American Railcar Industries, Inc. Announces Joint Venture Agreement with Amtek Auto...

American Railcar Industries, Inc. Announces Joint Venture Agreement with Amtek Auto Ltd. to Manufacture Railcars in India

ST. CHARLES, Mo.--(Business Wire)--
American Railcar Industries, Inc. (NASDAQ: ARII) ("ARI") announced
today that, through a subsidiary, it has entered into a joint venture
agreement with a subsidiary of Amtek Auto Limited ("Amtek") to form a
joint venture to manufacture, sell and supply freight railcars and
their components to customers in India and other countries to be
agreed upon.

The joint venture, which will be owned 50% by the ARI subsidiary
and 50% by the Amtek subsidiary, is expected to manufacture products
from a new facility to be located in India. The parties currently
expect to commence construction of the facility during the second half
of this year, following final site selection. It is expected that the
joint venture could begin railcar production in 2009. The joint
venture would use manufacturing methods that ARI has developed and
would initially manufacture railcar types that are currently being
sold in India. The parties anticipate that the joint venture would
introduce and build railcars new to the Indian market, based on ARI
designs, within the next few years.

"We are excited to be joining with the strong management team of
Amtek to build railcars in India. We believe Amtek's depth of
manufacturing experience and knowledge of Indian markets supports our
partnership's short and long-term prospects for growth within India,"
stated James Unger, Chief Executive Officer of American Railcar
Industries. He added, "We believe there is also a significant
opportunity for component sourcing in India."

John Flintham, CEO of Amtek Auto Limited stated, "We are thrilled
to partner with ARI to build railcars in India. Our management team is
eager to combine ARI's success building high quality railcars
efficiently, with our proven manufacturing track record in India."

About American Railcar Industries, Inc.

American Railcar Industries, Inc. is a leading North American
manufacturer of hopper and tank railcars. ARI also repairs and
refurbishes railcars, provides fleet management services, and designs
and manufactures certain railcar and industrial components used in the
production of its railcars as well as railcars and non-railcar
industrial products produced by others. ARI provides its railcar
customers with integrated solutions through a comprehensive set of
high quality products and related services.

About Amtek Auto Limited

Amtek Transportation Division is a wholly owned subsidiary of
Amtek Auto Limited and is a newly formed subsidiary of the Amtek
Group.

Amtek Auto Limited is a leading international manufacturer of
Automotive Components and Assemblies with production facilities
located strategically across North America, Europe and Asia. Amtek's
extensive manufacturing facilities encompass iron, gravity and
aluminum castings, forgings and complex machining and assemblies.

Forward Looking Statement Disclaimer

This press release contains statements relating to our expected
financial performance and/or future business prospects, events and
plans that are "forward-looking statements" as defined under the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements represent the Company's estimates and assumptions only as
of the date of this press release. Such statements include, without
limitation, statements regarding the anticipated schedule for
construction of a new manufacturing facility and the production and
sale of railcars and railcar components to be manufactured at that
facility. These forward-looking statements are subject to known and
unknown risks and uncertainties that could cause actual results to
differ materially from the results described in or anticipated by our
forward-looking statements. Joint ventures involve numerous risks,
including difficulties associated with cooperation and conflicts of
interest among the parties. These risks may be increased due to the
necessity of coordinating geographically dispersed organizations with
different cultures. Construction of the new manufacturing facility is
subject to risks, including without limitation that the transaction
may not receive the necessary third party approvals, risks associated
with international operations, delays, unexpected costs and other
risks typically associated with joint ventures and such construction
projects, including obtaining any necessary financing on favorable
terms, any of which could impair or prevent the Company's ability to
realize anticipated benefits from the joint venture, secure customer
orders to support the joint venture's business, or to satisfy such
orders on a timely basis, if at all, any of which could adversely
impact the amount of revenue, if any, that the joint venture may
generate, and which could adversely affect the Company's financial
results. Other potential risks and uncertainties relating to the
Company and its business are described in the Company's filings with
the Securities and Exchange Commission. ARI expressly disclaims any
duty to provide updates to any forward-looking statements made in this
press release, whether as a result of new information, future events
or otherwise. More information about American Railcar Industries, Inc.
is available on its website at www.americanrailcar.com.

American Railcar Industries, Inc.
Dale C. Davies or Michael Obertop, 636-940-6000

Copyright Business Wire 2008