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Penske Auto Centers Names President and Chief Executive Officer

2 October 1998

Penske Auto Centers Names James M. Wheat President and Chief Executive Officer

    TROY, Mich., Oct. 2 -- Roger S. Penske, Chairman of Penske
Auto Centers, Inc., today announced the appointment of James M. Wheat as
President and CEO of Penske Auto Centers, Inc.
    Mr. Wheat, 43, comes to Penske Auto Centers after eight years at Pennzoil
Company where his most recent assignment was as President of Jiffy Lube
International and Group Vice President of Franchise Operations of the parent
company.  Prior to joining Pennzoil, he spent eighteen years with Western Auto
Supply Company.  He began his retail automotive service career in 1972 in
sales with Western Auto.  He rose to the position of regional manager before
leaving to go to Pennzoil in 1990.
    In making the announcement, Mr. Penske said, "Jim Wheat brings a wealth of
retail auto service experience to his new responsibilities with Penske Auto
Centers.  His operational and marketing skills will be fully utilized as he
and the management team continue to build toward our goal of becoming the
industry leader."  Mr. Wheat will maintain his office at the Penske Auto
Centers' headquarters facility in Troy, Michigan.
    Roger S. Penske, Jr., formerly chief executive officer, will be assuming
other management responsibilities within Penske Corporation.  Timothy Findlay,
formerly president, will provide consulting services to Penske Auto Centers
while pursuing other business opportunities.
    Penske Auto Centers, Inc. operates approximately 800 retail automotive
service centers at Kmart locations throughout the U.S. and provides the
highest quality auto care and maintenance service for its customers.
    Penske Corporation is a closely held, diversified transportation services
company which conducts its business through a number of wholly or partially
owned companies.  Those companies include Detroit Diesel Corporation, Penske
Truck Leasing Company, Diesel Technology Company, Penske Automotive Group,
Inc., Penske Auto Centers, Inc., Penske Capital Partners and Penske
Motorsports, Inc.  Penske Corporation manages businesses with annual revenues
exceeding $6 billion and employs more than 28,000 people around the world.