| Delaware                                                                 | 36-4007085                                     |
|--------------------------------------------------------------------------|------------------------------------------------|
| (State      or other jurisdiction of incorporation      or organization) | (I.R.S.      Employer Identification      No.) |

|  PART I.  Financial      Information:                                                                                      |  Page |
|-------------------------------------------------------------------------------------------------------------------------------------------|------------|
|                                                                                                                                      |       |
|  Hub Group, Inc. -      Registrant                                                                                                   |       |
|                                                                                                                                      |       |
|  Condensed      Consolidated Balance Sheets – September 30, 2008 (unaudited)      andDecember 31,      2007          |  3    |
|                                                                                                                                      |       |
| Unaudited      Condensed Consolidated Statements of Income - Three Monthsand Nine      Months Ended September 30, 2008 and 2007 |  4    |
|                                                                                                                                      |       |
| Unaudited      Condensed Consolidated Statement of Stockholders’ Equity -      NineMonths Ended September 30,      2008        |  5    |
|                                                                                                                                      |       |
| Unaudited      Condensed Consolidated Statements of Cash Flows - NineMonths Ended September 30,      2008 and 2007                   |  6    |
|                                                                                                                                      |       |
|  Notes to      Unaudited Condensed Consolidated Financial Statements                                                                 |  7    |
|                                                                                                                                      |       |
| Management’s      Discussion and Analysis of Financial Condition andResults of    Operations                                        |  9    |
|                                                                                                                                      |       |
|  Quantitative      and Qualitative Disclosures About Market Risk                                                                     | 14         |
|                                                                                                                                      |       |
|  Controls and      Procedures                                                                                                        | 14         |
|                                                                                                                                      |       |
|  PART II.  Other      Information                                                                                          | 15         |

| HUB      GROUP, INC.                                                                                                                                                                                                                    |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| CONDENSED      CONSOLIDATED BALANCE SHEETS                                                                                                                                                                                              |   |
| (in      thousands, except share amounts)                                                                                                                                                                                               |   |
|                                                                                                                                                                                                                                    |   |   |   |
|                                                                                                                                                                                                                                    |   | September      30,2008 |   |   | December      31,2007 |   |
| ASSETS                                                                                                                                                                                                                                  |   | (unaudited) |   |   |   |   |
| CURRENT      ASSETS:                                                                                                                                                                                                                    |   |   |   |   |   |   |
| Cash      and cash equivalents                                                                                                                                                                                                          |   | $ | 63,378 |   |   | $ | 38,002 |   |
| Accounts      receivable                                                                                                                                                                                                                |   |   |   |   |   |   |   |   |
| Trade,      net                                                                                                                                                                                                                         |   |   | 202,901 |   |   |   | 160,944 |   |
| Other                                                                                                                                                                                                                                   |   |   | 12,594 |   |   |   | 9,828 |   |
| Prepaid      taxes                                                                                                                                                                                                                      |   |   | 86 |   |   |   | 86 |   |
| Deferred      taxes                                                                                                                                                                                                                     |   |   | 4,024 |   |   |   | 5,044 |   |
| Prepaid      expenses and other current assets                                                                                                                                                                                          |   |   | 5,734 |   |   |   | 4,318 |   |
| TOTAL      CURRENT ASSETS                                                                                                                                                                                                               |   |   | 288,717 |   |   |   | 218,222 |   |
|                                                                                                                                                                                                                                    |   |   |   |   |   |   |   |   |
| Restricted      investments                                                                                                                                                                                                             |   |   | 7,089 |   |   |   | 5,206 |   |
| Property      and equipment, net                                                                                                                                                                                                        |   |   | 30,955 |   |   |   | 29,662 |   |
| Other      intangibles, net                                                                                                                                                                                                             |   |   | 6,722 |   |   |   | 7,056 |   |
| Goodwill,      net                                                                                                                                                                                                                      |   |   | 230,448 |   |   |   | 230,448 |   |
| Other      assets                                                                                                                                                                                                                       |   |   | 1,165 |   |   |   | 1,373 |   |
| TOTAL      ASSETS                                                                                                                                                                                                                       |   | $ | 565,096 |   |   | $ | 491,967 |   |
| LIABILITIES      AND STOCKHOLDERS' EQUITY                                                                                                                                                                                               |   |   |   |   |   |   |   |   |
| CURRENT      LIABILITIES:                                                                                                                                                                                                               |   |   |   |   |   |   |   |   |
| Accounts      payable                                                                                                                                                                                                                   |   |   |   |   |   |   |   |   |
| Trade                                                                                                                                                                                                                                   |   | $ | 150,434 |   |   | $ | 123,020 |   |
| Other                                                                                                                                                                                                                                   |   |   | 9,189 |   |   |   | 6,683 |   |
| Accrued      expenses                                                                                                                                                                                                                   |   |   |   |   |   |   |   |   |
| Payroll                                                                                                                                                                                                                                 |   |   | 13,537 |   |   |   | 16,446 |   |
| Other                                                                                                                                                                                                                                   |   |   | 28,067 |   |   |   | 32,408 |   |
|        Related      party payable                                                                                                                                                                    |   |   | - |   |   |   | 5,000 |   |
| TOTAL      CURRENT LIABILITIES                                                                                                                                                                                                          |   |   | 201,227 |   |   |   | 183,557 |   |
|                                                                                                                                                                                                                                    |   |   |   |   |   |   |   |   |
| Non-current      liabilities                                                                                                                                                                                                            |   |   | 10,121 |   |   |   | 10,363 |   |
| Deferred      taxes                                                                                                                                                                                                                     |   |   | 53,587 |   |   |   | 47,148 |   |
|                                                                                                                                                                                                                                    |   |   |   |   |   |   |   |   |
| STOCKHOLDERS'      EQUITY:                                                                                                                                                                                                              |   |   |   |   |   |   |   |   |
| Preferred      stock, $.01 par value;  2,000,000 shares      authorized;  no shares issued or outstanding in 2008 and      2007                                                                                     |   |   | - |   |   |   | - |   |
| Common      stock                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |
| Class      A:  $.01 par value;  97,337,700 shares authorized and      41,224,792 shares issued in 2008 and 2007;  36,986,767 shares      outstanding in 2008 and 36,666,731 shares outstanding in    2007 |   |   | 412 |   |   |   | 412 |   |
| Class      B:  $.01 par value; 662,300 shares authorized; 662,296 shares      issued and outstanding in 2008 and 2007                                                                                                         |   |   | 7 |   |   |   | 7 |   |
| Additional      paid-in capital                                                                                                                                                                                                         |   |   | 173,158 |   |   |   | 176,657 |   |
| Purchase      price in excess of predecessor basis, net of tax benefit of      $10,306                                                                                                                                                  |   |   | (15,458 | ) |   |   | (15,458 | ) |
| Retained      earnings                                                                                                                                                                                                                  |   |   | 251,077 |   |   |   | 206,042 |   |
| Treasury      stock; at cost, 4,238,025 shares in 2008 and 4,558,061 shares in      2007                                                                                                                                           |   |   | (109,035 | ) |   |   | (116,761 | ) |
| TOTAL      STOCKHOLDERS' EQUITY                                                                                                                                                                                                         |   |   | 300,161 |   |   |   | 250,899 |   |
|                                                                                                                                                                                                                                    |   |   |   |   |   |   |   |   |
| TOTAL      LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                                                                                         |   | $ | 565,096 |   |   | $ | 491,967 |   |
|                                                                                                                                                                                                                                    |   |
| See      notes to unaudited condensed consolidated financial      statements.                                                                                                                                                           |   |

| HUB      GROUP, INC.                                                          |   |
|-------------------------------------------------------------------------------|--------|
| UNAUDITED      CONDENSED CONSOLIDATED STATEMENTS OF INCOME                    |   |
| (in      thousands, except per share amounts)                                 |   |
|                                                                          |   |   |   |   |   |   |   |
|                                                                          |   | Three      Months |   |   | Nine      Months |   |   |
|                                                                          |   | Ended      September 30, |   |   | Ended      September 30, |   |   |
|                                                                          |   |   |   |   |   |   |   |   |   |   |   |
|                                                                          |   | 2008 |   |   | 2007 |   |   |   |  2008 |   |   |   | 2007 |   |   |   |
|                                                                          |   |   |   |   |   |   |   |   |   |   |
| Revenue                                                                       |   | $ | 514,212 |   |   | $ | 417,842 |   |   | $ | 1,430,136 |   |   | $ | 1,212,704 |   |
| Transportation      costs                                                     |   |   | 451,052 |   |   |   | 360,332 |   |   |   | 1,249,635 |   |   |   | 1,040,770 |   |
| Gross      margin                                                             |   |   | 63,160 |   |   |   | 57,510 |   |   |   | 180,501 |   |   |   | 171,934 |   |
|                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Costs      and expenses:                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Salaries      and benefits                                                    |   |   | 24,116 |   |   |   | 22,100 |   |   |   | 73,780 |   |   |   | 71,887 |   |
| General      and administrative                                               |   |   | 10,766 |   |   |   | 9,596 |   |   |   | 31,393 |   |   |   | 31,415 |   |
| Depreciation      and amortization                                            |   |   | 995 |   |   |   | 1,080 |   |   |   | 2,987 |   |   |   | 3,455 |   |
| Total      costs and expenses                                                 |   |   | 35,877 |   |   |   | 32,776 |   |   |   | 108,160 |   |   |   | 106,757 |   |
|                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating      income                                                         |   |   | 27,283 |   |   |   | 24,734 |   |   |   | 72,341 |   |   |   | 65,177 |   |
|                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other      income (expense):                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest      expense                                                         |   |   | (31 | ) |   |   | (33 | ) |   |   | (83 | ) |   |   | (78 | ) |
| Interest      and dividend income                                             |   |   | 362 |   |   |   | 711 |   |   |   | 1,040 |   |   |   | 1,967 |   |
| Other,      net                                                               |   |   | (58 | ) |   |   | 24 |   |   |   | 28 |   |   |   | 82 |   |
| Total      other income                                                       |   |   | 273 |   |   |   | 702 |   |   |   | 985 |   |   |   | 1,971 |   |
|                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income      before provision for income taxes                                 |   |   | 27,556 |   |   |   | 25,436 |   |   |   | 73,326 |   |   |   | 67,148 |   |
|                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Provision      for income taxes                                               |   |   | 10,626 |   |   |   | 8,828 |   |   |   | 28,291 |   |   |   | 25,346 |   |
|                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      income                                                               |   | $ | 16,930 |   |   | $ | 16,608 |   |   | $ | 45,035 |   |   | $ | 41,802 |   |
|                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic      earnings per common share                                          |   | $ | 0.45 |   |   | $ | 0.43 |   |   | $ | 1.21 |   |   | $ | 1.07 |   |
|                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted      earnings per common share                                        |   | $ | 0.45 |   |   | $ | 0.42 |   |   | $ | 1.20 |   |   | $ | 1.06 |   |
|                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic      weighted average number of shares outstanding                      |   |   | 37,209 |   |   |   | 38,777 |   |   |   | 37,167 |   |   |   | 39,026 |   |
|                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted      weighted average number of shares outstanding                    |   |   | 37,541 |   |   |   | 39,230 |   |   |   | 37,478 |   |   |   | 39,511 |   |
|                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                          |   |   |   |   |   |   |   |   |   |   |   |
| See      notes to unaudited condensed consolidated financial      statements. |   |

| HUB      GROUP, INC                                                             |   |
|---------------------------------------------------------------------------------|--------|
| UNAUDITED      CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY   |   |
| For      the nine months ended September 30, 2008                               |   |
| (in      thousands, except shares)                                              |   |
|                                                                            |   |   |   |
|                                                                            |   | September      30, |   |
|                                                                            |   | 2008 |   |
| Class      A & B Common Stock Shares Outstanding                            |   |   |   |
| Beginning      of year                                                          |   |   | 37,329,027 |   |
| Purchase      of treasury shares                                                |   |   | (67,809 | ) |
| Treasury      shares issued for restricted stock and stock options    exercised |   |   | 387,845 |   |
| Ending      balance                                                             |   |   | 37,649,063 |   |
|                                                                            |   |   |   |   |
| Class      A & B Common Stock Amount                                        |   |   |   |   |
| Beginning      of year                                                          |   | $ | 419 |   |
| Ending      balance                                                             |   |   | 419 |   |
|                                                                            |   |   |   |   |
| Additional      Paid-in Capital                                                 |   |   |   |   |
| Beginning      of year                                                          |   |   | 176,657 |   |
| Exercise      of non-qualified stock options                                    |   |   | (3,989 | ) |
| Share-based      compensation expense                                           |   |   | 3,332 |   |
| Tax      benefit of share-based compensation plans                              |   |   | 2,709 |   |
| Issuance      of restricted stock awards, net of forfeitures                    |   |   | (5,551 | ) |
| Ending      balance                                                             |   |   | 173,158 |   |
|                                                                            |   |   |   |   |
| Purchase      Price in Excess of Predecessor Basis, Net of Tax                  |   |   |   |   |
| Beginning      of year                                                          |   |   | (15,458 | ) |
| Ending      balance                                                             |   |   | (15,458 | ) |
|                                                                            |   |   |   |   |
| Retained      Earnings                                                          |   |   |   |   |
| Beginning      of year                                                          |   |   | 206,042 |   |
| Net      income                                                                 |   |   | 45,035 |   |
| Ending      balance                                                             |   |   | 251,077 |   |
|                                                                            |   |   |   |   |
| Treasury      Stock                                                             |   |   |   |   |
| Beginning      of year                                                          |   |   | (116,761 | ) |
| Purchase      of treasury shares                                                |   |   | (2,215 | ) |
| Issuance      of restricted stock and exercise of stock options                 |   |   | 9,941 |   |
| Ending      balance                                                             |   |   | (109,035 | ) |
|                                                                            |   |   |   |   |
| Total      stockholders’ equity                                           |   | $ | 300,161 |   |
|                                                                            |   |   |   |   |
| See      notes to unaudited condensed consolidated financial      statements.   |   |

| HUB      GROUP, INC.                                                                                                             |   |
|----------------------------------------------------------------------------------------------------------------------------------|--------|
| UNAUDITED      CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS                                                                   |   |
| (in      thousands)                                                                                                              |   |
|                                                                                                                             |   |   |   |
|                                                                                                                             |   | Nine      Months Ended September 30, |   |
|                                                                                                                             |   | 2008 |   |   | 2007 |   |
| Cash      flows from operating activities:                                                                                       |   |   |   |   |   |   |
|     Net      income                                                                                          |   | $ | 45,035 |   |   | $ | 41,802 |   |
|     Adjustments      to reconcile net income to net cash provided by operating      activities:              |   |   |   |   |   |   |   |   |
|        Depreciation      and amortization                                                     |   |   | 5,326 |   |   |   | 5,475 |   |
|        Deferred      taxes                                                                    |   |   | 7,459 |   |   |   | 3,178 |   |
|        Compensation      expense related to share-based compensation plans                    |   |   | 3,332 |   |   |   | 2,893 |   |
|        Loss      (gain) on sale of assets                                                     |   |   | 77 |   |   |   | (156 | ) |
|     Changes      in operating assets and liabilities:                                                        |   |   |   |   |   |   |   |   |
|        Restricted      investments                                                            |   |   | (1,883 | ) |   |   | (2,099 | ) |
|        Accounts      receivable, net                                                          |   |   | (44,723 | ) |   |   | (26,244 | ) |
|        Prepaid      taxes                                                                     |   |   | - |   |   |   | 2,033 |   |
|        Prepaid      expenses and other current assets                                         |   |   | (1,416 | ) |   |   | (794 | ) |
|        Other      assets                                                                      |   |   | 208 |   |   |   | 21 |   |
|        Accounts      payable                                                                  |   |   | 29,920 |   |   |   | 12,724 |   |
|        Accrued      expenses                                                                  |   |   | (7,250 | ) |   |   | 1,909 |   |
|        Non      current liabilities                                                           |   |   | (242 | ) |   |   | 662 |   |
|             Net      cash provided by operating activities           |   |   | 35,843 |   |   |   | 41,404 |   |
| Cash      flows from investing activities:                                                                                       |   |   |   |   |   |   |   |   |
|      Proceeds      from sale of equipment                                                               |   |   | 857 |   |   |   | 715 |   |
|      Purchases      of property and equipment                                                           |   |   | (7,219 | ) |   |   | (8,203 | ) |
|      Cash      used in acquisition of Comtrak, Inc.                                                     |   |   | (5,000 | ) |   |   | (5,000 | ) |
|             Net      cash used in investing activities               |   |   | (11,362 | ) |   |   | (12,488 | ) |
| Cash      flows from financing activities:                                                                                       |   |   |   |   |   |   |   |   |
|      Proceeds      from stock options exercised                                                         |   |   | 401 |   |   |   | 703 |   |
|      Purchase      of treasury stock                                                                    |   |   | (2,215 | ) |   |   | (37,142 | ) |
|      Excess      tax benefits from share-based compensation                                             |   |   | 2,709 |   |   |   | 3,856 |   |
|             Net      cash provided by (used in) financing activities |   |   | 895 |   |   |   | (32,583 | ) |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| Net      increase (decrease) in cash and cash equivalents                                                                        |   |   | 25,376 |   |   |   | (3,667 | ) |
| Cash      and cash equivalents beginning of period                                                                               |   |   | 38,002 |   |   |   | 43,491 |   |
| Cash      and cash equivalents end of period                                                                                     |   | $ | 63,378 |   |   | $ | 39,824 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| Supplemental      disclosures of cash paid for:                                                                                  |   |   |   |   |   |   |   |   |
|      Interest                                                                                           |   | $ | 83 |   |   | $ | 78 |   |
|      Income      taxes                                                                                  |   | $ | 19,932 |   |   | $ | 14,518 |   |
|                                                                                                                             |   |
| See      notes to unaudited condensed consolidated financial      statements.                                                    |   |

|                                                 |   | Three      Months Ended |   |   | Three      Months Ended |   |
|------------------------------------------------------|--------|-------------------------|--------|--------|-------------------------|--------|
|                                                 |   | September      30, 2008 |   |   | September      30, 2007 |   |
|                                                 |   | Income                  |   |   | Shares                  |   |   | Per      Share Amount |   |   | Income |   |   | Shares |   |   | Per      Share Amount |   |
| Basic      EPS                                       |   |                    |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Net      income                                |   | $                       | 16,930 |   |                    |   | 37,209 |   |   | $ | 0.45 |   |   | $ | 16,608 |   |   |   | 38,777 |   |   | $ | 0.43 |   |
|                                                 |   |                    |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Effect      of Dilutive Securities                   |   |                    |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock      options & restricted  stock |   |                    |   |   |                    |   | 332 |   |   |   |   |   |   |   |   |   |   |   | 453 |   |   |   |   |   |
|                                                 |   |                    |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted      EPS                                     |   | $                       | 16,930 |   |                    |   | 37,541 |   |   | $ | 0.45 |   |   | $ | 16,608 |   |   |   | 39,230 |   |   | $ | 0.42 |   |

|                                                       |   | Nine      Months Ended  |   |   | Nine      Months Ended  |   |
|------------------------------------------------------------|--------|-------------------------|--------|--------|-------------------------|--------|
|                                                       |   | September      30, 2008 |   |   | September      30, 2007 |   |
|                                                       |   | Income                  |   |   | Shares                  |   |   | Per      Share Amount |   |   | Income |   |   | Shares |   |   | Per      Share Amount |   |
| Basic      EPS                                             |   |                    |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Net      income                                      |   | $                       | 45,035 |   |                    |   | 37,167 |   |   | $ | 1.21 |   |   | $ | 41,802 |   |   |   | 39,026 |   |   | $ | 1.07 |   |
|                                                       |   |                    |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Effect      of Dilutive Securities                         |   |                    |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Stock      options & restricted  stock |   |                    |   |   |                    |   | 311 |   |   |   |   |   |   |   |   |   |   |   | 485 |   |   |   |   |   |
|                                                       |   |                    |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted      EPS                                           |   | $                       | 45,035 |   |                    |   | 37,478 |   |   | $ | 1.20 |   |   | $ | 41,802 |   |   |   | 39,511 |   |   | $ | 1.06 |   |

| ·   | the      degree and rate of market growth in the domestic intermodal, truck      brokerage and logistics markets served byus; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------|

| ·   | deterioration      in our relationships with existing railroads or adverse changes to the      railroads’ operating rules; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------|

| ·   | changes      in rail service conditions or adverse weather  conditions; |
|--------------------|-------------------------------------------------------------------------|

| ·   | further      consolidation of railroads; |
|--------------------|------------------------------------------|

| ·   | the      impact of competitive pressures in the marketplace, including entry of new      competitors, direct marketing efforts by the railroads or marketing      efforts of asset-based carriers; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | changes      in rail, drayage and trucking companycapacity; |
|--------------------|-------------------------------------------------------------|

| ·   | railroads      moving away from ownership of intermodalassets; |
|--------------------|----------------------------------------------------------------|

| ·   | equipment      shortages or equipment surplus; |
|--------------------|------------------------------------------------|

| ·   | changes      in the cost of services from rail, drayage, truck or other      vendors; |
|--------------------|---------------------------------------------------------------------------------------|

| ·   | increases      in costs for independent contractors due to regulatory, judicial and legal      changes; |
|--------------------|---------------------------------------------------------------------------------------------------------|

| ·   | labor      unrest in the rail, drayage or trucking company    communities; |
|--------------------|----------------------------------------------------------------------------|

| ·   | general      economic and business conditions; |
|--------------------|------------------------------------------------|

| ·   | significant      deterioration in our customer’s financial condition, particularly in the      retail sector; |
|--------------------|---------------------------------------------------------------------------------------------------------------------|

| ·   | fuel      shortages or fluctuations in fuelprices; |
|--------------------|----------------------------------------------------|

| ·   | increases      in interest rates; |
|--------------------|-----------------------------------|

| ·   | changes      in homeland security or terroristactivity; |
|--------------------|---------------------------------------------------------|

| ·   | difficulties      in maintaining or enhancing our information technology      systems; |
|--------------------|----------------------------------------------------------------------------------------|

| ·   | changes      to or new governmental regulation; |
|--------------------|-------------------------------------------------|

| ·   | loss      of several of our largestcustomers; |
|--------------------|-----------------------------------------------|

| ·   | inability      to recruit and retain keypersonnel; |
|--------------------|----------------------------------------------------|

| ·   | inability      to recruit and retain drivers and owner  operators; |
|--------------------|--------------------------------------------------------------------|

| ·   | changes      in insurance costs and claims expense;and |
|--------------------|--------------------------------------------------------|

| ·   | inability      to close and successfully integrate any future business      combinations. |
|--------------------|-------------------------------------------------------------------------------------------|

|                 |   | Three      Months Ended |    |   | Nine      Months Ended |   |
|----------------------|--------|-------------------------|---------|--------|------------------------|--------|
|                 |   | September      30,      |    |   | September      30,     |   |
|                 |   |                    |    |   |                   |   |   | % |   |   |   |   |   |   |   |   | % |   |
|                 |   | 2008                    |    |   | 2007                   |   |   | Change |   |   | 2008 |   |   | 2007 |   |   | Change |   |
|                 |   |                    |    |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenue              |   |                    |    |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Intermodal           |   | $                       | 369,668 |   |                   | $      | 303,289 |   |   |   | 21.9 | % |   | $ | 1,024,079 |   |   | $ | 891,999 |   |   |   | 14.8 | % |
| Truck      brokerage |   |                    | 101,190 |   |                   |   | 78,441 |   |   |   | 29.0 |   |   |   | 289,766 |   |   |   | 227,089 |   |   |   | 27.6 |   |
| Logistics            |   |                    | 43,354  |   |                   |   | 36,112 |   |   |   | 20.1 |   |   |   | 116,291 |   |   |   | 93,616 |   |   |   | 24.2 |   |
| Total      revenue   |   | $                       | 514,212 |   |                   | $      | 417,842 |   |   |   | 23.1 | % |   | $ | 1,430,136 |   |   | $ | 1,212,704 |   |   |   | 17.9 | % |

|                                                             |   | Three      Months Ended |   |   | Nine      Months Ended |   |
|------------------------------------------------------------------|--------|-------------------------|--------|--------|------------------------|--------|
|                                                             |   | September      30,      |   |   | September      30,     |   |
|                                                             |   | 2008                    |   |   | 2007                   |   |   | 2008 |   |   | 2007 |   |
|                                                             |   |                    |   |   |                   |   |   |   |   |   |   |   |
| Revenue                                                          |   |                    | 100.0  | %      |                   |   | 100.0 | % |   |   | 100.0 | % |   |   | 100.0 | % |
|                                                             |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Transportation      costs                                        |   |                    | 87.7   |   |                   |   | 86.2 |   |   |   | 87.4 |   |   |   | 85.8 |   |
|                                                             |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Gross      margin                                                |   |                    | 12.3   |   |                   |   | 13.8 |   |   |   | 12.6 |   |   |   | 14.2 |   |
|                                                             |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Costs      and expenses:                                         |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|      Salaries      and benefits         |   |                    | 4.7    |   |                   |   | 5.3 |   |   |   | 5.2 |   |   |   | 5.9 |   |
|      General      and administrative    |   |                    | 2.1    |   |                   |   | 2.3 |   |   |   | 2.2 |   |   |   | 2.6 |   |
|      Depreciation      and amortization |   |                    | 0.2    |   |                   |   | 0.3 |   |   |   | 0.2 |   |   |   | 0.3 |   |
| Total      costs and expenses                                    |   |                    | 7.0    |   |                   |   | 7.9 |   |   |   | 7.6 |   |   |   | 8.8 |   |
|                                                             |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Operating      income                                            |   |                    | 5.3    |   |                   |   | 5.9 |   |   |   | 5.0 |   |   |   | 5.4 |   |
|                                                             |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Other      income:                                               |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|      Interest      and dividend income  |   |                    | 0.1    |   |                   |   | 0.2 |   |   |   | 0.1 |   |   |   | 0.1 |   |
|      Total      other income            |   |                    | 0.1    |   |                   |   | 0.2 |   |   |   | 0.1 |   |   |   | 0.1 |   |
|                                                             |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Income      before provision for income taxes                    |   |                    | 5.4    |   |                   |   | 6.1 |   |   |   | 5.1 |   |   |   | 5.5 |   |
|                                                             |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Provision      for income taxes                                  |   |                    | 2.1    |   |                   |   | 2.1 |   |   |   | 2.0 |   |   |   | 2.1 |   |
|                                                             |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Net      income                                                  |   |                    | 3.3    | %      |                   |   | 4.0 | % |   |   | 3.1 | % |   |   | 3.4 | % |

|                     |   |   |   |
|--------------------------|--------|--------|--------|
| 2008                     |   | $      | 5,287  |   |
| 2009                     |   |   | 19,323 |   |
| 2010                     |   |   | 16,902 |   |
| 2011                     |   |   | 15,303 |   |
| 2012                     |   |   | 13,673 |   |
| 2013      and thereafter |   |   | 6,959  |   |
|                     |   | $      | 77,447 |   |

| 2008                     |   | $      | 145   |   |
|--------------------------|--------|--------|-------|--------|
| 2009                     |   |   | 705   |   |
| 2010                     |   |   | 1,579 |   |
| 2011                     |   |   | 475   |   |
| 2012                     |   |   | 590   |   |
| 2013      and thereafter |   |   | 6,245 |   |
|                     |   | $      | 9,739 |   |

|                                                                    |   | Total      Number of Shares Purchased |   |   | Average      Price Paid Per Share |   |   | Total      Number of Shares Purchased as Part of Publicly Announced    Plan |   |   | Maximum      Value of Shares that May Yet Be Purchased Under the Plan(in      000’s) |   |
|-------------------------------------------------------------------------|--------|---------------------------------------|--------|--------|-----------------------------------|--------|--------|-----------------------------------------------------------------------------|--------|--------|--------------------------------------------------------------------------------------------|--------|
| July      1 toJuly      31                                              |   |                                  | 4,900  |   |                              | $      | 31.00  |                                                                        |   |   | 4,900                                                                                      |   |   | $ | 74,848 |   |
| August      1 toAugust      31                                          |   |                                  | --     |   |                              | $      | --     |                                                                        |   |   | --                                                                                         |   |   |   | 74,848 |   |
| September      1 toSeptember      30                                    |   |                                  | 33,900 |   |                              | $      | 36.87  |                                                                        |   |   | 33,900                                                                                     |   |   |   | 73,598 |   |
|            Total |   |                                  | 38,800 |   |                              | $      | 36.12  |                                                                        |   |   | 38,800                                                                                     |   |   | $ | 73,598 |   |

|                       | HUB GROUP,INC. |                                            |
|----------------------------|----------------|-------------------------------------------------|
|                       |           |                                            |   |
| Date:      October 24,2008 | By:            | /s/ Terri      A. Pizzuto                  |   |
|                       |           | Terri      A. Pizzuto                           |   |
|                       |           | Executive      Vice Preaisdent, Chief Financial |   |
|                       |           | Officer      and Treasurer                 |   |
|                       |           | (Principal      Financial Officer)         |   |

| 31.1 | Certification      of David P. Yeager, Vice Chairman and Chief Executive Officer, Pursuant to      Rule 13a-14(a) under the Securities Exchange Act of  1934. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 31.2 | Certification      of Terri A. Pizzuto, Executive Vice President, Chief Financial Officer and      Treasurer, Pursuant to Rule 13a-14(a) under the Securities Exchange Act of      1934. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.1 | Certification      of David P. Yeager and Terri A. Pizzuto, Chief Executive Officer and Chief      Financial Officer, respectively, Pursuant to 18 U.S.C. Section      1350. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|