Leaseway Auto Carrier Awarded Toyota Contract

12 May 1999
Leaseway Auto Carrier Awarded Toyota Contract
    READING, Pa., May 12 -- Penske Logistics and its Leaseway
Auto Carrier (LAC) have been selected by Toyota Motor Sales to provide
delivery of Tundra vehicles to dealerships.  Tundra is the new full-sized
pick-up truck that Toyota is introducing in mid-May.
    Toyota will produce the Tundra vehicles at a new plant in Princeton, IN.
This is the company's first V-8 powered entrant into America's hottest selling
vehicle segment.  Toyota also announced that it will build a new full-sized
sport utility vehicle for the 2001 model year.
    Bob Daly, Group Vice President for Toyota Logistics Services, noted,
"Leaseway and Penske have been partners with us since 1965.  We are pleased
with the level of service that Leaseway provides.  Therefore, the selection of
Leaseway to serve Princeton is a natural extension of their operating
network."
    Leaseway Auto Carrier provides truck away delivery for retail sale for
approximately 400 Toyota and Lexus dealerships throughout the east coast and
mid-west.  LAC has also been a recipient of the President's Logistics
Excellence Award from Toyota Motor Sales.  The criteria for the award are on
time performance, quality assurance and customer service.
    "We are pleased to have been awarded the Tundra business by Toyota.  We
are committed to providing the highest quality products and services to the
automotive industry, from raw materials to the end consumer," said Greg Humes,
President - Global Automotive Logistics of Penske Logistics.
    During January, Penske Logistics made a strategic decision to group all of
its automotive business under one operating unit.  Humes said, "Through this
increased focus, we achieve greater results for our clients and make it easier
for them to do business with us through centralized points of contact."
    As a part of its Six Sigma quality initiative, Penske Logistics and LAC
are standardizing processes to gain operational excellence.  As a result,  LAC
and certain Penske Logistics locations achieved ISO 9002 certification in June
1998.
    Leaseway Auto Carrier, a subsidiary of Penske Truck Leasing, provides
automotive carriage for most major auto manufacturers.  With annual revenues
of more than $2.5 billion, Penske Truck Leasing is one of the largest
providers of transportation services in North America, South America and
Europe.  The company operates more than 120,000 vehicles to serve customers
from approximately 650 locations.  Product lines are full service leasing,
contract maintenance and commercial and consumer truck rentals, and integrated
logistics services.  Penske Logistics Europe, a wholly owned subsidiary of
Penske Truck Leasing, provides pan-European logistics solutions.  Cotia Penske
Logistics Ltda., a joint venture between Penske Logistics and Cotia Trading,
provides supply chain management services in South America.