Rush Enterprises Multi-point Peterbilt Dealer Acquires Assets of Perfection Equipment Inc.

    SAN ANTONIO--Nov. 13, 2001--Rush Enterprises Inc. , which operates the largest network of Peterbilt heavy-duty truck dealerships in North America, John Deere construction equipment dealerships in Texas and Michigan, and three of the largest farm and ranch superstores (D&D) in America, today announced that it has purchased the assets of Perfection Equipment Company Inc. (Perfection), an Oklahoma corporation, from its parent company, TransCom USA Management Co. L.P.
    The acquisition will provide Rush with Perfection's oil and gas up-fitting business, medium-duty truck accessory and up-fitting business, and will further complement Rush's existing heavy-duty truck parts business, all located in Oklahoma City, Okla.
    The transaction was valued at approximately $4.2 million with the purchase price paid in cash. Rush intends to integrate their operations into the Rush Truck Center system immediately. Rush had revenues of $897.4 million during 2000 while Perfection had revenues of approximately $16.2 million for the same period. Perfection recorded unaudited pretax earnings of $1.4 million for the nine-month period ended Sept. 30, 2001.
    In announcing the agreements, W. Marvin Rush, chairman and chief executive officer of Rush Enterprises Inc. stated, "This acquisition will complement the existing services we provide to the oil and gas industry, and provide exciting opportunities in the parts distribution and light to medium duty up-fitting businesses." Rush added, "We look forward to joining forces with this very well-run organization."
    Rush Enterprises operates the largest network of Peterbilt heavy-duty truck dealerships in North America and John Deere construction equipment dealerships in Texas and Michigan. Its current operations include a network of dealerships located in Texas, California, Oklahoma, Louisiana, Colorado, Arizona, New Mexico and Michigan. These dealerships provide an integrated, one-stop source for the retail sale of new and used heavy-duty trucks and construction equipment; aftermarket parts, service and body shop facilities; and a wide array of financial services, including the financing of truck and equipment sales, insurance products and leasing and rentals. The Company also operates retail farm and ranch superstores that serve the greater San Antonio, Houston and Dallas/Forth Worth, Texas areas.

Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the company with the Securities and Exchange Commission.