The Car and Truck Fleet and Leasing Management Magazine

Lewis Named President and General Manager of First Fleet Corp.

March 14, 2006

SPARKS, MD – PHH Arval, a subsidiary of PHH Corp., has announced that Michael C. Lewis has been named president and general manager of First Fleet Corp., a PHH Arval subsidiary company. In addition, Lewis has been named senior vice president of truck strategy at PHH Arval to facilitate the company's overall North American truck growth initiative. He will also be a member of the PHH Arval senior leadership team. George J. Kilroy, president and CEO of PHH Arval, said, "The promotion of Mike Lewis to leadership positions at First Fleet and PHH Arval will allow us to more effectively leverage the capabilities, client base, marketing, and industry contacts of both companies in the expanding truck market." PHH Arval acquired Ft. Lauderdale-based First Fleet Corp., an asset management, financial, and operational support company to the nation's private truck fleets, in 2004. Mike Lewis joined First Fleet Corp. in 2001. He has played a key role in the company's continuous growth and strategic positioning in the market, the transformation of its business model, and the innovation and design of its products. In his new roles as president and general manager of First Fleet and senior vice president at PHH Arval, Lewis is responsible for heading up a comprehensive, integrated PHH Arval truck strategy. John J. Flynn, founder and former president and chief executive officer of First Fleet, recently left after a contractual two-year transition period following the acquisition. He provided advice and guidance to PHH Arval concerning the truck fleet business during that time. In a related move, Jeff Smith, senior vice president at PHH Arval, has taken on the newly created position of senior vice president of North American truck sales. He will be responsible for unifying the strategy and capabilities of all of PHH Arval's truck and equipment sales channels, including PHH Arval United States and Canada, PHH Equipment Leasing, and First Fleet Corp.
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