SPARKS, MD – PHH Arval and First Fleet Corp. have formed a new dedicated truck group to serve the comprehensive needs of companies with private fleets of light, medium, and heavy trucks and equipment. The new organization, called PHH FirstFleet, brings together the resources of PHH Arval and First Fleet Corp., a truck asset management company acquired by PHH in 2004. PHH FirstFleet provides a complete solution for truck fleets, including:

• Consulting expertise to help maximize truck and equipment investments.
  

• Financing options, including Logic Lease, a flexible type of lease available through PHH FirstFleet.
  

• Engineering and specifications, ordering, upfitting, and delivery.
  

• Truck services, including fuel, maintenance, and accident management.
  

• PHH InterActive, an online information management system.

  PHH FirstFleet will be expanding its current services in the coming months in several key areas, such as fuel and maintenance. PHH Arval clients whose fleets include trucks will continue to be serviced by their existing account teams, and can utilize the combined resources of PHH Arval and PHH FirstFleet to enhance the capabilities available to their truck fleets. PHH FirstFleet is headed by Michael C. Lewis, president and general manager of First Fleet Corp. Based in Ft. Lauderdale, Fla., PHH FirstFleet has additional operations in Sparks and Mississauga, Canada. The new group will operate a dedicated sales force and combine the operational and technology infrastructure of PHH Arval and First Fleet Corp.