FOR IMMEDIATE RELEASE

DATE: January 17, 2008

University of Washington President Mark A. Emmert announced today that the Michael G. Foster School of Business will name the first of its two new buildings in recognition of an $18 million gift from PACCAR and the Pigott Family. The building, PACCAR Hall, was approved earlier today by the UW Board of Regents at their regularly scheduled meeting.

“We are extremely grateful to PACCAR and the Pigott family for their extraordinary gift in support of Campaign UW: Creating Futures and also for their decades of support to the University of Washington," said UW president Emmert. "Their belief in the power of education to shape tomorrow’s leaders and give students the opportunity to prosper and grow is heartening. This gift will enable the Foster School to excel and meet the constantly evolving demands of business education." With the new $18 million gift, PACCAR is among the top five corporate lifetime donors to the University of Washington.

Support of the University of Washington from both PACCAR and the Pigott family has produced faculty endowments for five UW schools as well as multiple, significant donations that have benefited art history, economics, the Burke Museum, the Henry Art Gallery, the Law School, diversity scholarships, engineering, and athletics. Specific support for the Foster School includes the Paul Pigott – PACCAR Endowed Professorship in Business Administration and the nationally acclaimed PACCAR Award for Teaching Excellence. Recently, PACCAR renewed funding of the award for an additional 10 years and increased the yearly honorarium from $25,000 to $35,000 – making it the most prestigious graduate school of business teaching award in the nation.

James Jiambalvo, dean of the Foster School of Business, said the extraordinary gift will enable the school to accelerate the establishment of a world-class facility and accomplish its long-term vision of becoming America’s top public business school. “This gift is critical to achieving our vision,” Jiambalvo said. “The direct result of this gift will be the creation of a state-of-the-art facility as well as the establishment of two endowed professorships. The new building will redefine the school’s physical presence and the professorships will enhance the learning environment in the years to come. The gift will bolster our efforts to recruit great faculty who will make our business school a world leader and attract the best and brightest students.

”The Foster School’s expanded complex will add two new buildings. The first, PACCAR Hall, is scheduled to break ground in fall 2008 for completion in 2010. PACCAR Hall will be a 135,000-square-footfacility offering a combination of classrooms, faculty office space, a 250-seat auditorium, student lounges and a boardroom. Completion of the second building is expected in 2012. Designed to create a highly engaging on-campus learning experience, both phases will be products of the 21st century in form and function. The buildings’ facades will be brick and glass complemented by extensive natural landscaping. Both buildings are designed to achieve Leadership in Energy and Environmental Design (LEED)certification.

“This is the largest philanthropic commitment in the history of PACCAR and recognizes the importance of the University of Washington and the Foster School of Business to the development of future business leaders,” shared Mark Pigott, PACCAR chairman and chief executive officer. “The donation addresses the ongoing need to ensure that business education in the region is innovative and of the highest quality. PACCAR’s gift to the community recognizes the strong partnership that has grown between the company, the University of Washington and the Pacific Northwest for over 100 years. Our heritage is to give back to the communities in which we live and work. We are proud to partner with the UW in this transformational project.”

PACCAR is a Fortune 150 global technology company and a leader in the design, manufacture and customer support of premium light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. The company also provides financial services, information technology and after market customer support. PACCAR is headquartered in Bellevue, Washington, USA. PACCAR shares are traded on the NASDAQ Global Select Market, symbol PCAR, and its homepage is www.paccar.com.

The Foster School of Business has raised more than $173 million since Campaign UW began in2000. Of this amount, $27 million has been raised for faculty endowments, $20 million for student scholarships and almost $76 million for the school’s new facilities. www.foster.washington.edu.

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FOR MORE INFORMATION, CONTACT:

University of Washington -- Andrew Krueger, Foster School of Business, 206.543.1806

PACCAR -- John Waggoner, 425.468.7530

Photo: Mark Pigott (left) of PACCAR Inc and Dean James Jiambalvo (right) of the Foster School of Business view model of new Foster School buildings, including PACCAR Hall.