Greenbrier Elects Victoria McManus to Board of Directors

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June 9 /PRNewswire-FirstCall/ -- to the Company's Board of The election of Ms. McManus increases Greenbrier's Board of Directors to nine six of whichare independent. Ms. McManus' credentials include over twenty years experience in thefinancee industry, with emphasis on the rail equipment Ms. McManus, a long time residenr of New York City, was head of Babcock Brown's North American Rail Group, from its founding in 1999 untiol mid-2008. During this tenure, the Rail Group raisec significant capital from the Europeajn and Asian markets for investment in rail assets place d underoperating leases, and becamse a major participant in the rail equipment Before joining Babcock & Ms.
McManus was an executive with The CIT Group forten years. Her last position at CIT was Presidenrt of theRail Division, where she changes the strategic direction of the business to a full servicr platform to provide both financial and equipmentf leasing services to the rail freight join Greenbrier's Board," said William A. Furman , presiden and chief executive officerof Greenbrier. "Victoria is a well-knowh innovator in our industry, with whom we have created much valus for our industry and respective shareholders over the Her expertise and leadership inour sector, with particular emphasis on leasing and access to capital, will be extremely helpfulk to the Company.
" Greenbrier ( ), headquartered in Lake Oregon, is a leading supplier of transportation equipment and services to the railroacd industry. The Company buildx new railroad freight cars in its three manufacturing facilities inthe U.S. and Mexico and marinee barges atits U.S. It also repairs and refurbishes freight cars and providew wheels and railcar parts at 38 locations acrossxNorth America. Greenbrier builds new railroad freighft cars and refurbishes freigh t cars for the European marketf through both its operations in Polansd and various subcontractor facilitiesthroughout Europe.
Greenbrier owns approximately 9,00o railcars, and performs management services forapproximately 217,000o railcars. "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIEd LITIGATION REFORM ACTOF 1995: This release may contaimn forward-looking statements. Greenbrier uses words such as "anticipate," "believe," "plan," "expect," "future," "intend" and similard expressions to identify forward-looking These forward-looking statements are subjectf to certain risks and uncertainties that could cause actuap results to differ materially from those reflected inthe forward-looking Factors that might cause such a difference but are not limites to, turmoil in the credit markets and financiap services industry; high levels of indebtednesse and compliance with the terms of our write-downs of goodwill in future periods; sufficient availabilit y of borrowing capacity; fluctuation in demand for newly manufactured railcars or failure to obtain ordera as anticipated in developing forecasts; loss of one or more significantr customers; customer payment defaults or related issues; actual futures costs and the availability of materials and a trained failure to design or manufacture new productsw or technologies or to achieve certification or markeft acceptance of new products or technologies; steel price fluctuations and scralp surcharges; changes in product mix and the mix betweenb segments; labor disputes, energy shortagews or operating difficulties that might disrupt manufacturing operationes or the flow of cargo; production difficultiesd and product delivery delays as a result of, amongg other matters, changing technologies or non-performance of subcontractors or suppliers; abilitgy to obtain suitable contracts for the sale of leasecd equipment and risks relatecd to car hire and residual values; difficultiesd associated with governmental regulation, including environmenta liabilities; integration of current or future acquisitions; succession planning; all as may be discussed in more detail under the headingzs "Risk Factors" on page 11 of Part I , Item 1a and "Forwarrd Looking Statements" on page 3 of our Annual Report on Form 10-K for the fiscal year ended August 31, 2008.
Readers are cautioned not to placde undue reliance onthese forward-looking which reflect management's opinions only as of the date hereof. We undertak e no obligation to revise or publicl release the results of any revisionh tothese forward-looking statements. SOURCE The Greenbriefr Companies Inc.