PACCAR Announces Extra Cash Dividend

    BELLEVUE, Wash.--Dec. 3, 2002--PACCAR Inc's board of directors today declared an extra cash dividend in the amount of seventy cents ($.70) per share, payable on January 6, 2003, to stockholders of record at the close of business on December 18, 2002, according to Mark C. Pigott, PACCAR chairman and chief executive officer.
    "PACCAR continues to set the standard for the commercial vehicle industry worldwide by generating good profits and maintaining a strong balance sheet, with excellent credit ratings," noted Pigott. "PACCAR shareholder return has exceeded the Standard & Poor's 500 index for the previous one-, five-, and ten-year time periods."
    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.