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U-Haul Adds 3,000 Trucks To Rental Fleet; Donlen Funds Acquisition

November 10, 2003

U-Haul International, Inc., announced on November 7, the addition of 3,000 10-foot moving trucks to its existing rental fleet. These new trucks represent a second installment that completes a $90 million truck purchase to help the company keep pace with growing demand. “Financing for these new trucks is in addition to the $550 million in exit financing announced by our parent company, AMERCO, today,” said U-Haul Executive Vice President John Taylor. “Customer support for the 2,000 10-foot moving trucks we introduced this past summer has exceeded our expectations at every level. These 3,000 additional units not only increase revenues, but also reduce costs through efficiencies and economies in servicing and repair costs.” The financing for these 3,000 additional units is being provided by Donlen Corp., Northbrook, Ill. The new trucks, based on a GMC chassis, will become available for rentals starting in December. “We are experiencing an increase in moving activity all across the country, which is a clear indicator to us that the economy is improving. These new trucks will be a welcome addition to our rental fleet and for our customers,” Taylor stated.
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