Trailer Bridge Files Appeal to Remain on Nasdaq Stock Market

Business Wire, April 22, 2004

Business Editors

JACKSONVILLE, Fla.--(BUSINESS WIRE)--April 22, 2004

Trailer Bridge, Inc. (NASDAQ: TRBRE) today announced that it received a Nasdaq Staff Determination on April 15, 2004 indicating that the Company fails to comply with the requirements for continued listing on The Nasdaq Small Cap Market. Specifically, the Company has failed to file its Form 10-K for the period ended December 31, 2003, as required by Marketplace Rule 4310(c) (14).

Trailer Bridge has requested a hearing before a Nasdaq Listing Qualifications Panel ("the Panel") to review the Staff's determination. The hearing date will be determined by Nasdaq, but the Company expects to correct its deficiency before such a hearing. Trailer Bridge's common stock will continue to be traded on The Nasdaq Small Cap Market pending the outcome of the hearing. There can be no assurances that the Panel will grant the Company's request for continued listing.

Trailer Bridge expects to file its Form 10-K for the period ended December 31, 2003 within the next 7 business days.

As previously announced, Trailer Bridge has delayed filing its Form 10-K for the year-ended December 31, 2003 pending the completion of the audited financial statements by the Company's new independent public accounting firm. The Company is also obtaining information related to certain contingencies, including the re-financing of the Company's revolving credit facility. Trailer Bridge is continuing to document its re-financing and expects to close shortly.

Trailer Bridge provides integrated trucking and marine freight service to and from all points in the lower 48 states and Puerto Rico, bringing efficiency, environmental and safety benefits to domestic cargo in that traffic lane. This total transportation system utilizes its own trucks, drivers, trailers, containers, U.S. flag vessels and marine facilities in Jacksonville and San Juan. Additional information on Trailer Bridge is available at the www.trailerbridge.com website.

This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The matters discussed in this press release include statements regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to the future operating performance of the Company. Investors are cautioned that any such forward looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward looking statements as a result of various factors. Without limitation, these risks and uncertainties include the Company's ability to successfully refinance its debt, that the Company will be granted a favorable outcome regarding its request for continued listing on the Nasdaq Small Cap Market, that the Company will be able to file its Form 10-K for the period ended December 31, 2003 within the stated time frame, and other risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission.