Reddyice                                           NEWS RELEASE

                                   Contact:     Steven J. Janusek
                                                Executive Vice President & CFO
                                                sjanusek@reddyice.com
                                                800-683-4423

                         REDDY ICE GROUP, INC. LAUNCHES
               TENDER OFFER AND CONSENT SOLICITATION IN CONNECTION
               WITH ITS 8 7/8% SENIOR SUBORDINATED NOTES DUE 2011

DALLAS, TEXAS - MARCH 23, 2005 - Reddy Ice Group, Inc. ("Reddy Ice") announced
on March 22, 2005 that it has commenced a cash tender offer for its $152,000,000
aggregate principal amount of 8 7/8% senior subordinated notes due 2011 (the
"Notes"). In connection with the tender offer, Reddy Ice is also soliciting
consents to certain proposed amendments to the Indenture governing the Notes.

The offer is scheduled to expire at 5:00 p.m., New York City time, on April 21,
2005 (the "Expiration Date"), unless extended or earlier terminated. The total
consideration (the "Total Consideration") for Notes validly tendered and
accepted for payment by 5:00 p.m., New York City time, on April 5, 2005 will be
equal to the sum of (x) 35% of the equity claw-back price ($1,088.75 per $1,000
principal amount of Notes validly tendered) and (y) 65% of the fixed spread
price. The fixed spread price is equal to the present value on the date of
payment for the Notes (the "Payment Date"), which will occur promptly after the
Expiration Date, of all future cash flows on the Notes (minus accrued and unpaid
interest up to, but not including, the Payment Date) to August 1, 2007, the
first date on which the Notes are redeemable, based on (a) the yield on the
3.25% U.S. Treasury Note due August 15, 2007 (the "Reference Security"), based
on the bid-side price for the Reference Security, as of 2:00 p.m., New York City
time, on April 6, 2005, the eleventh business day immediately preceding the
scheduled expiration date, as displayed on the Bloomberg Government Pricing
Monitor, Page PX5, plus (b) 75 basis points. In addition, holders who validly
tender and do not validly withdraw their Notes in the tender offer will receive
accrued and unpaid interest from the last interest payment date up to, but not
including, the Payment Date. Of this Total Consideration, $20 per $1,000
principal amount of the Notes represents a consent payment. No consent payment
will be made in respect of Notes tendered after 5:00 p.m., New York City time,
on April 5, 2005.

The proposed amendments to the Indenture governing the Notes would, among other
things, eliminate substantially all of the restrictive covenants and certain
events of default contained in the Indenture.

The offer is subject to the satisfaction of certain conditions, including there
being validly tendered and not validly withdrawn at least a majority of the
aggregate principal amount of the Notes outstanding and Reddy Ice having
available funds sufficient to pay the aggregate Total Consideration from the
anticipated proceeds of a new senior credit facility and from an offering of
equity by Reddy Ice Holdings, Inc., the parent of Reddy Ice, in connection with
the initial public offering of its common stock.




The terms of the tender offer and consent solicitation are described in Reddy
Ice's Offer to Purchase and Consent Solicitation Statement, dated March 22,
2005, and the related Consent and Letter of Transmittal and other related
documents. Copies of the Offer to Purchase and Consent Solicitation Statement
and related documents may be obtained from the Information Agent for the tender
offer and consent solicitation, Morrow & Co., Inc., at (800) 654-2468 (US
toll-free) and (212) 754-8000 (collect).

Credit Suisse First Boston LLC is the sole Dealer Manager and Solicitation Agent
for the Offer to Purchase and Consent Solicitation. Questions regarding the
Offer to Purchase and Consent Solicitation may be directed to Credit Suisse
First Boston LLC, Liability Management Group, at (800) 820-1653 (US toll-free)
and (212) 538-0652 (collect).

This release does not constitute an offer to purchase, a solicitation of an
offer to sell or a solicitation of consent with respect to any securities. The
offer is being made solely by the Offer to Purchase and Consent Solicitation
Statement dated March 22, 2005.

Company Information and Forward-Looking Statements

Reddy Ice manufactures and distributes packaged ice, serving approximately
82,000 customer locations in 31 states and the District of Columbia under the
Reddy Ice brand name.

The disclosures herein include forward-looking statements. We believe the
expectations reflected in such forward-looking statements are accurate. However,
we cannot assure you that such expectations will occur. Forward-looking
statements often include words such as "may," "should," "expect," "intend,"
"estimate," "anticipate," "believe," "predict," "plan," "potential," and
"continue" and the negatives of these terms and variations of them in similar
terminology. The forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results, performance
or achievements to be materially different from future results expressed or
implied by the forward-looking statements.

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