CAI International, Inc. is a container leasing and management company operating through two segments: container leasing and container management. The Company purchases new containers, leases them to container shipping lines and either retains them as part of its owned fleet or sells them to container investors for whom it then provides management services. In operating its fleet, CAI International leases, re-leases and disposes of containers and contracts for the repair, repositioning and storage of containers. As of December 31, 2007, the Company's fleet comprised 754,000 trailer equivalent units (TEUs), 66.3%, of which represented managed fleet and 33.7% of which represented owned fleet.