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Detroit Diesel Announces Quarterly Dividend

2 September 1999

Detroit Diesel Announces Quarterly Dividend

    DETROIT, Sept. 1 -- Detroit Diesel Corporation
announced today the declaration of a regular quarterly dividend of $0.125 per
share on its outstanding common stock.  This dividend will be paid on October
20, 1999 to shareholders of record as of September 20, 1999.
    Detroit Diesel Corporation is engaged in the design, manufacture, sale and
service of heavy-duty diesel and alternative fuel engines, automotive diesel
engines, and engine-related products.  The Company offers a complete line of
diesel engines from 22 to 10,000 horsepower for the on-highway; off-road;
automotive; and power generation markets.  Detroit Diesel services these
markets directly and through a worldwide network of more than 2,800 authorized
distributors and dealer locations.  DDC is a QS-9000 certified company.
    Detroit Diesel's major shareholder is Penske Corporation, a closely-held,
diversified transportation services company whose operations include Penske
Truck Leasing Company, Diesel Technology Company, Penske Automotive Group,
Inc., Penske Auto Centers, Inc., and Penske Capital Partners, L.L.C.
    The Penske Group manages businesses with annual revenues exceeding $10
billion and employs more than 30,000 people around the world.
    Detroit Diesel's World Wide Web address is http://www.detroitdiesel.com