American Railcar Industries, Inc. Completes Initial Public Offering

Business Wire, Jan 24, 2006

ST. CHARLES, Mo. -- American Railcar Industries, Inc. (NASDAQ: ARII), announced today that it completed its initial public offering of 9,775,000 shares of common stock priced at $21.00 per share. The initial public offering included 1,275,000 shares of the Company's common stock that were sold as a result of the underwriters' exercise in full of their over-allotment option. Net proceeds to the Company from the initial public offering were approximately $186.5 million, after deducting underwriting discounts and other estimated fees and expenses related to the offering. The Company's common stock is quoted on the Nasdaq National Market under the symbol "ARII" and commenced trading on January 20, 2006.

UBS Investment Bank and Bear, Stearns & Co. Inc. acted as joint book-running managers for the offering and CIBC World Markets, BB&T Capital Markets and Morgan Keegan & Company, Inc. acted as co-managers for the offering.

A registration statement relating to this offering has been filed and been declared effective by the Securities and Exchange Commission. Copies of the final prospectus relating to the offering may be obtained from the offices of UBS Investment Bank at 299 Park Avenue, New York, New York 10171, Attention: Syndicate Desk and Bear, Stearns & Co. Inc. at 383 Madison Avenue, New York, New York 10179, Attention: Prospectus Department.

About American Railcar Industries, Inc.

American Railcar Industries, Inc. ("ARI") is a leading North American manufacturer of covered hopper and tank railcars. ARI also repairs and refurbishes railcars, provides fleet management services and designs and manufactures railcar and industrial components used in the production of its railcars as well as railcars and non-railcar industrial products produced by others.