing $ 8,005 $ 6,748 $15,452 $13,584
 Chassis leasing 9,197 9,109 18,441 18,519
 Other equipment leasing 2,367 1,935 4,506 3,814
 Total revenues 19,569 17,792 38,399 35,917
 Oper. and administrative
 expenses 7,611 6,989 14,957 14,615
 Depreciation and amort.
 of leasing equipment 3,442 3,650 7,333 7,135
 (Gain) on sale of
 leasing equipment (678) (131) (874) (383)
 Earnings before interest
 and taxes 9,194 7,284 16,983 14,550
 Interest expense, net 3,429 3,120 6,709 6,366
 Income before taxes 5,765 4,164 10,274 8,184
 Provision for inc. taxes 974 841 1,670 1,699
 Net Income $ 4,791 $ 3,323 $ 8,604 $ 6,485
 Earnings per share $.32 $.27 $.63 $.53
 Weighted average
 shares outstanding 15,005 12,127 13,574 12,127
 -0- 8/11/93
 /CONTACT: Raoul J. Witteveen of Interpool, Inc., 212-986-3388, or Stuart Pearlman of Stuart Pearlman & Co, Inc., 212-370-4940/
 (IPX)


CO: Interpool, Inc. ST: New Jersey IN: PAP SU: ERN

SM-MP -- NY018 -- 1542 08/11/93 09:30 EDT
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Date:Aug 11, 1993
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