American Railcar Industries confirms Jeff Hollister as the President and CEO

– USA, MO – American Railcar Industries, Inc. (Nasdaq:ARII) (“ARI”) announced today that ARI’s Board of Directors has appointed Jeffrey S. Hollister as the Company’s President and Chief Executive Officer. The Board of Directors had appointed Mr. Hollister as President and Interim Chief Executive Officer on October 9, 2013.

Dale C. Davies, ARI’s Senior Vice President, Chief Financial Officer and Treasurer, has retired. To fill this role, the Company’s Board of Directors appointed Umesh Choksi as the Company’s Senior Vice President, Chief Financial Officer and Treasurer. Mr. Choksi has 30 plus years of experience in the railcar industry, with a majority of this experience in the railcar leasing market. Mr. Choksi has served American Railcar Leasing LLC (ARL) and ACF Industries, LLC in various capacities since 1977, including roles as both CEO and CFO of ARL.

ARI’s Chairman of the Board of Directors, SungHwan Cho, stated, “We have been very pleased with Jeff’s commitment and leadership of ARI since taking on the President and Interim CEO role almost one year ago and we are excited that he will continue leading ARI and drive future growth. Umesh will be a great addition to the executive team at ARI with his 30 years of experience in the railcar industry, including his experience as CFO of American Railcar Leasing. Dale has been with ARI since the IPO and saw the company grow over these years to become an industry leader. We thank Dale for his contributions and wish him the best in the future.”

About American Railcar Industries, Inc.

ARI is a leading North American designer and manufacturer of hopper and tank railcars. ARI provides its railcar customers with integrated solutions through a comprehensive set of high quality products and related services. ARI manufactures and sells railcars, custom designed railcar parts, and other industrial products. ARI and its subsidiaries also lease railcars manufactured by the Company to certain markets. In addition, ARI provides railcar repair services through its various repair facilities, including mini-shops and mobile units, offering a range of services from full to light repair.

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