PACCAR (Nasdaq:PCAR) has announced that it has made an equity investment in Automotive Electronic Specialists Ltd. (AES) to deliver vehicle performance-monitoring software, wireless communications capability, and off-board data analysis to commercial truck drivers and fleet operators.

"This investment is an important step toward increasing PACCAR's customers' ability to acquire the 'real-time' truck performance and diagnostic information necessary to successfully operate in today's just-in-time transportation marketplace," said Tom Plimpton, PACCAR executive vice president. "AES will supply on-board technology solutions that can give commercial vehicle operators the capability to reduce off-route time, manage fuel cost and improve vehicle utilization."

Dr. Michael Smith, AES chairman said, "This investment by PACCAR is a significant step in providing truckers with the technology to better manage their business." Dr. Smith added, "We have built a strong relationship with PACCAR through their subsidiary, Foden Trucks (UK), supplying 200 on-board computers for their Fleet Monitoring System. AES has demonstrated the reliability and compatibility of its system to record and monitor vehicle performance and transmit real-time data via wireless connections to fleet managers."

PACCAR's investment in AES is another step in the Company's integration of information technology to enhance commercial vehicle fleet's productivity and efficiency. PACCAR's innovative and leading-edge use of information technology (IT) earned the Company the number one ranking in PC Week magazine's 1999 Fast-Track 500, as well as being recognized by Business Week as a 'Web Smart 50' global company and by InformationWeek '500' as a leading IT innovator.

About PACCAR Inc

PACCAR, an $8 billion company, is a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt, DAF and Foden nameplates. It also provides financial services and distributes truck parts related to its principal business. In addition, the Bellevue, Washington-based company manufactures industrial winches under the Braden, Gearmatic and Carco nameplates.

PACCAR shares are traded on the Nasdaq, symbol PCAR, and its homepage can be found at www.paccar.com.

About Automotive Electronic Specialists Ltd. (AES)

Automotive Electronic Specialists Ltd. designs and manufactures products that monitor and enhance the performance of transport operations. The company is headquartered in Melbourne, Australia, and has been in business since 1986. AES's homepage is www.aespec.com.