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PACCAR Declares Extra Cash Dividend

11 December 1998

PACCAR Declares Extra Cash Dividend; Increases Quarterly Dividend

    BELLEVUE, Wash.--Dec. 10, 1998--PACCAR Inc's board of directors today declared an extra cash dividend in the amount of one dollar and sixty cents ($1.60) and increased its regular quarterly dividend 33 percent from fifteen cents to twenty cents ($.20) per share, according to Mark C. Pigott, PACCAR chairman and chief executive officer.
    "The board's action today recognizes an excellent year for PACCAR. The truck market in North America demonstrated remarkable strength during the entire year. In Europe, PACCAR benefitted from both strong demand and an increasing share of the market," said Pigott.
    The extra cash dividend will be paid on January 5, 1999 to stockholders of record at the close of business on December 21, 1998. The regular quarterly dividend for the first quarter will be paid on March 5, 1999 to stockholders of record at the close of business on February 19, 1999. PACCAR has paid a regular quarterly dividend since 1941.
    PACCAR, a $6.5 billion company, is a leader in the design, development and manufacture of high quality light-, medium- and heavy-duty trucks. The company sells its trucks worldwide 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 industrial winches and sells general automotive parts and accessories through its retail outlets.
    PACCAR shares are traded on the NASDAQ Exchange, symbol PCAR, and its homepage can be found at www.paccar.com.