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                                                                    EXHIBIT 99.1

TRINITY CONTACT:                                         THRALL CONTACT:
Nancy Farrar (Media)                                     Thom Serafin
214-929-3298                                             312-943-1955

Jim Ivy (Investors)
214-589-8090


FOR IMMEDIATE RELEASE
AUGUST 13, 2001

               TRINITY INDUSTRIES' RAILCAR MANUFACTURING BUSINESS
                  AND THRALL CAR MANUFACTURING COMPANY TO MERGE

                COMBINATION CREATES GLOBAL RAIL SOLUTIONS LEADER


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         DALLAS, TX AND CHICAGO, IL -- AUGUST 13, 2001 -- Trinity Industries,
Inc. (NYSE:TRN) and Thrall Car Manufacturing Company, a privately held company,
today announced that they have entered into a definitive agreement under which
Thrall will merge its operations with Trinity Industries' railcar manufacturing
business in exchange for cash and Trinity stock. Under the terms of the
agreement, Trinity will pay approximately $165 million in cash and issue 7.15
million shares of its common stock to the shareholders of Thrall. Trinity has
also agreed to make additional payments, not to exceed $45 million over five
years, based on a formula related to annual railcar industry production levels.
Trinity currently has 37 million shares outstanding.

         Timothy R. Wallace, Chairman, President and CEO of Trinity Industries,
Inc., said, "The strategic combination of Trinity and Thrall's railcar
businesses creates an ideal platform for providing customers with a full range
of advanced railcar solutions. The structure of this transaction, including the
significant equity stake Thrall shareholders are taking in Trinity, and the
caliber and experience of this management team demonstrate Trinity and Thrall's
commitment to bring together the unique strengths of both organizations to serve
the evolving needs of the rail industry. In the current market we do not expect
this transaction to be immediately accretive to our earnings. In the past, we
have been very successful making strategic investments like this which generate
benefits in the long term."

         Craig J. Duchossois, current Chairman of Thrall, who will join the
Trinity Industries Board of Directors, said, "We firmly believe the synergy
between Trinity and Thrall will produce a stronger, more dynamic company for
today and well into the future. We're extraordinarily pleased about the merger
and the opportunities it creates to capitalize on the talents of the newly
combined team to provide customers with the most comprehensive line of product
offerings in the industry."

         The combined railcar manufacturing operation will be led by a
combination of the senior officers from Trinity and Thrall's railcar
manufacturing businesses. Michael E. Flannery, currently Vice Chairman of
Thrall, will serve as CEO of the combined railcar


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Page 2-Trinity and Thrall to Merge

enterprise and will report to Tim Wallace. Martin Graham, currently President
and Chief Operating Officer of Thrall, will be President of the Thrall-Trinity
Freight Car Division. Jeffrey Marsh, currently President of Trinity's Tank Car
Division, will remain in his current role. Patrick Wallace, currently President
of Trinity's Freight Car Division will be appointed President of Trinity's Rail
Component Parts Division, which will be a part of the new entity.

         Both Trinity and Thrall design and manufacture a wide variety of
railcars for the transportation of freight. Over the past three years, Trinity's
railcar business had average annual revenue of over $1.3 billion and an average
operating profit of $96 million. Over the comparable period, Thrall had average
annual revenue of over $700 million and an average operating profit of $57
million.

         The merger will offer several important strategic, operational and
financial benefits. The newly combined railcar manufacturing business will offer
customers an industry-leading, full product line of rail solutions, underscored
by Trinity's strength in the tank car segment, Thrall's strength in auto rack
manufacturing, and their combined research and development expertise across the
entire spectrum of railcars. Shareholders and customers will also benefit from
reduced operational costs through improvements in supply chain performance,
greater plant efficiency, the development of dedicated production lines and more
flexible production and delivery options. The transaction is expected to be
accretive to Trinity's earnings when annual railcar industry production reaches
or exceeds 35,000 railcars, a figure reached in eight of the last ten years.

         The transaction is expected to close by the end of the year, subject to
customary regulatory approvals.

         Trinity Industries, Inc., with headquarters in Dallas, Texas, is one of
the nation's leading diversified industrial companies. Trinity operates through
five principal business segments: the Railcar Segment, the Inland Barge Segment,
the Parts and Services Segment, the Construction Products Segment and the
Industrial Products Segment. Trinity's web site may be accessed at www.trin.net.

         Thrall Car Manufacturing Company is a leading international designer
and manufacturer of a broad line of freight railcars, and distributor of supply
parts, headquartered in Chicago Heights, Illinois. With four manufacturing
plants in the U.S. and two in Europe, Thrall's success is attributed to the
Company's record of design innovation and continuing focus on technology
leadership.

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