The Cronos Group Announces Record Date for Payment of Liquidating Distribution

  
    
  
  
    
      The Cronos Group (Nasdaq:CRNS) notified Nasdaq on this date that it has 
      set the record date for the determination of those shareholders of 
      Cronos entitled to its anticipated liquidating distribution of $16.00 
      per share to be August 1, 2007. On that date, Cronos’ 
      shareholders will consider approval of the Asset Purchase Agreement by 
      and among Cronos and CRX Acquisition Ltd. (“CRX”) 
      and FB Transportation Capital LLC. If the Asset Purchase Agreement is 
      approved by Cronos’ shareholders, and all 
      other conditions to closing of the sale of Cronos’ 
      assets to CRX are satisfied, then Cronos anticipates a closing promptly 
      after the meeting of shareholders on August 1. The shareholders of 
      Cronos entitled to receive the anticipated liquidating distribution of 
      $16.00 per share will be those shareholders of record as of the close of 
      business on the date of closing of the assets sale to CRX.
    
    
      Promptly after the conclusion of the special shareholders meeting, 
      Cronos will announce the results of the vote and the closing of the 
      assets sale if it occurs on that date. Registered shareholders will 
      receive a transmittal form and instructions from Cronos’ 
      paying agent, Computershare Inc., promptly after closing of the assets 
      sale. Shareholders who hold their common shares of Cronos in “street 
      name” will receive payment of the liquidating 
      distribution from their broker.
    
    
      Cronos has also requested that Nasdaq suspend trading in Cronos’ 
      outstanding common shares, effective the close of business on August 1, 
      2007 in the event that the closing of Cronos’ 
      sale of its assets to CRX occurs on that date.
    
    
      Participants In The Transaction
    
    
      Cronos and its directors and executive officers may be considered 
      participants in the solicitation of proxies from Cronos’ 
      shareholders in connection with the proposed transaction. Information 
      about the directors and executive officers of Cronos, and their 
      ownership of Cronos’ common shares, is set 
      forth in the definitive proxy statement for the August 1, 2007 special 
      meetings of shareholders, dated June 22, 2007.
    
    
      Further Information
    
    
      Cronos has filed a proxy statement and Schedule 13E-3 transaction 
      statement with the SEC containing detailed information about the 
      proposed assets sale and other elements of its plan for its liquidation 
      and dissolution following the assets sale. Shareholders may obtain a 
      free copy of the definitive proxy statement and other documents filed by 
      Cronos with the SEC, including the Schedule 13E-3, at the SEC’s 
      website at www.sec.gov, or by directing 
      a request to Cronos as specified below.
    
    
      About Cronos
    
    
      Cronos (www.cronos.com) is one of 
      the world’s leading lessors of intermodal 
      containers, owning and managing a fleet of over 440,000 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.