1342287--9/24/2010--General_Finance

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{cost, regulation, environmental}

{acquisition, growth, future}

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We operate with a significant amount of indebtedness, which is secured by all or substantially all of our assets, subject to variable interest rates and contain restrictive covenants. Subsequent to July 1, 2011, we may be required to satisfy Bison Capital s put option for Bison Capital s 13.8% interest in GFN U.S. Our overall financial results will be affected by the relative value of the Australian dollar and/or the New Zealand dollar to the U.S. dollar and may be affected by other currencies with future acquisitions. A write-off of all or a part of our goodwill and intangibles would hurt our operating results and reduce our stockholders equity. Future acquisitions of businesses could subject us to additional business, operating and industry risks, the impact of which cannot presently be evaluated, and could adversely impact our capital structure. While part of our long-term business strategy is to acquire additional businesses, there is no assurance that we will be able to identify businesses that we can acquire upon terms we believe acceptable, or if such acquisitions require additional financing, that we could obtain such additional financing. Our long-term growth could strain our management resources. Our long-term growth plan includes the expansion of operations into markets outside of the United States, Australia and New Zealand, including Asia/Pacific and European markets. Such international expansion may not prove successful, and may divert significant capital, resources and management s time and attention and adversely affect our on-going operations. To complete future business combinations, we may issue shares of our capital stock that would reduce the equity interest of our stockholders and could cause a change in control of our ownership, or incur debt, which could adversely affect our financial condition. The price of our common stock may fluctuate significantly, which may make it difficult for stockholders to resell common stock when they want or at a price they find attractive. If equity research analysts do not publish research or reports about our business or if they issue unfavorable commentary or downgrade our common stock, the price of our common stock could decline. We do not currently intend to pay dividends on our common stock, which may limit the return on your investment in us. Our outstanding options and warrants may have an adverse effect on the market price of common stock and increase the difficulty of effecting future business combinations. Sales of container units constitute a significant portion of Royal Wolf s revenues. Failure to continue to sell units at historic levels could adversely affect our financial results and our ability to grow. The failure of Royal Wolf to achieve its business strategy of increasing its leasing revenue could adversely affect the predictability of our quarterly earnings results and adversely affect our results of operations. General or localized economic downturns or weakness may adversely affect Royal Wolf s customers, in particular those in the mining and moving and storage industries, which may reduce demand for Royal Wolf s products and services which would negatively impact our future revenues and results of operations. Royal Wolf faces significant competition in the portable buildings industry and regional competition in the portable storage market. Royal Wolf also faces potentially significant competition from modular industry companies who have portable storage offerings, especially from several national competitors in Australia who have greater financial resources and pricing flexibility than Royal Wolf does. If Royal Wolf is unable to compete successfully in these industries, it could lose customers and our future revenues could decline. Our customers lease our storage container products on primarily a month-to-month basis, and our results of operations could be adversely affected by a downturn in economic activity. Failure to retain key personnel could adversely affect Royal Wolf s operations and could impede our ability to execute our business plan and growth strategy. Failure by container suppliers to deliver container products to Royal Wolf could adversely affect its operations. General or localized economic downturns or weakness may adversely affect Pac-Van s customers, in particular those in the construction industry, which may reduce demand for Pac-Van s products and services and negatively impact our future revenues and results of operations. Pac-Van faces significant competition in the modular buildings and portable storage industries. Pac-Van also faces potentially significant competition from modular buildings companies who have portable storage product offerings, especially from several national competitors in the United States who have greater financial resources and pricing flexibility than Pac-Van does. If Pac-Van is unable to compete successfully, it could lose customers and our future revenues could decline. Because Pac-Van has depended to a large extent on the success of its leasing operations, the failure of Pac-Van to effectively and quickly remarket lease units that are returned could materially and adversely affect our results of operations. Sales of modular buildings, mobile offices and storage units constitute a significant portion of Pac-Van s revenues and the failure to continue to sell units at historic rates could adversely affect our ability to grow Pac-Van s lease fleet. Governmental regulations could impose substantial costs and restrictions on Pac-Van s operations that could harm our future results of operations. Significant increases in raw material costs could increase our operating costs significantly and harm our future results of operations. Failure to retain key personnel could adversely affect Pac-Van s operations and could impede our ability to execute our business plan and growth strategy. Any failure of Pac-Van s management information systems could disrupt our business and result in decreased rental or sale revenues and increased overhead costs, which could negatively impact our results of operations. Failure by Pac-Van s manufacturers to sell and deliver products to Pac-Van in timely fashion may harm Pac-Van s reputation and our financial condition. Unionization by some or all of Pac-Van s employees could cause increases in operating costs. Some zoning laws restrict the use of Pac-Van s storage units and therefore limit its ability to offer its products in all markets.

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1342287--9/24/2010--General_Finance_CORP