CAI International, Inc. Announces Public Offering of Common Stock

  CAI International, Inc. Announces Public Offering of Common Stock

Business Wire

SAN FRANCISCO -- November 27, 2012

CAI International, Inc. (NYSE: CAP) today announced, subject to market and
other conditions, a public offering of approximately $70 million of shares of
its common stock, of which approximately $50 million of shares are being
offered by the Company and $20 million of shares are being offered by
Development Bank of Japan Inc., Mr. Hiromitsu Ogawa, CAI International’s
founder and Chairman, and Mr. Masaaki (John) Nishibori, a director and former
Chief Executive Officer of CAI International. The underwriters will be granted
a 30-day option to purchase up to an additional $10.5 million of shares of
common stock from the Company and certain of the selling stockholders to cover
over-allotments, if any.

The Company intends to use the net proceeds from the offering for working
capital and other general corporate purposes, which may include investments in
equipment and other assets. The Company may also use the net proceeds, or a
portion thereof, to repay a portion of its senior secured revolving credit
facility. The Company will not receive any proceeds from the sale of shares by
the selling stockholders.

Credit Suisse Securities (USA) LLC, Wells Fargo Securities, LLC and Keefe,
Bruyette & Woods, Inc. will act as joint book-running managers for the
offering.

A copy of the prospectus supplement and base prospectus relating to the
offering may be obtained by contacting: Credit Suisse Securities (USA) LLC,
Attention: Prospectus Department, One Madison Avenue, New York, New York
10010, Telephone: (800) 221-1037, Email: newyork.prospectus@credit-suisse.com
or Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375
Park Avenue, New York, New York, 10152, (800) 326-5897 or email a request to
cmclientsupport@wellsfargo.com or Keefe, Bruyette & Woods, Inc., Attention:
Equity Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019,
telephone (800) 966-1559.

The offering is being made pursuant to a shelf registration statement that was
declared effective on May 31, 2011 by the Securities and Exchange Commission.
This press release shall not constitute an offer to sell or solicitation of an
offer to buy, nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation, or sale would be unlawful
prior to registration or qualification under the securities laws of any such
state or jurisdiction.

About CAI International, Inc.

CAI International, Inc. is one of the world’s leading managers and lessors of
intermodal freight containers. As of September 30, 2012, the Company operated
a worldwide fleet of 1,061,000 TEUs of containers through 16 offices located
in 12 countries.

Contact:

CAI International
Timothy B. Page, 415-788-0100
Chief Financial Officer
tpage@capps.com