<PAGE>



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

FOR IMMEDIATE RELEASE

             INTERPOOL, INC. REPORTS 3RD QUARTER RESULTS - INCOME
           PER SHARE OF $0.28 AS COMPARED WITH $0.31 FOR PRIOR YEAR

PRINCETON, NJ, NOVEMBER 4, 1997 -- Interpool, Inc. (NYSE: IPX) reported today
that its 1997 third quarter income per share, before extraordinary and
non-recurring charges, was 28 cents per share (on a primary basis), as
compared with 31 cents (on a fully diluted basis) for the same period in 1996.
Adjustments for full dilution had no impact on 1997 third quarter income per
share. Revenues during the third quarter of 1997 were $40,962,000, up 9% from
$37,482,000 in the third quarter of 1996.

Interpool, Inc.'s income per share before extraordinary and non-recurring
charges was 89 cents per share (on a primary basis) in the first nine months
of 1997 compared with 88 cents per share (on a fully diluted basis) for the
same period in 1996. Adjustments for full dilution had no material impact on
income per share in the first nine months of 1997. Revenues for the nine
months ended September 30, 1997 rose to $118,922,000, up 9% from $109,092,000
in the first nine months of 1996.

Martin Tuchman, Chairman and Chief Executive Officer, noted that during the
third quarter, the company took advantage of two significant opportunities to
facilitate future growth of its business which impacted earnings in the
quarter. First, as previously announced, Interpool issued $225 million of ten
year notes during the third quarter, comprised of $150 million of 7.35% Notes
due 2007 and $75 million of 7.20% Notes due 2007.

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Interpool  3Q97
11/4/97                                                         Page 2


These Notes represented Interpool's first issues of unsecured debt,
recognizing the company's growing credit strength. The net proceeds from those
offerings were used to repay secured indebtedness, to purchase equipment and
for other investments. However, until the funds were deployed, the resulting
excess of interest expense over interest income of approximately $530,000, net
of taxes, resulted in a reduction of income before extraordinary item of 2
cents per share for the third quarter.

Second, Mr. Tuchman pointed to the company's strategic focus in 1997 on
building its domestic intermodal equipment leasing business, with substantial
emphasis on chassis leasing and management. During the third quarter of 1997,
the company substantially increased its expenditures in the domestic
intermodal leasing division. This increase contributed to an increase in
chassis utilization to 94% in September 1997, from 92% in June 1997. However,
the increased expenditures, net of taxes, during the third quarter of 1997
over the prior year period resulted in a reduction in income before
extraordinary item of $1,100,000 or 4 cents per share. The company intends to
continue this increased level of expenditures through the fourth quarter of
1997.

Earlier this year, the company's wholly-owned subsidiary, Trac Lease, Inc.,
was awarded a contract by the Grand Alliance Chassis Pool to administer a
fleet of up to 42,000 marine shipping container chassis at over 30 pool
locations throughout the United States where the chassis are based. In
addition, Trac has recently been awarded the administration contract for
Virginia's port-wide cooperative steamship line chassis pool, where
approximately 12,000 chassis will be managed. Trac will now be managing
approximately 115,000 chassis, including Trac's approximately 61,000 units, of
which 2,000 were added during the third quarter, making Trac the largest
manager of chassis in the United States. Trac is also aggressively bidding on
other chassis management pool opportunities, taking advantage of its
proprietary computer software which permits daily reporting on the movement
and condition of chassis and assists steamship lines in maintaining efficient
inventory levels at chassis pools.



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Interpool  3Q97
11/4/97                                                         Page 3

Mr. Tuchman also noted that Interpool has continued to expand its container
fleet by adding approximately 20,000 container TEUs (twenty-foot-equivalent
units) during the third quarter, increasing the total container fleet to
approximately 360,000 container TEUs. At September 30, 1997, the utilization
rate of the combined container and chassis fleets rose to 98%.

The company conducts its international container leasing business through its
subsidiary Interpool Limited, while the domestic intermodal equipment leasing
business is conducted by Interpool, Inc. and its other subsidiaries. During
the third quarter of 1997, the Interpool Limited international container
division's contribution to consolidated income before extraordinary and
non-recurring items declined to $7,093,000 from $7,635,000 in 1996, while the
domestic intermodal division's contribution decreased to $831,000 from
$2,251,000. In addition to the two items mentioned above which impacted
earnings per share, the domestic intermodal division's third quarter
contribution was reduced by $1.1 million of interest expense, net of taxes,
attributable to the $75 million of 9 7/8% Capital Securities sold by the
company in January, 1997. Revenues for the third quarter of 1997 from the
Interpool Limited international container division increased to $21,575,000
from $20,237,000 in 1996, while revenues from the domestic intermodal division
rose to $19,387,000 from $17,245,000.

During the nine months ended September 30, 1997, the Interpool Limited
international container division's contribution to consolidated income before
extraordinary and non-recurring items rose to $22,190,000 from $21,470,000 in
1996, while the domestic intermodal division's contribution decreased to
$3,655,000 from $6,335,000. In addition to the two items mentioned above which
impacted earnings per share, the domestic intermodal division's nine month
contribution was reduced by $3.0 million of interest expense, net of taxes,
attributable to the Capital Securities sold by the company in January, 1997.
Revenues for the first nine months of 1997 from the Interpool Limited
international container division increased to $64,073,000 from $59,102,000 in
1996, while revenues from the domestic intermodal division rose to $54,849,000
from $49,990,000.


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Interpool  3Q97
11/4/97                                                         Page 4


Interpool, originally founded in 1968, is one of the world's leading lessors
of intermodal dry cargo containers 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.

This Press Release contains certain forward-looking statements regarding
future circumstances. These forward-looking statements are subject to risks
and uncertainties that could cause actual results to differ materially from
those contemplated in such forward-looking statements, including in particular
the risks and uncertainties described in the company's SEC filings. The
company undertakes no obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after the date
hereof.
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                                INTERPOOL, INC.
                       CONSOLIDATED STATEMENTS OF INCOME
                   (In thousands, except amounts per share)
                                  (Unaudited)
<TABLE>
<CAPTION>

                                                            THREE MONTHS ENDED               NINE MONTHS ENDED
                                                               SEPTEMBER 30,                   SEPTEMBER 30,
                                                           1997            1996             1997            1996
                                                        ---------        ---------        ---------        ---------
<S>      <C>                                            <C>              <C>              <C>              <C>
REVENUES (1) .......................................    $  40,962        $  37,482        $ 118,922        $ 109,092


LEASE OPERATING AND ADMINISTRATIVE EXPENSES ........       10,292            7,866           27,987           22,385
DEPRECIATION AND AMORTIZATION OF
 LEASING EQUIPMENT .................................        8,933            8,084           26,155           24,069
GAIN  ON  SALE OF LEASING EQUIPMENT ................          (17)             (49)            (773)            (493)
                                                        ---------        ---------        ---------        ---------
EARNINGS BEFORE INTEREST AND TAXES .................       21,754           21,581           65,553           63,131
INTEREST EXPENSE , NET .............................       13,280            9,745           36,008           29,826
                                                        ---------        ---------        ---------        ---------
INCOME BEFORE TAXES, EXTRAORDINARY LOSS ............        8,474           11,836           29,545           33,305
  AND NON-RECURRING CHARGE
PROVISION FOR INCOME TAXES .........................          550            1,950            3,700            5,500
INCOME BEFORE EXTRAORDINARY LOSS ...................         --               --               --               --
 AND NON-RECURRING CHARGE ..........................        7,924            9,886           25,845           27,805
EXTRAORDINARY LOSS ON RETIREMENT OF DEBT,
NET OF APPLICABLE TAXES OF $2,150 and $2,375 (2) ...        4,550            4,878
NON-RECURRING CHARGE - ACQUISITION OF
  PREFERRED STOCK OF SUBSIDIARY (3) ................         --              2,392
                                                        ---------        ---------        ---------        ---------
NET INCOME .........................................    $   3,374        $   9,886        $  20,967        $  25,413
                                                        =========        =========        =========        =========
INCOME PER SHARE BEFORE EXTRAORDINARY
 LOSS AND PREMIUM PAID ON REDEMPTION OF
 PREFERRED STOCK IN 1997:
   PRIMARY .........................................    $    0.28        $    0.33        $    0.89        $    0.92
   FULLY DILUTED ...................................           NA        $    0.31               NA        $    0.88
EXTRAORDINARY LOSS ON RETIREMENT OF DEBT:
   PRIMARY .........................................    ($   0.16)              NA        ($   0.17)              NA
   FULLY DILUTED ...................................           NA               NA               NA               NA
PREMIUM PAID ON REDEMPTION OF PREFERRED STOCK: (4)
   PRIMARY .........................................           NA               NA        ($   0.24)              NA
   FULLY DILUTED ...................................           NA               NA               NA               NA
NET INCOME PER SHARE :
   PRIMARY .........................................    $    0.12        $    0.33        $    0.48        $    0.92
   FULLY DILUTED ...................................           NA        $    0.31               NA        $    0.88
WEIGHTED AVERAGE SHARES OUTSTANDING:
   PRIMARY .........................................       28,626           26,773           28,187           26,569
   FULLY DILUTED ...................................           NA           31,750               NA           31,504
</TABLE>

(1)  Revenue in the nine months ended September 30,1997 includes $1.5 million
     of successful legal claim recovery during the second quarter.

(2)  The extraordinary loss in the third quarter resulted from the retirement
     of secured debt using proceeds from the issuance of ten year unsecured
     notes during the third quarter.

(3)  Represents a non-cash and non-recurring charge for accumulated dividends
     of its subsidiary, Trac Lease, Inc., which resulted from the acquisition
     of the outstanding preferred stock of Trac Lease, Inc. through the
     issuance of Interpool, Inc. preferred stock. Such charge had no impact on
     net income per share because unpaid dividends were included in the
     computation of net income per share in periods prior to the acquisition.

(4)  Represents a special non-recurring charge of $6,716 to retained earnings
     for the redemption of 5 3/4 % Convertible Preferred Stock expressed as
     amount per share.