Pacer International, Inc. Announces Initial Public Offering of 14,000,000 Shares of Common Stock

CONCORD, Calif.--(BUSINESS WIRE)--June 13, 2002--Pacer International, Inc. (Nasdaq: PACR) announced today that its initial public offering of 14,000,000 shares of common stock was priced at $15.00 per share. Of the shares offered, 9,250,000 are being sold by the Company and 4,750,000 are being sold by certain institutional stockholders of the Company. The net proceeds to the Company of the offering will be used to repay outstanding borrowings under its bank credit facility.

The offering was lead-managed by Credit Suisse First Boston Corporation and Bear, Stearns & Co. Inc. and co-managed by Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., UBS Warburg LLC and BB&T Capital Markets, a division of Scott & Stringfellow, Inc. The selling stockholders have granted the underwriters a 30-day option to purchase up to 2,100,000 additional shares of common stock for the sole purpose of covering over-allotments, if any.

The public offering is being made by means of a prospectus. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. A copy of the final prospectus relating to these securities may be obtained by writing to, or telephoning:

Credit Suisse First Boston Corporation     Bear, Stearns & Co. Inc.   
       Eleven Madison Avenue                  383 Madison Avenue
        New York, NY 10010                    New York, NY 10179
         (212) 325-2000                         (212) 272-2000

Pacer International, a leading North American non-asset based logistics provider, offers logistics and other services to facilitate the movement of freight from origin to destination. Its services include retail intermodal marketing, trucking, freight consolidation and handling, international freight forwarding, and supply-chain management services, and wholesale stacktrain services (two-tiered rail transportation for containerized shipments). Pacer International is headquartered in Concord, California. Its business units, Pacer Stacktrain and Pacer Global Logistics, are headquartered in Concord, California and in Dublin, Ohio, respectively.

Note: Key words: IPO, finance, logistics, transportation, business, California, Ohio.

Note: issued by Steve Potash & Company, sjpotash@potashco.com.