*********************************************************************

American Railcar Industries, Inc. Announces New Orders for 2,400 Railcars, Provides Update on the Third Quarter and the Marmaduke Plant Restart

St Charles MO September 26, 2006 - American Railcar Industries, Inc. ("ARI") today announced that it has entered into a new agreement to manufacture and sell 1,000 tank railcars to American Railcar Leasing LLC ("ARL"). Delivery of the new railcars is expected to be 500 railcars annually for the years 2008 and 2009. ARI expects to manufacture these railcars in the new manufacturing plant that is now being designed and will be built adjacent to the Company’s existing Marmaduke, Arkansas tank railcar plant. That plant is expected to be operational by the beginning of 2008 and is expected to increase ARI’s annual railcar production capacity by up to an additional 2,500 tank, Intermodal, or covered hopper railcars. ARL is controlled by Carl Icahn, our principal stockholder and chairman of our board of directors. Our new contract with ARL, together with our recently announced railcar contracts with two other important customers for the production of a total of 2,000 railcars per year in each of 2008 and 2009, provides us with sufficient railcar backlog to fill the initial expected capacity at our new plant through its first two years of anticipated operations.

ARI also announced today that ARL has exercised options for an additional 1,000 tank railcars to be produced at ARI’s existing Marmaduke plant in 2008, and for an additional 400 covered hopper railcars to be produced at ARI’s Paragould plant in 2008. Both the tank and covered hopper railcars to be manufactured for ARL under the options will be produced under the terms of an existing contract that was announced earlier this year and are in addition to ARL’s new order for 1,000 tank railcars mentioned above.

"We are very pleased to have received this new order from ARL, as well as their exercise of the two options, for a total of 2,400 new railcars. Our backlog continues to be very strong, and is expected to hit a new record this quarter. While we expect third quarter 2006 covered hopper railcar volumes to be strong when compared to last year, they will reflect some planned volume slowdown compared to the second quarter, as ARI’s production mix in the third quarter shifted to larger railcars with more complex paint and lining systems, as well as stainless steel covered hopper railcars, a more labor intensive product," commented James J. Unger, President and CEO of ARI. Mr. Unger also stated, "There is also some modest decline in volume as a result of very hot summer weather affecting manufacturing conditions."

As previously announced, the Company resumed manufacturing operations on August 7, 2006 at its Marmaduke, Arkansas tank railcar plant, which was damaged by a tornado on April 2, 2006. The plant is now running near full capacity producing general service tank railcars. The Company expects to begin producing specialty tank cars at the rebuilt plant by the end of the year. "We are very pleased with the timeline for the completion of repairs of the damage caused by the storm at Marmaduke, and with the speed with which we have returned the plant to production," commented Mr. Unger.

The Company is also pleased to report that the previously announced tank railcar expansion underway at the existing Marmaduke plant is progressing well, and is on target to add capacity for an additional 1,000 tank railcars annually by the end of this year. This expansion is in addition to the planned new manufacturing plant referred to above, that is to be built adjacent to the Company’s existing Marmaduke tank railcar plant.

Railroad Caboose Offered at Internet Auction

City of Toronto to revitalize the historic John Street Roundhouse: plan includes new railway museum

Toronto September 26, 2006 - Today, Toronto City Council approved an agreement in principle for the reuse and revitalization of the John Street Roundhouse that will include a new railway museum.

The John Street Roundhouse is a 32-bay semi-circular structure formerly used by Canadian Pacific Railway for rail car maintenance purposes and is now owned by the City. Since 1999, bays one to 11 have been leased to Steam Whistle Brewery while the other bays have been largely unused. The amendments to the existing lease will allow Steam Whistle Brewery to expand its brewery operation and provide additional revenue to the City. The agreement also includes a head lease for the roundhouse with State Developments, in partnership with Tenen Developing and Producing, for the restoration and reuse of the remainder of the building, and includes provisions for a railway museum and the restoration of the railway turntable.

"The revitalization of the historic John Street Roundhouse is the realization of a long held goal of the City of Toronto," said Mayor David Miller. "The proposed agreement will ensure that this national historic site will endure as a monument to Toronto's industrial past, will continue to enrich Toronto's architectural fabric and provide a lasting legacy for future generations."

The adaptive reuse of historic structures is a key component of the City of Toronto's Culture Plan. The John Street Roundhouse is one of a number of adaptive reuse projects of the Economic Development, Culture and Tourism Division. Other initiatives include the historic Wychwood Car Barns and the Don Valley Brickworks. The John Street Roundhouse and its associated heritage structures were designated as a National Historic Site in 1990 and under the Ontario Heritage Act by City Council in 1996.

"Revitalization and meaningful animation of our historic and architectural treasures ensure Toronto is recognized as one of the world's cultural centers and a dynamic, livable city," said Rita Davies, Executive Director of Toronto Culture. Creative uses for historic structures is also called for in the recently released, Imagine a Toronto... Strategies for a Creative City, an international comparative study that highlights opportunities for enhancing the arts and creative industries in Toronto.

The John Street Roundhouse complex was constructed by the Canadian Pacific Railway in

1929-1931 to service steam passenger locomotives using the nearby Toronto Union Station. The John Street Roundhouse was a state-of-the-art structure and the most advanced in Canada as it incorporated new direct-steaming technology. For almost two decades following its construction, the John Street Roundhouse was one of the most important and busiest roundhouse complexes servicing steam passenger locomotives in the national rail system.

New York September 25, 2006 - UsableNet, the leader in providing mobile and assistive web solutions to corporate, university, and government agency web sites, today announced that Amtrak is using UsableNet's Lift Mobile to make Amtrak.com the first mobile travel site to offer ticket sales, real-time train status information, and access to the same user account features available on Amtrak's main site.

"With this solution, mobile users get a real-time, specialized view that works on all devices," said Jason Taylor, Director of Mobile Products, UsableNet. "By using Lift Mobile, Amtrak was able to deliver these services without requiring any additional IT or web development resources."

Customers do not need to register for Amtrak Mobile and there are no special downloads required. The mobile site may be accessed simply by logging onto Amtrak.com from any web-enabled PDA or cell phone. The user will automatically be taken to a mobile device-friendly view. From there, customers may check the status of any train in the Amtrak system; make, change, or cancel a reservation; or sign into their personal profile.

Lift Mobile is a complete, seamless solution that allows organizations to provide users with mobile access to their web sites without requiring any IT or marketing resources, or the need to develop separate sites for mobile users.

Lift Mobile accomplishes this by creating a dynamic view of existing web content and services specialized for viewing by users of RIM BlackBerry, Palm Treo, all PDAs, and web-enabled cell phones -- all without requiring special registration, downloads, or going to a separate mobile site.

Lift Mobile is a full-service, secure solution that allows organizations to rapidly expand their services beyond desktop web users to the handheld and mobile phone market. It can be implemented and launched with no impact to IT and web development resources.

Omaha September 25, 2006 - Working Mother magazine announced that it has again named Union Pacific one of the nation's 100 Best Companies for Working Mothers. Working Mother has included North America's largest railroad for the fifth time in six years.

"We are thrilled that Working Mother has recognized our efforts to create a culture that helps employees balance work and families," said Barb Schaefer, senior vice president-Human Resources for Union Pacific. "We are in the midst of a hiring campaign, and as we continue to hire new employees across our 23-state system, we are making every effort to foster an environment that will attract and retain working parents."

Compensation, advancement, flexibility, childcare, parental leave and work/life balance are all high priorities for the railroad. As a 24/7 operation, Union Pacific takes extra measures to take care of its employees. Benefits include:

• An integrated health and wellness initiative that stresses healthy lifestyles. UP employees are urged to take responsibility for their health and can take part in company-sponsored smoking cessation programs, weight management programs and fitness programs.

• "Plan Tomorrow, Today," a financial literacy campaign introduced in 2006 to simplify communication about retirement benefits.

• Rest Easy, which pays half the cost of a nurse to go to an employee's home if a child or dependent is sick.

• LifeCare Services, a 24/7 referral service to help employees find information, support programs and referral services for children and elder care.

• A 19,000-square-foot state-of-the-art fitness facility within the railroad's headquarters in downtown Omaha. The facility includes 50 strength training machines and 50 aerobic machines supervised by American College of Sports Medicine certified staff. Free membership is provided to employees, spouses, retirees and contractors. For employees outside of Omaha, UP sponsors free membership at more than 500 facilities throughout its 23-state system.

• A $5 million, 20,000-square-foot childcare center near headquarters. The center opened in 2005 and can accommodate approximately 200 children between the ages of six weeks and six years.

• Expanded special programming from LEAD (Lead, Educate, Achieve, and Develop), the railroad's women's networking group, delivered to the field via tapes and teleconferences.

• Part-time work (while keeping their benefits), flextime, job sharing and telecommuting.

"It is important to realize that it is not enough for companies to have work/life programs; we measure the success of these programs," said Suzanne Riss, Editor-in-Chief of Working Mother magazine. "We track whether employees use them, and whether the programs are getting better each year. Union Pacific has risen to our challenge."

In surveying companies that applied for this year's list, Working Mother gave particular weight to questions in two areas: flexible scheduling, the most critical benefit for working mothers; and leave time, because it is essential for parents to be able to take time off from work.

The complete list of the Working Mother 100 Best Companies can be found at www.workingmother.com and will be profiled in the October issue of Working Mother magazine.

Fort Worth September 22, 2006 - BNSF Railway (BNSF) today announced that it was honored last night by the national committee for Employer Support of the Guard and Reserve (ESGR) as the recipient of the 2006 Secretary of Defense Employer Support Freedom Award.

BNSF joins an elite group of 15 companies selected from more than 5,000 nominations, honored for their exceptional support of the National Guard and Reserves.

"We value our employees who choose to serve and are honored that our personnel policies have been recognized for that support," said John Lanigan, BNSF Executive Vice President and Chief Marketing Officer, who accepted the honor during the awards ceremony Thursday, Sept. 21, 2006 at the Ronald Reagan Building and International Trade Center in Washington, D.C.

"BNSF recognizes the commitment and talent associated with U.S. military service and recognizes the values and sacrifices by those employees called to active duty," said Lanigan, who retired in 1997 from the U.S. Coast Guard Reserve with over 20 years of active duty and reserve service. He commanded six units during his career, including a port security unit that deployed to Operation Desert Storm.

ESGR is a Department of Defense agency established in 1972. The mission of ESGR is to gain and maintain active support from all public and private employers for the men and women of the National Guard and Reserve.

ESGR volunteers provide free education, consultation, and if necessary mediation for employers of Guard and Reserve employees. The organization presently has more the 1.2 million members.

=============================================================