Paccar.com Invests in Business-to-Business e-Commerce

29 February 2000

Paccar.com Invests in Business-to-Business e-Commerce

    BELLEVUE, Wash.--Feb. 29, 2000--Paccar.com announced today that it has made an equity investment in eScout, a leading provider of business-to-business (B2B) e-commerce solutions for independent businesses, according to Mark C. Pigott, chairman and chief executive officer.

    Pigott said, "eScout complements PACCAR's e-commerce strategy, which is aimed at proactively addressing the business opportunities of the Internet. As part of that strategy, Paccar.com is a venture capital fund focused on investing in startup companies, like eScout, that are developing technologies applicable to PACCAR's core business competencies."

    Alexander C. Kemper, eScout founder, said, "PACCAR is a technology leader in the automotive industry, and we are excited both about PACCAR's investment in eScout, as well as possible mutual benefits for both parties down the road."

    Founded in 1999, eScout.com is the leading B2B e-commerce initiative to help small and medium-sized businesses to run more profitably by virtually aggregating their collective power in a network that enables them to have the purchasing power of a Fortune 100 company. The eScout network has grown to more than 4,000 members since its inception and is growing in excess of 100 new members each week.

    e-Scout is the only B2B initiative to develop a network that establishes community banks as the center of commerce in the Internet economy. The company's focus on community banks and commitment to independent businesses has created an efficient and trusted B2B e-marketplace.

    In December, Paccar.com announced a $10 million investment in PNV, a leading provider of bundled telecommunications, cable television and Internet access services to professional drivers in the long-haul truck market.

    In November, PACCAR's innovative and leading-edge use of information technology earned the company the number one spot in PC Week magazine's Fast-Track 500, which ranks companies from a spectrum of industries based on their innovative use of technologies applied to their business framework.

    PACCAR earned the top ranking for launching company-wide initiatives in B2B e-commerce, enterprise resource planning (ERP), virtual private networks (VPNs), data warehousing, web-based collaboration software and specialized Intranet applications.

    PACCAR, an $8.6 billion company, is a leader in the design, development and manufacture of high quality light-, medium- and heavy-duty trucks 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 under the Braden, Gearmatic and Carco nameplates.

    PACCAR shares are traded on the NASDAQ Exchange, symbol PCAR, and its homepage can be found at www.paccar.com.