Trinity Industries, Inc. Announces the Sale of Approximately $396 Million of Leased Railcars under its Strategic Alliance with

  Trinity Industries, Inc. Announces the Sale of Approximately $396 Million of
  Leased Railcars under its Strategic Alliance with Element Financial

Business Wire

DALLAS -- January 28, 2014

Trinity Industries, Inc. (NYSE:TRN) announced today that its subsidiary closed
the sale of the second tranche of leased railcars to Element Financial
Corporation (TSX:EFN) (“Element”) under the newly formed $2 billion strategic
railcar alliance announced in December. The sale consisted of a portfolio of
existing leased railcars from Trinity’s lease fleet with a value of
approximately $396 million. The profit recognized from the sale in the first
quarter of 2014 is expected to be between $1.00 and $1.10 per share. Trinity
will not have any remaining ownership interest in the leased railcars sold to
Element. Trinity Industries Leasing Company (“TILC”), a wholly-owned
subsidiary of Trinity, will act as servicer of the railcars sold to Element
per the terms of the alliance.

Combined with the first sale of leased railcars executed last month, Trinity
has sold a portfolio of leased railcars with a value of approximately $501
million from its lease fleet under the alliance. As previously disclosed,
Element is expected to purchase an additional $500 million of leased railcars
this year primarily consisting of new TrinityRail manufactured railcars, the
majority of which are in Trinity’s current leasing order backlog. The
remaining $1 billion of purchases by Element under the targeted $2 billion
alliance are expected to occur in 2015 and may include a combination of newly
manufactured railcars, existing TILC leased railcars, as well as secondary
market purchases.

The Company will provide further details on the alliance with Element on its
upcoming fourth quarter 2013 earnings conference call.

Trinity Industries, Inc., headquartered in Dallas, Texas, is a diversified
industrial company that owns market-leading businesses which provide products
and services to the energy, transportation, chemical and construction sectors.
Trinity reports its financial results in five principal business segments: the
Rail Group, the Railcar Leasing and Management Services Group, the Inland
Barge Group, the Construction Products Group, and the Energy Equipment Group.
For more information, visit:


Trinity Industries, Inc.
Investor Contact:
Jessica L. Greiner, 214-631-4420
Director of Investor Relations
Media Contact:
Jack Todd, 214-589-8909
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