<B>National Pallet Being Acquired</B>

IFCO Systems N.V. entered into an agreement to acquire the businesses of Texas Pallet and related companies that conduct business under the name ``National Pallet.''

Texas Pallet is the second largest pallet recycling and services business in the United States behind IFCO Systems. Texas Pallet is headquartered in Houston, and has operations in 11 facilities in Texas, Oklahoma, Mississippi, Louisiana, Tennessee, Alabama, and Ohio.

Martin Schoeller, IFCO Systems' CEO, states: ``We are very enthusiastic about the acquisition of Texas Pallet. This acquisition emphasizes our focus on expanding our systems and services businesses. It also significantly increases the density of our pallet systems and services coverage, provides opportunities for significant costs savings through synergies in our Southwest region following the integration of Texas Pallet, and expands our operations into several key market areas for pallet and round-trip container systems and services. We are adding to our group of companies one of the fastest growing pallet systems and services businesses in North America. With the addition of Texas Pallet's management team, we are strengthening the depth of our systems and services management with several of the most respected managers in the industry.''

IFCO's bank lenders have already approved the Texas Pallet acquisition, which is expected to be completed near the end of this month.