ORANGEBURG, N.Y., (June 4, 2003) — In a move aimed at increasing its presence in the U.S. truck market, Hino Motors has announced a restructuring of its distribution company, Hino Diesel Trucks (U.S.A.) Inc.

As part of this effort, Hino has entered into an investment agreement with PCP Holdings Inc., a wholly owned subsidiary of Penske Corp., along with its existing partners in HDT, Mitsui & Co. Ltd., Mitsui & Co. (U.S.A.). A formal agreement was signed on May 24, 2003.

Hino Diesel Trucks (HDT) will build a nationwide sales and service network that will offer a new line of conventional medium-duty trucks incorporating Hino Diesel engines and American-produced driveline components.

As part of the new organization, HDT has named Derek Kaufman as senior vice president of sales, marketing and customer support. Kaufman brings 25 years of heavy transportation experience to Hino, including customer-focused roles with Euclid, Freightliner and Penske Corp.

Based in Orangeburg, N.Y., the company sells and services Class 4,5,6 and 7 trucks.