AMERCO Announces Lawsuit Resolution

    RENO, Nev., May 30 AMERCO , announced the
resolution of a class action overtime compensation lawsuit (Crandall) in the
state of California.

    "The law in California is wrong and needs overhauling," stated Chairman,
Joe Shoen.  "We chose to fight this case and lost at the trial court level.
At this time it appears this matter will effect our earnings in excess of
$10.3 million dollars for fiscal year 2001."

    "This case is part of a feeding frenzy by California plaintiff attorneys,"
said Shoen.  "Track Auto, Rite Aide, Robinsons May, Wendys, Dennys, Taco Bell,
Edwards Theatres, Kits Camera, Payless Shoes, Pizza Hut, Enterprise
Rent-A-Car, and many more employers in the state of California are being
victimized by predatory litigators.  AMERCO continues to take every
prophylactic measure possible in this area consistent with respecting its
entry level management personnel."

    An expense of approximately $10.3 million dollars will be recognized
during fiscal year 2001.  This non-recurring extraordinary expense creates a
negative impact on the Company's profitability.

    In addition, Republic Western Insurance Company's exit from non-standard
auto insurance and other discontinued insurance segments has yet to reach
completion.  This delayed exit resulted in a larger payment of losses, which
contributed to a sharp decline in fourth quarter earnings.  In an effort to
reduce ongoing losses, Republic Western Insurance Company cut staff and
internalized claim payment functions.

    "AMERCO will fall short of its earnings estimates for fiscal year 2001,"
stated Shoen.  "I am disappointed with the 2001 results but the underlying
business is strong and also resilient.  Our primary focus is to serve our
customers and to do so profitably."