Penske Logistics Supports EuroTerminal Opening

ROOSENDAAL, 19 October 2007 - Today, Penske Logistics again declared its support of the EuroTerminal Coevorden BV (ETC), at the grand opening event hosted by Prof. Dr. HansGert Pöttering, Chairman of the European Parliament. The company holds a 12.37 percent stake in the facility, and has provided strategic counsel and maintained partial responsibility for securing new customers for the terminal since 1998. In addition, Erik van Egmond, Managing Director Penske Logistics Europe, is the chairman of the ETC Supervisory Board.

Located at Europark and situated partly on German territory, the EuroTerminal Coevorden is supported by a collaboration between the Dutch and German governments. Building upon the daily rail transport link between Coevorden and Rotterdam that was established by Penske in 2002, the ETC is a unique terminal that now combines inland barge transport with rail transport, enabling rapid, intermodal cross-docking at a strategic geographical location. The expanded terminal - now ten times larger than the former rail terminal - can accommodate 2.5 million tons of goods annually.

"The EuroTerminal Coevorden marks the beginning of a new era in logistics in Coevorden," said van Egmond. "It is the first, extremely important step toward optimising the links between the region and the rest of Europe. Penske Logistics is proud to have been able to contribute its expertise in supply chain management to help make the opening of the EuroTerminal Coevorden successful."

Regional and national government authorities and a number of companies have collaborated closely to establish the EuroTerminal Coevorden. van Egmond adds, "Now that the ETC is open, continued cooperation at the regional and pan-European levels will remain crucial. All parties will need to continue to work together to ensure that we have an international flow of goods passing through the region, taking us one step closer to economic prosperity."

About Penske Logistics

Penske Logistics is a wholly owned subsidiary of Penske Truck Leasing, a joint venture of Penske Corporation and General Electric. With operations in North America, South America, Europe and Asia, 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 www.PenskeLogistics.com to learn more about the company and its services.