Prestolite Electric Starters and Alternators:Standard Position Status at International

    ANN ARBOR, Mich.--Oct. 31, 2001--Prestolite Electric Incorporated today announced that it had signed an agreement with International Truck and Engine Corporation under which Prestolite starters and alternators will be offered as standard, recommended equipment on all International Truck models. Under the agreement Prestolite will supply International with alternators produced in Arcade, New York; direct drive starter motors produced in Acton, England; and gear-reduction starter motors produced in San Luis, Argentina.
    "We are extremely proud of this association with International Truck and Engine," commented Prestolite President and CEO P. Kim Packard. "We will provide International with quality products and excellent service. In turn, this will assist International in providing value to its customers and help International advance its reputation as the premier manufacturer of heavy- and medium-duty trucks in the world."
    Navistar International Corporation is the parent company of International Truck and Engine Corporation, a leading producer of mid-range diesel engines, medium trucks, school buses, heavy trucks, severe service vehicles and parts and service sold under the International(R) brand. The company also is a private label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. In fiscal 2000, International Truck delivered 118,200 Class 5 through 8 trucks, including school buses, in the U.S. and Canada.
    Prestolite Electric Incorporated manufactures alternators and starter motors in the United States, United Kingdom, Argentina, South Africa and China. These are supplied under the Prestolite, Leece-Neville, and Indiel brand names for original equipment and aftermarket application on a variety of vehicles and industrial equipment. Genstar Capital Corporation and management own the equity of Prestolite Electric Holding, Inc., which owns 100% of Prestolite Electric Incorporated.

    This release contains forward-looking statements that involve risks and uncertainties regarding the anticipated financial and operating results of the Company. The Company undertakes no obligation to publicly release any revisions to any forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release. The Company's actual results may differ materially from those projected in forward-looking statements made by, or on behalf of, the Company.