Penske Logistics Honored by General Motors as a 2003 Supplier of the Year

READING, Pa. (April 8, 2004) Vincent Hartnett, president, Penske Logistics, accepted the 2003 Supplier of the Year award from General Motors on April 3, 2004 during ceremonies at the Hilton Prague Hotel in Prague, Czech Republic. The prestigious award is given annually to GM's best global suppliers in recognition of their superior performance during the previous calendar year.

"Penske Logistics is representative of the type of company we want to grow with as we drive to be the best worldwide," said Bo Andersson, vice president, GM Worldwide Purchasing Production Control & Logistics. "Penske has a balanced focus on performance and behavior that supports GM's priorities and serves as a role model for all of our suppliers."

"Having the opportunity to accept this recognition as one of GM's most valued suppliers a third time is a great honor," said Hartnett. "This award is a tribute to all of the members of the Penske Logistics Team serving GM for their commitment to continually improving the systems and quality processes we execute to add value to GM's supply chain network."

The GM Supplier of the Year award began as a global program in 1992. Award-winners are selected by a global team of executives from purchasing, engineering, manufacturing and logistics who base their decisions on supplier performance in quality, service, technology and price. This year, General Motors honored 77 suppliers for their excellence throughout 2003.

Penske Logistics is a wholly owned subsidiary of Penske Truck Leasing, a joint venture of Penske Corporation and General Electric. A leading global transportation services provider headquartered in Reading, Pa., the company operates approximately 200,000 vehicles and serves customers from nearly 1,000 locations in the United States, Canada, Mexico, South America and Europe. Penske Truck Leasing's product lines include full-service leasing, contract maintenance and commercial and consumer rental. Penske Logistics offers solutions for transportation, warehousing and supply chain management.