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Penske Auto Centers, Inc. Appoints New Chief Financial Officer

9 March 1998

Penske Auto Centers, Inc. Appoints New Chief Financial Officer

    TROY, Mich., March 9 -- Penske Auto Centers, Inc. announced
today that it has named J. Randall Lawrence to the position of Executive Vice
President and Chief Financial Officer immediately.  Mr. Lawrence succeeds
Robert T. Peterson, who has resigned to pursue other business interests.
    Mr. Lawrence, age 48, has been employed since 1978 in various financial
positions within the Penske group of companies.  Most recently, Mr. Lawrence
served as Senior Vice President - Finance for Detroit Diesel Corporation, a
public-traded company of which Penske Corporation is a majority shareholder.
Prior to Detroit Diesel, he served as the Chief Financial Officer for the
Penske Automotive Group, Inc.  Mr. Lawrence holds a B.S. in Economics from
Nichols College and received an M.B.A. in Finance from Cornell University in
1976.
    Penske Auto Centers, Inc. is a subsidiary of Penske Corporation, a
closely-held, diversified transportation services company which conducts its
business through a number of wholly- or partially-owned companies, including
Penske Truck Leasing Company, Detroit Diesel Corporation, Diesel
Technology Company, Penske Automotive Group, Inc., Penske Capital Partners,
L.L.C. and Penske Motorsports, Inc.  The Penske group of businesses has annual
revenues exceeding $6 billion and employs more than 28,000 around the world.

SOURCE  Penske Corporation