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Penske Truck Leasing is a partnership of Penske Corporation, Penske Automotive Group and Mitsui & Co., Ltd. A leading global transportation services provider, Penske operates more than 270,000 vehicles and serves customers from more than 1,000 locations. Our product lines include full-service leasing and contract maintenance. Our Penske Truck Rental service, which is widely recognized for its iconic yellow trucks with blue stripes, provides both commercial truck rentals and consumer truck rentals in North America.

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Penske Truck Leasing, Co., L.P. (PTL) is pleased to announce that Penske Automotive Group, Inc. (PAG) and Mitsui & Co., Ltd. (Mitsui) have both increased their ownership positions in PTL.

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Today, Penske Automotive Group announced that it acquired an additional 14.4% interest in Penske Truck Leasing, Co., L.P. from GE Capital. Following the transaction, which was completed yesterday, Penske Automotive Group now holds a 23.4% ownership interest in Penske Truck Leasing.

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Roger S. Penske

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Penske Truck Leasing (“Penske”) has opened a new truck rental and full-service truck leasing office in Melbourne, Australia, located at 488 Blackshaws Road, Altona North, Victoria 3025. The hours are Monday through Friday 8 a.m. to 5 p.m. and Saturdays from 8 a.m. to noon. For truck rental and leasing information call 1-300-GO-PENSKE or visitwww.pensketruckrental.com.au. The new office is co-located within the Penske Power Systems facility (formerly MTU Detroit Diesel), a subsidiary of Penske Automotive Group, Inc.

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Penske Commercial Vehicles, based in Brisbane, Australia, has announced a new venture withPenske Truck Leasing, Co., L.P. to offer commercial truck rental services in Australia. The venture, Penske Commercial Leasing Australia, will operate under the brand name Penske Truck Rental.

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Penske Truck Leasing Co., L.P. (“PTL”) today announced that it completed an initial asset-backed bank conduit facility with a group of six banks for approximately $450 million. The available capacity of the facility is $750 million. PTL expects to use the net proceeds to repay borrowings on its credit facility from General Electric Capital Corporation (GECC).

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Penske Truck Leasing Co., L.P. (“PTL”) and its wholly owned subsidiary PTL Finance Corporation announced they have issued an aggregate of $1.5 billion of senior notes in two tranches with 3.5 year and 5.5 year maturities at rates of 2.50 percent and 3.375 percent, respectively. Net proceeds of the offering will be used to repay borrowings on PTL's bank revolver and its credit facility from General Electric Capital Corporation (GECC). This is the third successful offering PTL has completed in 2012. The current offering was managed by Bank of America Merrill Lynch, J.P. Morgan and Wells Fargo Securities.

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Penske Truck Leasing, Co., L.P. (PTL) Completes $1.7 Billion Debt and Equity Transactions

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