Company to preserve legacy of independent truck lessors

OAKBROOK TERRACE, IL, April 17, 2008 – NationaLease announces the establishment of  a private equity fund to enable effective ownership transition of existing NationaLease members and provide an opportunity for new ownership to gain viable entry as an independent lessor in the truck leasing and rental industry.  The goal is to preserve and promote the legacy of the independent truck lessor, protect jobs, give customers clear alternatives, and continue to strengthen NationaLease, an already 700-plus location strong organization representing more than 150,000 vehicles.

“Consolidation continues to be a reality for all industries including ours,” states Roger Welling, Senior Vice President of NationaLease.  “It poses a threat, but also presents significant opportunities. When events like this happen in our industry, members work hard to regain that business, which they have historically been very successful at.  They are successful because we are in a service business and people do business with people.  NationaLease has a reputation for providing exceptional service and gives customers the opportunity to work with company owners and decision makers rather than local middle management.”  Mr. Welling provided some statistics to support his view.  NationaLease members grew their combined fleets more than 5% over the last two years.  In addition, seven new members were added in 2007 bringing the total to 187 members.  Two of the major leasing companies have struggled to grow organically and have developed strategies to acquire independent truck lessors to show growth in these market segments to support the demands of shareholders.

NationaLease takes an alternative strategy.  Doug Clark, President and CEO states, “We have grown both organically and through the addition of new members and locations, not to meet the demands of shareholders, but to meet the demands of our customers.  We are a customer-focused organization and will continue to provide the level of flexibility and superior service NationaLease has built its reputation on for the past 64 years.”

Founded in 1944, NationaLease is the largest full service truck leasing organization in North America, with over 700 service locations throughout the U.S. and Canada and a combined customer fleet of over 150,000 tractors, trucks, and trailers.  The company provides comprehensive fleet management services for private fleets and transportation service providers.