PACCAR Earns Shareholder Honor Roll Distinction – One of America’s Best Performing Companies

March 11, 2004, Bellevue, Washington PACCAR Inc has been recognized as one of Americas best performing companies by The Wall Street Journal in its ninth annual Shareholder Scoreboard of 1,000 major U.S. companies.

PACCAR was named to The Wall Street Journals prestigious 2003 Honor Roll list, which recognizes companies that earned straight-A ratings, ranked on five-year average compound annual total returns through year-end 2003.  Companies also had to be in the top 20 percent of firms evaluated for the past one, three, five and ten years to be considered for the Honor Roll designation.

PACCAR was ranked 12th of the 1,000 largest publicly traded companies in the U.S., based on the combination of its impressive five-year shareholder annualized return of 30.3 percent and meeting the other yearly financial return thresholds.  Only seventeen companies earned the distinction of being included on the exclusive Honor Roll.  Other companies that achieved Honor Roll recognition came from a diverse group of industry categories such as home construction, biotechnology and banking, and included Best Buy, Boston Scientific, Martek Biosciences, Taro Pharmaceutical and Ryland Group.

PACCAR continues to be a consistent leader in providing superior financial returns to its shareholders, said Mark C. Pigott, chairman and chief executive officer.  The recognition by The Wall Street Journal is a tribute to the high-quality products and services delivered by PACCARs 17,000 employees worldwide.  During 2003, PACCAR had the second best year in the companys 98-year history and achieved its 65th consecutive year of net profitability.  PACCAR has paid a dividend every year since 1941.

Mike Tembreull, vice chairman, added, This is terrific news that highlights PACCAR as one of the world leaders in financial services, information technology, logistic distribution and product quality.  Our employees, customers and dealers have recognized that PACCAR is a great company whose integrity, reliability and consistency have set the performance standard for 98 years.  This Honor Roll recognition, combined with the recent Fortune magazine article identifying PACCAR as one of the Most Admired Companies in America, is really gratifying for our shareholders.

The Wall Street Journal Shareholder Annualized Return Scoreboard
PACCAR Performance

The Shareholder Scorecard spans 76 industry groups and consists of the 1,000 largest companies in the Dow Jones U.S. Total Market Index at year-end 2003 with stock market trading histories of at least 12 months.  Size was measured by total value of a companys publicly traded common stock.  Performance was measured based on total shareholder return, including price change and reinvestment of any dividends or other cash or noncash distributions.  Returns were adjusted for stock splits, stock dividends and recapitalizations.

The Wall Street Journals Shareholder Scoreboard: The Best and Worst Performance of The WSJ 1000 was published in the newspapers March 8, 2004, edition, available online to subscribers at www.wsj.com. Copies are available by phone at 1-800-JOURNAL.


PACCAR is a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt, DAF and Foden nameplates.  It also provides financial services and distributes truck parts related to its principal business.  In addition, the Bellevue, Washington-based company manufactures winches under the Braden, Gearmatic and Carco nameplates.
PACCAR shares are traded on the Nasdaq Stock Market, symbol PCAR, and its homepage can be found at www.paccar.com.

Complete lists of International Stevie winners and other details are available at www.stevieawards.com/iba.