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                      XTRA: Dividend Increased

FOR IMMEDIATE RELEASE                    For Information Contact:
     January 29, 1998                    XTRA Corporation
                                         Boston, MA
                                         Michael J. Soja
                                         Vice President and
                                         Chief Financial Officer
                                         Tel: (617) 367-7810


                             PRESS RELEASE

     XTRA Corporation today announced that its Board of Directors voted to
raise the quarterly cash dividend by 10% from $.20 per share to $.22 per share
and declared a quarterly cash dividend of $.22 per share, payable on February
27, 1998, to stockholders of record on February 13, 1998.

     Robert B. Goergen, Chairman of the Board, noted, "The increase in the
dividend reflects the Company's confidence about the future and our continuing
commitment to improving shareholder value.  XTRA's plan for continued
improvement of shareholder value includes three key elements: continued growth
of our existing business, external growth opportunities, and timely stock
repurchases."

     XTRA (NYSE: XTR) leases, primarily on an operating basis, over-the-road
trailers, marine containers, and intermodal equipment, including intermodal
trailers, chassis, and domestic containers.

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