Exhibit 99.2

Guarantor/Non Guarantor

     On May 11, 2005, $175 million of Senior Notes due 2015 were issued by The Greenbrier Companies (Parent). The Senior Notes are fully and unconditionally and jointly and severally guaranteed by certain of Greenbrier’s wholly owned subsidiaries: Autostack Corporation, Greenbrier-Concarril, LLC, Greenbrier Leasing Corporation, Greenbrier Leasing Limited Partner, LLC, Greenbrier Management Services, LLC, Greenbrier Leasing, L.P., Greenbrier Railcar, Inc., Gunderson, Inc., Gunderson Marine, Inc., Gunderson Rail Services, Inc., and Gunderson Specialty Products, LLC. No other subsidiaries guarantee the Senior Notes.

     The following financial information presents condensed consolidated balance sheets, statements of operations and statements of cash flows for The Greenbrier Companies, its guarantor subsidiaries and non guarantor subsidiaries. The information is presented on the basis of Greenbrier accounting for its ownership of its wholly owned subsidiaries using the equity method of accounting. Intercompany transactions of goods and services between the guarantor and non guarantor subsidiaries are presented as if the sales or transfers were to third parties. The following represents the supplemental consolidated condensed financial information of The Greenbrier Companies, the issuer of the Senior Notes, and its guarantor and non guarantor subsidiaries, as of May 31, 2005 and for the nine months ended May 31, 2005.

The Greenbrier Companies, Inc.
          Condensed Consolidated Balance Sheet
          May 31, 2005
          (In thousands, Unaudited)

				Combined			Combined Non-
				Guarantor			Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	49,937		$	14,683		$	2,668		$	—		$	67,288
Restricted cash and investments		—			—			499			—			499
Accounts and notes receivable		35,025			69,034			20,669			407			125,135
Inventories		—			122,575			57,629			(746	)		179,458
Investment in direct finance leases		—			13,395			—			—			13,395
Equipment on operating leases		—			175,431			—			(1,965	)		173,466
Property, plant and equipment		13			50,717			18,992			—			69,722
Other		260,156			23,960			3,242			(261,428	)		25,930
	$	345,131		$	469,795		$	103,699		$	(263,732	)	$	654,893
LIABILITIES AND STOCKHOLDERS’ EQUITY
Revolving notes		—		$	—		$	16,443		$	—		$	16,443
Accounts payable and accrued liabilities		(9,841	)		150,721			52,907			407			194,194
Participation		—			21,447			—			—			21,447
Deferred income taxes		5,974			31,916			(10,768	)		(459	)		26,663
Deferred revenue		1,435			1,237			1,210			—			3,882
Notes payable		183,343			18,643			13,753			—			215,739
Subordinated debt		—			9,785			—			—			9,785
Subsidiary shares subject to mandatory redemption		—			(129	)		—			3,875			3,746
STOCKHOLDERS’ EQUITY		164,220			236,175			30,154			(267,555	)		162,994
	$	345,131		$	469,795		$	103,699		$	(263,732	)	$	654,893

The Greenbrier Companies, Inc.
          Condensed Consolidated Statement of Operations
          For the nine months ended May 31, 2005
          (In thousands, unaudited)

				Combined			Combined Non-
				Guarantor			Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Revenue
Manufacturing	$	62,065		$	391,855		$	258,417		$	(12,042	)	$	700,295
Leasing and services		416			57,943			—			342			58,701
Total revenues		62,481			449,798			258,417			(11,700	)		758,996
Cost of revenue
Manufacturing		57,686			352,736			243,029			(11,302	)		642,149
Leasing and services		—			30,564			—			(52	)		30,512
		57,686			383,300			243,029			(11,354	)		672,661
Margin		4,795			66,498			15,388			(346	)		86,335
Other costs
Selling and administrative expense		10,635			23,597			7,160			—			41,392
Interest expense and foreign exchange		3,307			3,667			2,681			(16	)		9,639
Special charges		—			2,913			—			—			2,913
		13,942			30,177			9,841			(16	)		53,944
Earnings (loss) before income taxes, minority interest and equity in earnings (loss) of unconsolidated subsidiaries		(9,147	)		36,321			5,547			(330	)		32,391
Income tax expense		3,689			(15,304	)		(1,356	)		138			(12,833	)
		(5,458	)		21,017			4,191			(192	)		19,558
Minority interest		—			(6	)		—			6			—
Equity in earnings (loss) of unconsolidated subsidiaries		24,695			327			—			(25,344	)		(322	)
Net earnings	$	19,237		$	21,338		$	4,191		$	(25,530	)	$	19,236

The Greenbrier Companies, Inc.
        Condensed Consolidated Statement of Cash Flows
        For the nine months ended May 31, 2005
        (In thousands, unaudited)

				Combined			Combined Non-
				Guarantor			Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net earnings	$	19,237		$	21,338		$	4,191		$	(25,530	)	$	19,236
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Earnings from discontinued operations		—			—			—			—			—
Deferred income taxes		2,176			(198	)		(1,161	)		(138	)		679
Depreciation and amortization		57			14,184			2,653			(54	)		16,840
Gain on sales of equipment		—			(3,942	)		—			(358	)		(4,300	)
Special charges		—			—			—			—			—
Other		—			200			303			(4	)		499
Decrease (increase) in assets:								—			—			—
Accounts and notes receivable		(103,192	)		61,541			7,219			(103	)		(34,535	)
Inventories		—			(17,749	)		(2,580	)		740			(19,589	)
Other		(29,824	)		(3,255	)		(893	)		25,344			(8,628	)
Increase (decrease) in liabilities:											—			—
Accounts payable and accrued liabilities		(14,968	)		27,562			(12,702	)		103			(5	)
Participation		—			(15,660	)		—			—			(15,660	)
Deferred revenue		1,435			(1,312	)		1,025			—			1,148
Net cash provided by (used in) operating activities		(125,079	)		82,709			(1,945	)		—			(44,315	)
Cash flows from investing activities:
Principal payments received under direct finance leases		—			4,524			—			—			4,524
Proceeds from sales of equipment		—			23,125			—			—			23,125
Investment in and advances to unconsolidated subsidiaries		—			(49	)		—			—			(49	)
Decrease (increase) in restricted cash		—			—			624			—			624
Acquisition of joint venture interest		—			8,435									8,435
Capital expenditures		—			(47,129	)		(2,349	)		—			(49,478	)
Net cash used in investing activities		—			(11,094	)		(1,725	)		—			(12,819	)
Cash flows from financing activities:
Changes in revolving notes		—			—			6,541			—			6,541
Proceeds from notes payable		175,000			—			—			—			175,000
Repayments of notes payable		(780	)		(64,880	)		(674	)		—			(66,334	)
Repayments of subordinated debt		—			(5,157	)		—			—			(5,157	)
Dividends		(2,692	)		—			—			—			(2,692	)
Net proceeds from equity offering		127,466			—									127,466
Re-purchase and retirement stock		(127,538	)		—									(127,538	)
Proceeds from exercise of stock options		3,668			—			—			—			3,668
Net cash provided by (used in) financing activities		175,124			(70,037	)		5,867			—			110,954
Effect of exchange rate		(108	)		2,651			(1,185	)					1,358
Increase in cash and cash equivalents		49,937			4,229			1,012			—			55,178
Cash and cash equivalents
Beginning of period		—			10,454			1,656			—			12,110
End of period	$	49,937		$	14,683		$	2,668		$	—		$	67,288