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ED WHALEN

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(312) 928-0856

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(312) 928-0890

FOR IMMEDIATE RELEASE

October 18, 2004

Johnstown America delivering major order of aluminum auto carriers to Canadian Pacific

Johnstown, Pennsylvania, October 18, 2004 - Johnstown America Corporation today announced it is currently delivering 375 AVC™ bi-levels to Canadian Pacific Railway.

Bill Wiles, vice president, automotive for Johnstown America said, noting the advantages of the AVC, "We are making headway into the multilevel market with a car we believe adds real value to vehicle transportation. Auto shippers now benefit from rust-free, higher, wider interiors and superior door-edge protection. Mechanical employees also favor the easily operated doors that automatically lock open and closed."

The AVC is a significant advancement in railroad industry practice for auto transportation; it has a 50-year interchange life and operates transparently in the National Reload Pool.

"Rugged, yet 17% lighter than its steel counterpart, the AVC is designed for minimum out-of-service time, further reducing the cost of operation. A longer-term benefit is that through an AAR exemption, the aluminum superstructure never needs recertification," Wiles added.

For over a century Johnstown America Corporation has been a leading producer of railcars in North America. In addition to the AVC, JAC designs and builds aluminum coal cars (it is the world's leading producer), flat cars, mill gondola cars, boxcars, intermodal cars, and the new VersaCoil™ steel coil cars.

AVC™ Aluminum Bi-level Railcar
General Dimensions (Approximate)

Length, over strikers

90' 0"

Width, inside at side sheets

117 1/4"

Height, rail to top of "A" deck 3' 3-1/2"
Height, rail to top of "B" deck 10' 11"
Clearance, "A" deck Minimum 89"
Clearance, "B" deck Minimum 93-1/4".
Light weight 82,500 Lbs.

Canadian Pacific Railway has acquired 375 of Johnstown America's new AVC™ Aluminum Vehicle Carriers. The AVC has a 50-year interchange life, runs transparently in the National Reload Pool, and the superstructure never needs recertification.

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