U-Haul Expands Dealer Business, Seeks Qualified Dealers

PHOENIX, April 30 -- AMERCO , the parent company for U-Haul International, Inc., the leader in the do-it- yourself household moving industry, today announced that it will expand its dealer outlets through an aggressive dealer recruitment campaign.

The company recently announced a change in marketing emphasis. U-Haul will be placing more emphasis on dealer locations and less on company owned locations for the next few years. This will allow the company to grow while conserving cash for other uses.

Aimed at adding to the Company's already extensive network of locations throughout North America, the campaign will result in 500 additional U-Haul dealers by the end of September 2003. U-Haul presently operates with 14,000 independent U-Haul dealers and 1,250 company-operated centers.

"Convenience is very important to the do-it-yourself moving customer," stated Layton Baker, vice president of U-Haul Dealer Support. "The 500 additional locations will provide increased convenience during the peak moving season."

Baker added that during economic turndowns, many small businesses are looking for ways to increase their income. Becoming a U-Haul dealer may be the single easiest way to make a small business more profitable.

"When a family moves into a new community, the U-Haul dealer will be the first person they meet. A favorable first impression will result in more income for that dealer's primary business. We are seeking quality entrepreneurs who place a premium on superior customer service."

For more information on becoming a U-Haul Dealer, go on the Web to uhaul.com and click on "Dealer Opportunities," or call 1-800-528-0361.

Based in Phoenix, Ariz., U-Haul has served the do-it-yourself household- moving customer for 58 years. The industry-giant has the largest rental fleet in the world, with over 97,000 trucks and 87,000 trailers. U-Haul, the undisputed leader in the truck and trailer rental industry, is one of the industry's largest operators of self-storage facilities, the world's largest installer of permanent trailer hitches and the world's largest Yellow Pages advertiser. For more information, visit www.uhaul.com .

Certain of the statements made in this press release regarding general revenues, income and general growth of our business constitute forward-looking statements contemplated under the Private Securities Litigation Reform Act of 1995 and certain factors could cause actual results to differ materially from those projected. For a brief discussion of the risks and uncertainties that may affect AMERCO's business and future operating results, please refer to form 10-Q for the quarter ended December 31, 2002, which is on file with the SEC.