Nasdaq Establishes Conditions for Continued Listing of AMERCO's Common Stock

RENO, Nev., Aug. 6, 2003 -- AMERCO announced today that it received a letter from Nasdaq, dated August 4, 2003, indicating that a Listing Qualifications Panel (the "Panel") has determined to continue the listing of AMERCO's common stock on The Nasdaq National Market provided that: (1) on or before August 8, 2003, AMERCO files its Form 10-K for the fiscal year ended March 31, 2003 with the SEC and Nasdaq; (2) on or before August 14, 2003, AMERCO files its Form 10-Q for the quarter ended June 30, 2003 with the SEC and Nasdaq; (3) on or before deadlines determined by the Panel, AMERCO submits to Nasdaq a copy of the Company's plan of reorganization as filed with the bankruptcy court, a copy of any amendments to the plan of reorganization as submitted to the bankruptcy court, documentation evidencing that AMERCO has commenced the solicitation of votes regarding the plan of reorganization, as well as documentation evidencing that the plan of reorganization has been confirmed by the bankruptcy court; and (4) on or before January 9, 2004, AMERCO submits documentation to Nasdaq evidencing its emergence from bankruptcy. In addition to the foregoing, AMERCO must comply with all other requirements for continued listing on Nasdaq.

AMERCO was also notified by Nasdaq that in light of AMERCO's filing delinquency for its March 31, 2003 Form 10-K, a fourth character "E" must be appended to the Company's ticker symbol. Accordingly, effective with the open of business Tuesday, August 5, 2003, AMERCO's trading symbol was changed from "UHALQ" to "UHAEQ." The trading symbol also includes the fifth character "Q," as a result of AMERCO's previously announced bankruptcy filing.

The company also said that Gary Horton, AMERCO's long time Treasurer, has acquiesced to the Company's request that he stay on to facilitate continuity in the transition of the Company's financial restructuring. Mr. Horton previously announced his retirement effective August 1, 2003. Mr. Horton started with the company in 1968 and has extensive experience in AMERCO's financial reporting.

For more information about AMERCO, visit www.amerco.com .