CRNS Cronos Grp. S A (MM)

The Cronos Group (Nasdaq:CRNS) is pleased to announce the appointment of John Keir as its exclusive agent for Russia, the Commonwealth of Independent States and the Baltic states. Mr. Keir brings to Cronos over 20 years of experience in this region, previously representing Sea Containers and GE SeaCo since 1986. The appointment of Mr. Keir will facilitate the company's expansion into emerging markets, strengthen its presence in the region, and enable Cronos to capitalize on expanding business opportunities with a more diversified customer base. Mr. Keir and other representatives from Cronos will be present at next week's TransRussia Exhibition and Conference, which will be held in Moscow from March 20 through March 23, 2006. The Exhibition is the leading forum for shipping line and freight transportation companies in the region. This will be the first time that Cronos has participated in the TransRussia Exhibition and Conference, and its exhibit will be located at Stand C16. Peter J. Younger, President and Chief Operating Officer of The Cronos Group, said, "We are extremely pleased to announce our new relationship with John Keir who brings years of experience and expertise to our company with respect to Russia and the surrounding areas. John's new association with the company, combined with our presence at next week's TransRussia Exhibition, signals our intention to become a leading force in this region. We are very pleased that John has partnered with Cronos, and we look forward to working with him and our new customers in this region for years to come." Cronos is one of the world's leading lessors of intermodal containers, owning and managing a fleet of over 446,000 TEU (twenty-foot equivalent units). The diversified Cronos fleet of dry cargo, refrigerated and other specialized containers is leased to a customer base of over 450 ocean carriers and transport operators around the world. Cronos provides container-leasing services through an integrated network of offices using state-of-the-art information technology. This release discusses certain forward-looking matters that involve risks and uncertainties that could cause actual results to vary materially from estimates. Risks and uncertainties include, among other things, changes in international operations, exchange rate risks, changes in market conditions for the Company's container lease operations and the Company's ability to provide innovative and cost-effective solutions. For further discussion of the risk factors attendant to an investment in the Company's Common shares, see the Business section in Part I of the Company's Annual Report on Form 10-K for the year ended December 31, 2004, which was filed with the SEC on March 22, 2005. This press release and other information concerning Cronos can be viewed on Cronos' website at www.cronos.com