2008-08-09 00:30:04 -

- Coughlin Stoia Geller Rudman & Robbins LLP ("Coughlin Stoia") ( www.csgrr.com/cases/reddyice/) today announced that a class action has been commenced in the United States District Court for the Eastern District of Michigan on behalf of purchasers of Reddy Ice Holdings, Inc. ("Reddy Ice" or the "Company") (NYSE:FRZ) common stock during the period between August 10, 2005 and March 6, 2008 (the "Class Period").

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Samuel H. Rudman or David A. Rosenfeld of Coughlin Stoia at 800/449-4900

or 619/231-1058, or via e-mail at djr@csgrr.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at www.csgrr.com/cases/reddyice/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges Reddy Ice and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Reddy Ice is the largest manufacturer and distributor of packaged ice in the United States.

The complaint alleges that during the Class Period, defendants issued a series of materially false and misleading statements concerning the Company's financial performance and prospects. According to the complaint, from at least 2002 to the present, defendants engaged in a continuing agreement, understanding and conspiracy in restraint of trade to artificially raise, fix, maintain or stabilize prices for packaged ice in the United States in violation of Section 1 of the Sherman Act, 15 U.S.C. Section 1. Moreover, defendants divided up the packaged ice market so that they would not compete with other packaged ice makers, such as Arctic Glacier International, Inc. and Home City Ice Co. Specifically, the complaint alleges that Reddy Ice failed to disclose that: (a) the Company was recognizing significant amounts of revenues derived from illegal activities in violation of the U.S. antitrust laws; and (b) as a result, the Company's financial statements were not a fair presentation of Reddy Ice's results and were presented in violation of U.S. Generally Accepted Accounting Principles and U.S. Securities and Exchange Commission rules.

On March 6, 2008, after the markets closed, Reddy Ice issued a press release announcing that "federal officials executed a search warrant at the Company's corporate office in Dallas on March 5, 2008." Upon this news, on the next trading day, shares of the Company's stock fell $7.73 per share, or 33%, to close at $15.38 per share, on heavy trading volume.

Plaintiff seeks to recover damages on behalf of all purchasers of Reddy Ice common stock during the Class Period (the "Class"). The plaintiff is represented by Coughlin Stoia, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Coughlin Stoia, a 190-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Coughlin Stoia Web site ( www.csgrr.com) has more information about the firm.

Coughlin Stoia Geller Rudman & Robbins LLP
Samuel H. Rudman, 800-449-4900
or
David A. Rosenfeld, djr@csgrr.com