Penske Orders EPA 2010 Certified Volvo VNs

READING, Pa., May 4, 2010 - Penske Truck Leasing has ordered 600 Volvo VN670 tractors with EPA2010-certified Volvo D13 engines and selective catalytic reduction (SCR). Penske has selected the cleanest-running diesel trucks available today that can deliver 5% better fuel economy than previous engines and a smaller carbon footprint for its customers.

The initial 100 units of the order have been built and are being placed in Penske’s commercial truck rental fleet. The remaining 500 VN670s will be produced and delivered over the next several months.

"We are extremely happy that Penske chose Volvo trucks and engines to meet the EPA’10 emissions standard, while also delivering the performance and fuel economy Penske and its customers require," said Scott Kress, Vice President – Sales, Volvo. "Volvo’s engines and SCR system are the most tested products in our company’s history and are the right choice for EPA’10. Penske not only has a deserved reputation as one of the leaders in evaluating new technology, they are committed to running the cleanest and most efficient trucks available."

"Penske is committed to responsible operations and participating in the EPA’s SmartWay Transport partnership is a big part of that when it comes to the environment," said Marc Althen, Senior Vice President of Administration and Procurement for Penske Truck Leasing. "Volvo’s trucks and engines are right in line with our approach to minimizing environmental impacts and improving operations. We think our truck rental and truck leasing customers will embrace vehicles like these as win-win options for their businesses and the environment."

The Volvo VN670s ordered by Penske are EPA SmartWay compliant, for increased aerodynamics and fuel efficiency. And Volvo’s EPA’10 technology eliminates active regenerations of the diesel particulate filter (DPF), which saves additional fuel, while also simplifying truck operations. All Volvo diesel engines meet the EPA’10 emissions regulations without the use of emissions credits.

Penske Truck Leasing Co., L.P., headquartered in Reading, Pa., is a joint venture of Penske Corporation, Penske Automotive Group and General Electric. A leading global transportation services provider, Penske operates more than 200,000 vehicles and serves customers from more than 1,000 locations in North America, South America, Europe and Asia. Product lines include full-service truck leasing, contract maintenance, commercial and consumer truck rentals, transportation and warehousing management, and supply chain management solutions. Visit www.GoPenske.com to learn more about the company and its products and services.

Volvo Trucks North America’s operations and products are guided by the company’s three core values: Safety, Quality and Environmental Care. The Volvo VN and VHD trucks are assembled in the United States at the New River Valley Plant in Dublin, Virginia, while Volvo engines for North America are assembled in Hagerstown, Maryland. Both plants are certified to ISO14001 environmental and ISO9001 quality standards.

Volvo Trucks North America is part of the Volvo Group, one of the world's leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services, and one of the world's leading producers of heavy-diesel engines (9-16 liter). The Group also provides complete solutions for financing and service. The Volvo Group, which employs about 96,000 people, has production facilities in 19 countries and sells their products in more than 180 markets. Volvo Group sales for 2009 amounted to approximately $29 billion. The Volvo Group is a publicly-held company headquartered in Gothenburg, Sweden. Volvo Shares are listed on Nasdaq OMX Nordic Exchange and are traded OTC in the U.S.