Gary Franz Appointed Managing Director of Penske Logistics' South American Operations

READING, Pa., March 8, 2006 - Penske Logistics, a wholly owned subsidiary of Penske Truck Leasing, has appointed 24-year Penske veteran Gary Franz as Managing Director of the company's South American business. Based in São Paulo, Brazil, Franz will be responsible for strengthening relationships with Penske Logistics' existing customers in Brazil and directing new business development throughout South America.

"We are fortunate to have such a seasoned Penske leader take the helm of our expanded initiative in South America," said Vince Hartnett, President Penske Logistics. "Gary Franz's extensive experience in the logistics industry will match well with our plans for the South American market, enabling us to grow our geographic reach and capabilities and better serve existing and prospective customers in the region."

Prior to this position, Franz served as Senior Vice President Operations within the company's United States Central Region. Before this, he held leadership roles within Penske Truck Leasing's business development and operations departments.

"I am very pleased to be part of the team in South America," said Franz. "Penske Logistics has a tremendous opportunity to develop new business in the region and foster deeper relationships with our existing customers. Our associates play an instrumental role in our success and I look forward to working with them."

In August 2005, Penske Logistics acquired Cotia Trading's 50 percent stake in the Brazilian joint venture company, formerly known as Cotia Penske Logistics, and assumed sole ownership and operational control of the business. Following the acquisition, Penske Logistics South America named three new company officers including: Mohammed Nassif, Director Operations; Paulo Monteiro, Director Finance; and Paulo Sarti, Director Sales. Penske Logistics customers in South America include Ford, General Motors, Sony, Samsung, Bridgestone/Firestone, Officer, Hewlett Packard and other global, industrial companies.

Penske Logistics is a wholly owned subsidiary of Penske Truck Leasing, a joint venture of Penske Corporation and General Electric. Penske Logistics provides supply chain management and logistics services to major industrial and consumer companies throughout the world. Penske Logistics delivers value through design, planning and execution in transportation warehousing, international forwarding and carrier management.Visit to learn more about the company and its services.