1
                          [INTERPOOL, INC. LETTERHEAD]


CONTACT:  Raoul J. Witteveen
          (212) 916-3261


FOR IMMEDIATE RELEASE

              INTERPOOL ANNOUNCES AWARD OF GRAND ALLIANCE CONTRACT

         PRINCETON, NJ, April 14, 1997 - Interpool, Inc. (NYSE: IPX) announced
today that its wholly-owned subsidiary, Trac Lease, Inc., has been awarded a
contract by the Grand Alliance Chassis Pool to administer a fleet of up to
42,000 marine shipping container chassis. Trac will also administer over 30 pool
locations throughout the United States where the chassis are based. The 42,000
Grand Alliance chassis will make Trac one of the largest administrators of
chassis in the world.

         Martin Tuchman, Chairman of Interpool, said that Trac will employ the
"Poolstat" copyrighted computer software program which it licenses from its
shipping container affiliate, Interpool Limited, to administer the chassis and
the pools. The "Poolstat" advanced chassis computer software program permits
Trac to report to the steamship lines daily on the movement and condition of the
chassis and assist the lines in maintaining efficient inventory levels at the
chassis pools.

         Trac Lease owns or operates for Interpool approximately 57,000 chassis
which it leases primarily to steamship lines engaged in the international
intermodal transportation business. It has also operated chassis pools for the
past eleven years for state-run Port Authorities, railroads and terminal
operators throughout the United States.

         Interpool, originally founded in 1968, is one of the world's leading
lessors of cargo containers used in international trade and is the second
largest lessor of intermodal container chassis in the United States. Interpool
leases its containers and chassis to over 200 customers, including nearly all of
the world's 20 largest international container shipping lines.


                                      # # #