HAMILTON, Bermuda–(EMWNews)–Textainer Group Holdings Limited (NYSE:TGH) (“Textainer”),

the world’s largest lessor of intermodal

containers based on fleet size, today reported results for the second

quarter ended June 30, 2008.

Total revenues for the quarter increased by $8.9 million, or 15%, to

$69.6 million compared to $60.7 million in the prior year quarter

primarily due to a $6.3 million, or 158%, increase in trading container

sales proceeds to $10.4 million compared to $4.0 million in the prior

year quarter. EBITDA(1) for the quarter increased by $11.9 million, or

34%, to $47.3 million compared to $35.4 million in the prior year

quarter.

Net income excluding unrealized (gains) losses on interest rate swaps,

net(1) for the quarter was $24.5 million, a 53% increase over the $16.0

million earned in the prior year quarter. Net income per diluted common

share excluding unrealized (gains) losses on interest rate swaps, net(1)

for the quarter was $0.51 per share, a 24% increase over the $0.41 per

share in the prior year quarter. Net income for the quarter was $30.4

million, an 83.2% increase over the prior year quarter. Textainer’s

net income per diluted common share increased by $0.21 per share, or

49%, to $0.64 per share for the second quarter of 2008 from $0.43 per

share in the prior year quarter.

There were three significant items that impacted income before income

tax and minority interest expense during the second quarter of 2008.

First, Textainer recognized a gain on lost U.S. military containers, net

of $1.7 million for 4,368 owned and 495 subleased containers that were

on lease to them and unaccounted for. Second, income tax expense

decreased by $1.5 million compared to the prior year quarter primarily

due to a re-measurement of our income tax reserves following the

conclusion of an audit by the U.S. Internal Revenue Service. Finally,

the resolution of a dispute with a container manufacturer resulted in

the reversal of a $0.8 million reserve and an additional gain of $0.3

million as part of the resolution.

“I am very pleased with our second quarter

2008 results. Overall demand for our containers through June remained

strong. Textainer’s utilization increased by

over 1% to around 94% from the first quarter of 2008 to the second

quarter of 2008,” commented John A. Maccarone,

President and CEO of Textainer.

He continued, “Our container resale segment

had another great quarter. Second quarter resale income before taxes of

$3.7 million, which represents an increase of $1.8 million, or 101%,

over the prior year quarter’s results of $1.9

million was primarily due to an increase in the number of trading

containers we were able to source and sell.”

As previously announced, in April 2008, Textainer Limited (“TL”),

which is a wholly-owned subsidiary of Textainer, entered into a $205

million, five-year revolving credit agreement with a group of financial

institutions. Also, as previously announced, in July, Textainer Marine

Containers Limited (“TMCL”),

Textainer’s primary asset owning subsidiary,

extended and increased the size of its secured debt facility. The

secured debt facility was extended over an initial two-year revolving

period, and the total commitment under the secured debt facility was

increased from $300 million to $475 million.

Mr. Maccarone added, “We are extremely

pleased to have been able to increase the size and the term of TL’s

revolver and to extend and increase the size of TMCL’s

securitization facility. Given the current challenging conditions in the

credit markets in general, and the asset-backed market in particular, we

believe that the success of this transition demonstrates the

participating banks’ strong confidence and

commitment to Textainer.”

“The successful completion of both of these

transactions strengthens our liquidity position. Together, we believe

these facilities will help to ensure that we have access to the

financing necessary to position Textainer for future growth.”

Outlook

We believe that the drivers of our strong performance during the first

half of 2008 remain in place. Strong demand for both our new production

and in-fleet containers is the result of several factors, including,

among other things:

• new vessels entering service;

• lower shipping line profits due to higher operating expenses,

  especially fuel;

• the “credit crunch,”

  which is making it more difficult to borrow, and causing higher

  spreads; and

• higher prices for new containers.

Our customers have become more dependent on leasing than they were in

the past three years. Shipping lines are also keeping their own and

leased containers in their respective fleets longer. This has created a

shortage of older containers in the secondary market, and has kept

prices strong. We do not see any signs that these drivers will

materially change in the next few months.

In the first half of 2008, Textainer originated over 164,000 twenty-foot

equivalent units (“TEU”)

of owned and managed long-term leases and 18,600 TEU of direct financing

and sales-type leases. New owned and managed standard dry freight

containers ordered for delivery through August 2008 totaled 104,450 TEU

at a cost of $229 million. In addition, 2,750 owned and managed 40’

High Cube refrigerated containers costing $48 million were ordered for

delivery through September 2008.

In July 2008, Textainer also entered into a purchase leaseback

transaction with a major international shipping line for 8,500

containers valued at $12.3 million.

Textainer expects that secondary prices for containers will remain

attractive. However, given the decline in the availability of trading

containers and the likelihood that containers purchased under purchase

leaseback transactions are likely to stay on-lease in the near future,

the profitability of Textainer’s Resale

Division is unlikely to continue at the same pace as during the first

half of 2008.

Dividend

On August 1, 2008, Textainer’s board of

directors approved and declared a quarterly cash dividend of $0.23 per

share on Textainer’s issued and outstanding

common shares, payable on August 22, 2008 to shareholders of record as

of August 15, 2008. This represents an increase of $0.01 per share, or

5%, from the first quarter 2008 cash dividend of $0.22 per share.

Investors’ Webcast

Textainer will hold a conference call and a Webcast at 2:00 p.m. EDT on

Wednesday August 6, 2008 to discuss Textainer’s

second quarter 2008 results. An archive of the Webcast will be available

one hour after the live call through August 6, 2009. The dial-in number

for the conference call is 1-877-440-5803; outside the U.S. call

1-719-325-4927. To access the live Webcast or archive, please visit

Textainer’s website at http://www.textainer.com.

About Textainer Group Holdings Limited

Textainer has operated since 1979 and is the world’s

largest lessor of intermodal containers based on fleet size. We have a

total of more than 1.3 million containers, representing over 2,000,000

TEU, in our owned and managed fleet. We lease containers to more than

400 shipping lines and other lessees. We principally lease dry freight

containers, which are by far the most common of the three principal

types of intermodal containers, although we also lease specialized and

refrigerated containers. We have also been one of the largest purchasers

of new containers among container lessors over the last 10 years. We

believe we are also one of the largest sellers of used containers,

having sold an average of more than 53,000 containers per year for the

last five years. We provide our services worldwide via a network of 14

regional and area offices and over 350 independent depots in more than

130 locations.

Important Cautionary Information Regarding Forward-Looking Statements

This press release contains forward-looking statements within the

meaning of U.S. securities laws. Forward-looking statements include

statements that are not statements of historical facts and include,

without limitation, statements regarding (i) Textainer’s

belief that the drivers of Textainer’s strong

performance during the first half of 2008 remain in place and will not

materially change in the next few months; (ii) Textainer’s

expectation that both its customers’ growing

dependency on leasing and shipping lines’

keeping their own and leased containers in their fleet longer will not

change in the next few months; (iii) Textainer’s

expectation that secondary prices for containers will remain attractive;

and (iv) Textainer’s expectations that the

profitability of its Resale Division is unlikely to continue at the same

pace as during the first half of 2008. Readers are cautioned that these

forward-looking statements involve risks and uncertainties, are only

predictions and may differ materially from actual future events or

results. These risks and uncertainties include, without limitation, that

gains and losses associated with the disposition of equipment may

fluctuate; Textainer’s ability to finance

continued purchase of containers; the demand for leased containers

depends on many political and economic factors beyond Textainer’s

control; lease and freight rates may decline; the demand for leased

containers is partially tied to international trade; Textainer faces

extensive competition in the container leasing industry; the

international nature of the container shipping industry exposes

Textainer to numerous risks; and other risks and uncertainties,

including those set forth in Textainer’s

filings with the Securities and Exchange Commission. For a discussion of

some of these risks and uncertainties, see Item 4 “Risk

Factors ” in Textainer’s

Quarterly Report on Form 6-K for the three months ended March 31, 2008,

filed with the Securities and Exchange Commission on May 14, 2008.

Textainer’s views, estimates, plans and

outlook as described within this document may change subsequent to the

release of this press release. Textainer is under no obligation to

modify or update any or all of the statements it has made herein despite

any subsequent changes Textainer may make in its views, estimates, plans

or outlook for the future.

TEXTAINER GROUP HOLDINGS LIMITED AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
June 30, 2008 and December 31, 2007
(Unaudited)
(All currency expressed in United States dollars in thousands)
						June 30,				December 31,
						2008				2007
Assets
Current assets:
	Cash and cash equivalents					$	64,250			$	69,447
	Accounts receivable, net of allowance for doubtful accounts of $3,811 and $3,160 in 2008 and 2007, respectively						48,558				44,688
	Net investment in direct financing and sales-type leases						13,103				9,116
	Containers held for resale						3,030				3,798
	Prepaid expenses and other current assets						2,929				2,527
	Deferred taxes						352				352
	Due from affiliates, net						28				9
		Total current assets					132,250				129,937
Restricted cash							15,971				16,742
Containers, net of accumulated depreciation of $330,589 and $322,845 in 2008 and 2007, respectively							929,268				856,874
Net investment in direct financing and sales-type leases							59,218				48,075
Fixed assets, net of accumulated depreciation of $8,021 and $7,795 in 2008 and 2007, respectively							1,323				1,230
Intangible assets, net of accumulated amortization of $8,607 and $4,700 in 2008 and 2007, respectively							68,845				72,646
Interest rate swaps							1,678				127
Other assets							3,099				2,715
		Total assets				$	1,211,652			$	1,128,346
Liabilities and Shareholders’ Equity
Current liabilities:
	Accounts payable					$	5,272			$	4,612
	Accrued expenses						7,285				11,115
	Container contracts payable						51,027				28,397
	Due to owners, net						12,615				18,019
	Secured debt facility						–				6,585
	Bonds payable						58,000				58,000
		Total current liabilities					134,199				126,728
Revolving credit facilities							27,500				21,500
Secured debt facility							186,537				124,391
Bonds payable							342,091				370,938
Interest rate swaps							5,054				4,409
Long-term income tax payable							16,794				15,733
Deferred taxes							10,818				10,814
		Total liabilities					722,993				674,513
Minority interest							55,843				49,717
Shareholders’ equity:
	Common shares, $0.01 par value. Authorized 140,000,000 shares; issued and outstanding 47,604,640 at 2008 and 2007						476				476
	Additional paid-in capital						165,132				163,753
	Notes receivable from shareholders						(321	)			(432	)
	Accumulated other comprehensive income						504				579
	Retained earnings						267,025				239,740
		Total shareholders’ equity					432,816				404,116
		Total liabilities and shareholders’ equity				$	1,211,652			$	1,128,346

TEXTAINER GROUP HOLDINGS LIMITED AND SUBSIDIARIES
Condensed Consolidated Statements of Income
Three and six months ended June 30, 2008 and 2007
(Unaudited)
(All currency expressed in United States dollars in thousands, except per share amounts)
					Three months ended June 30,								Six months ended June 30,
					2008				2007				2008				2007
Revenues:
	Lease rental income				$	48,568			$	49,199			$	96,102			$	96,649
	Management fees					6,959				4,766				14,409				10,141
	Trading container sales proceeds					10,369				4,026				24,083				7,162
	Gains on sale of containers, net					3,711				2,589				7,248				5,611
	Other, net

Textainer Group Holdings Limited Mr. Tom Gallo, 415-658-8227 Corporate Compliance Officer [email protected]